Current Status Introducing Body:House Bill Number:4406 Ratification Number:511 Act Number:432 Primary Sponsor:Manly Type of Legislation:GB Subject:Property tax classification, economically disadvantaged Date Bill Passed both Bodies:May 22, 1992 Computer Document Number:BBM/9715.JM Governor's Action:S Date of Governor's Action:Jun 01, 1992 Introduced Date:Feb 12, 1992 Last History Body:------ Last History Date:Jun 01, 1992 Last History Type:Signed by Governor Scope of Legislation:Statewide All Sponsors:Manly D. Williams Cromer G. Bailey Rama Rogers Hallman Mattos Kempe Smith Wilkes Waites McElveen Whipper J. Bailey Anderson Rhoad Beatty Jennings Harrelson Shissias Barber Littlejohn McCraw Chamblee Quinn Corning Haskins L. Martin Cobb-Hunter Harrison Sturkie Riser Altman Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
4406 ------ Jun 01, 1992 Act No. 432
4406 ------ Jun 01, 1992 Signed by Governor
4406 ------ May 27, 1992 Ratified R 511
4406 Senate May 22, 1992 Read third time, enrolled for
ratification
4406 Senate May 21, 1992 Read second time, unanimous
consent for third reading on
Friday, May 22, 1992
4406 Senate May 20, 1992 Recalled from Committee 06
4406 Senate Apr 23, 1992 Introduced, read first time, 06
referred to Committee
4406 House Apr 22, 1992 Read third time, sent to
Senate
4406 House Apr 21, 1992 Read second time
4406 House Mar 26, 1992 Committee Report: majority 30
favorable, minority
unfavorable
4406 House Feb 12, 1992 Introduced, read first time, 30
referred to Committee
View additional legislative information at the LPITS web site.
(R511, H4406)
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CLASSES OF PROPERTY EXEMPT FROM AD VALOREM TAXATION, SO AS TO PROVIDE THAT THE EXEMPTION FOR THE PROPERTY OF ANY RELIGIOUS, CHARITABLE, OR ELEEMOSYNARY SOCIETY, CORPORATION, OR OTHER ASSOCIATION WHEN THE PROPERTY IS ACQUIRED FOR THE PURPOSE OF BUILDING OR RENOVATING RESIDENTIAL STRUCTURES ON IT FOR SALE TO ECONOMICALLY DISADVANTAGED PERSONS MAY BE CLAIMED FOR UP TO FIVE, RATHER THAN TWO, TAX YEARS ON A SINGLE PROPERTY, SPECIFY THAT THE SALE OF THE PROPERTY BE A NOT-FOR-PROFIT SALE, AND PROVIDE THAT THE TOTAL PROPERTIES FOR WHICH THE RELIGIOUS, CHARITABLE, OR ELEEMOSYNARY SOCIETY, CORPORATION, OR OTHER ASSOCIATION MAY CLAIM THIS EXEMPTION MAY NOT EXCEED FIFTEEN ACRES PER COUNTY WITHIN THE STATE.
Be it enacted by the General Assembly of the State of South Carolina:
Ad valorem tax exemptions; religious, etc.; residential structures
SECTION 1. Section 12-37-220 B.(16)(b) of the 1976 Code, as added by Act 438 of 1988, is amended to read:
"(b) The property of any religious, charitable, or eleemosynary society, corporation, or other association when the property is acquired for the purpose of building or renovating residential structures on it for not-for-profit sale to economically disadvantaged persons, but this exemption may not be claimed for more than five tax years on a single property. Further, the total properties for which the religious, charitable, or eleemosynary society, corporation, or other association may claim this exemption in accordance with this paragraph may not exceed fifteen acres per county within the State."
Effective for tax years after 1992
SECTION 2. The amendment to Section 12-37-220 B.(16)(b) of the 1976 Code contained in this act is effective for tax years beginning after 1992.
Time effective
SECTION 3. This act takes effect upon approval by the Governor.
In the Senate House May 27, 1992.
Nick A. Theodore,
President of the Senate
David M. Beasley,
Speaker Pro Tempore of the
House of Representatives
Approved the 1st day of June, 1992.
Carroll A. Campbell, Jr.,
Governor
Printer's Date -- June 29, 1992 -- S.