S 0353 General Bill, By Giese and M.T. Rose
 A Bill to amend Section 12-37-250, as amended, Code of Laws of South Carolina,
 1976, relating to the homestead property tax exemption, so as to delete the
 date by which life estates created other than by will are otherwise eligible
 for the exemption.

   12/10/90  Senate Prefiled
   12/10/90  Senate Referred to Committee on Finance
   01/08/91  Senate Introduced and read first time SJ-119
   01/08/91  Senate Referred to Committee on Finance SJ-119
   01/29/91  Senate Committee report: Favorable Finance SJ-17
   01/30/91  Senate Read second time SJ-9
   01/30/91  Senate Ordered to third reading with notice of amendments SJ-9
   02/05/91  Senate Read third time and sent to House SJ-22
   02/06/91  House  Introduced and read first time HJ-12
   02/06/91  House  Referred to Committee on Ways and Means HJ-12

COMMITTEE REPORT

January 29, 1991

S. 353

S. Printed 1/29/91--S.

Read the first time January 8, 1991.

To whom was referred a Bill (S. 353), to amend Section 12-37-250, as amended, Code of Laws of South Carolina, 1976, relating to the Homestead Property Tax exemption, etc., respectfully

That they have duly and carefully considered the same, and recommend that the same do pass:

JAMES M. WADDELL, JR., for Committee.

Senate Bill 353 amends Section 12-37-250 relating to the homestead property tax exemption so as to delete the date by which life estates created other than by will are otherwise eligible for the exemption.

This bill would require an additional state appropriation of less than $10,000 per year.

Approved By:

S. Hunter Howard, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTION 12-37-250, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION, SO AS TO DELETE THE DATE BY WHICH LIFE ESTATES CREATED OTHER THAN BY WILL ARE OTHERWISE ELIGIBLE FOR THE EXEMPTION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. The ninth paragraph of Section 12-37-250 of the 1976 Code is amended to read:

"The provisions of this section shall apply to life estates created by will and also to life estates otherwise created which were in effect on or before December 31, 1979."

SECTION 2. This act takes effect upon approval by the Governor.