H 3773 Session 116 (2005-2006)
H 3773(Rat #0405) General Bill, By Vick, W.D. Smith, Littlejohn, Agnew,
Ballentine, Haley, Lucas, Ott, Hardwick, Witherspoon, Cobb-Hunter and Anderson
AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT FROM SALES
TAX THE GROSS PROCEEDS OF SALES OR SALES PRICE OF GOLD, SILVER, AND PLATINUM
BULLION, AND COINS AND CURRENCY AND TO REQUIRE THE RETAILER TO MAINTAIN PROPER
DOCUMENTATION AS REQUIRED BY THE SOUTH CAROLINA DEPARTMENT OF REVENUE FOR EACH
EXEMPT SALE. - ratified title
03/15/05 House Introduced and read first time HJ-104
03/15/05 House Referred to Committee on Ways and Means HJ-105
04/19/05 House Recalled from Committee on Ways and Means HJ-112
04/27/05 House Requests for debate-Rep(s). Walker, Loftis,
Hagood, GR Smith, Merrill, Hinson, Hosey, and
Mahaffey HJ-28
04/27/05 House Requests for debate removed-Rep(s). Hosey HJ-103
04/27/05 House Requests for debate-Rep(s). Umphlett HJ-103
04/28/05 House Member(s) request name added as sponsor:
W.D.Smith, Littlejohn, Agnew, Ballentine, Haley,
Lucas, Ott, Hardwick, Witherspoon, Cobb-Hunter,
Anderson
05/10/05 House Read second time HJ-22
05/10/05 House Roll call Yeas-101 Nays-7 HJ-23
05/10/05 House Motion noted- Reconsider vote whereby read second
time HJ-27
05/11/05 House Motion to reconsider tabled HJ-28
05/11/05 House Read third time and sent to Senate HJ-29
05/11/05 Senate Introduced and read first time SJ-13
05/11/05 Senate Referred to Committee on Finance SJ-13
05/05/06 Senate Referred to Subcommittee: O'Dell (ch), Peeler,
Reese, Short, Fair, Verdin
05/17/06 Senate Committee report: Favorable Finance SJ-9
05/31/06 Senate Amended SJ-161
05/31/06 Senate Read second time SJ-161
05/31/06 Senate Unanimous consent for third reading on next
legislative day SJ-161
06/01/06 Senate Read third time and returned to House with
amendments SJ-42
06/01/06 House Concurred in Senate amendment and enrolled HJ-203
06/07/06 Ratified R 405
06/13/06 Vetoed by Governor
06/14/06 House Veto overridden by originating body Yeas-70
Nays-26 HJ-129
06/14/06 Senate Veto sustained Yeas-22 Nays-17 SJ-132
06/14/06 Senate Reconsidered vote whereby veto was sustained SJ-133
06/14/06 Senate Veto sustained Yeas-22 Nays-15 SJ-133
H. 3773
NOTE: THIS COPY IS A TEMPORARY VERSION. THIS DOCUMENT WILL REMAIN IN THIS VERSION UNTIL PUBLISHED IN THE ADVANCE SHEETS TO THE ACTS AND JOINT RESOLUTIONS. WHEN THIS DOCUMENT IS PUBLISHED IN THE ADVANCE SHEET, THIS NOTE WILL BE REMOVED.
(R405, H3773)
AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT FROM SALES TAX THE GROSS PROCEEDS OF SALES OR SALES PRICE OF GOLD, SILVER, AND PLATINUM BULLION, AND COINS AND CURRENCY AND TO REQUIRE THE RETAILER TO MAINTAIN PROPER DOCUMENTATION AS REQUIRED BY THE SOUTH CAROLINA DEPARTMENT OF REVENUE FOR EACH EXEMPT SALE.
Be it enacted by the General Assembly of the State of South Carolina:
Sales tax exemptions
SECTION 1. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered new item at the end to read:
"( )(a) gold, silver, or platinum bullion, or any combination of this bullion; and
(b) coins or currency, or a combination of coins and currency.
The department shall prescribe documentation that must be maintained by retailers claiming the exemption allowed by this item. This documentation must be sufficient to identify each individual sale for which the exemption is claimed."
Time effective
SECTION 2. This act takes effect July 1, 2006.
Ratified the 7th day of June, 2006.
__________________________________________
President of the Senate
___________________________________________
Speaker of the House of Representatives
Approved the ____________ day of _____________________2006.
___________________________________________
Governor
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