Current Status Bill Number:4553 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19960206 Primary Sponsor:Koon All Sponsors:Koon and McKay Drafted Document Number:dka\3507htc.96 Residing Body:Senate Current Committee:Finance Committee 06 SF Date of Last Amendment:19960320 Subject:Agriculture property classification, timberland
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19960321 Introduced, read first time, 06 SF
referred to Committee
House 19960321 Read third time, sent to Senate
House 19960320 Amended, read second time
House 19960314 Committee report: Favorable with 30 HWM
amendment
House 19960206 Introduced, read first time, 30 HWM
referred to Committee
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Indicates Matter Stricken
Indicates New Matter
AMENDED
March 20, 1996
H. 4553
S. Printed 3/20/96--H.
Read the first time February 6, 1996.
TO AMEND SECTION 12-43-232, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADDITIONAL REQUIREMENTS FOR REAL PROPERTY TO RECEIVE THE AGRICULTURAL USE CLASSIFICATION FOR PROPERTY TAX VALUATION PURPOSES, SO AS TO EXTEND THE "GRANDFATHER" PROVISIONS ALLOWED CROPLAND TO TIMBERLAND.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-232(3)(e) of the 1976 Code, as added by Act 406 of 1994, is amended to read:
"(e) A nontimberland tract that does not meet the acreage or income requirements of this section to be classified as agricultural real property must nevertheless be classified as agricultural real property if the current owner or an immediate family member of the current owner has owned the property for at least the ten years ending January 1, 1994 1996, and the property is was classified as agricultural real property for property tax year 1994.
The property must continue to be classified as agricultural real property until the property is applied to some other use or until the property is transferred to other than an immediate family member, whichever occurs first. For purposes of this subitem, `immediate family' is a person related to the current owner within the third degree of consanguinity or affinity and a trust all of whose noncontingent beneficiaries are related to the grantor of the trust within the third degree of consanguinity or affinity."
SECTION 2. A. The deadline for filing the application to obtain agricultural use valuation pursuant to Section 6 of Act 406 of 1994 and Section 12-43-220(d) of the 1976 Code for property tax year 1995 is extended through September 1, 1996.
B. Notwithstanding any other effective date provided for this act, this section takes effect upon approval of the Governor.
SECTION 3. Upon approval by the Governor, this act is effective for property tax years beginning after 1995.