Printed Page 3340, May 29
| Printed Page 3360, May 29
|
Printed Page 3340, May 29
| Printed Page 3360, May 29
| The Senate proceeded to a consideration of the Bill. The question being the adoption of Amendment No. 3 (GJK\22421JM.96) proposed by Senator GIESE and previously printed in the Journal of March 28, 1996.
Senator BRYAN spoke on the Bill.
Consideration was interrupted.
THE SENATE PROCEEDED TO A CALL OF THE CONTESTED STATEWIDE AND LOCAL CALENDAR.
H. 4005 -- Reps. Richardson and Cato: A BILL TO AMEND SECTION 38-77-510, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AUTOMOBILE INSURANCE AND THE SOUTH CAROLINA REINSURANCE FACILITY AND THE FACILITY'S DUTIES GENERALLY, SO AS TO PROVIDE THAT FOR MULTI-VEHICLE INSURANCE POLICIES, ONE OR MORE VEHICLES MAY BE CEDED TO THE FACILITY AS LONG AS THE INSURER IDENTIFIES TO THE FACILITY AND THE INSURED PRECISELY WHICH VEHICLES ARE RETAINED AND WHICH ARE CEDED AND THE RATE LEVEL FOR EACH VEHICLE.
The Senate proceeded to a consideration of the Bill. The question being the adoption of Amendment No. 1 (S-INS-001) proposed by Senators LAND and SALEEBY and previously printed in the Journal of January 31, 1996.
On motion of Senator ALEXANDER, the Bill was carried over.
H. 4706 -- Reps. Wilkins, Kennedy, Harrell, Hutson, Neilson, S. Whipper, J. Hines, Harvin, Howard, Askins, White, Fleming, Jennings, Keegan, Anderson, L. Whipper, M. Hines, Cobb-Hunter, Breeland, Neal, Young-Brickell, Easterday, J. Harris, Koon, Meacham, J. Young, Harrison, Clyburn, Herdklotz, Knotts, Inabinett, Wright, Lloyd, Law, Gamble, Delleney, Cave, Govan, H. Brown, Felder, Robinson, Mason, Carnell, D. Smith, Rice, Sharpe, Boan, Fulmer, Chamblee, Stuart, Shissias, Klauber, T. Brown, Spearman, Williams,
Kinon, Limbaugh, Scott, Riser, McTeer, McElveen, Hodges and Richardson: A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, TO ENACT THE "SOUTH CAROLINA RURAL DEVELOPMENT ACT OF 1996" (ABBREVIATED TITLE)
Senator MOORE asked unanimous consent to make a motion to take the Bill up for immediate consideration.
The Senate proceeded to a consideration of the Bill. The question being the adoption of the amendment proposed by the Committee on Finance.
Senator LEVENTIS spoke on the Bill.
Senators PEELER, LANDER, SHORT and BRYAN proposed the
following Amendment No. P-3 (4706R014.HSP), which was adopted:
Amend the commitee report, as and if amended, page 4706-23, by adding after line 4 the following:
/Amend the Bill, as and if amended, page 37, by adding an appropriately numbered subsection after line 41, to read:
( ) Notwithstanding the designations in Section 12-6-3360, Laurens, Cherokee, and Union counties shall qualify for the next increased credit designation./
Renumber sections to conform.
Amend title to conform.
Senator DRUMMOND moved that the amendment be adopted.
The amendment was adopted.
Senator LEVENTIS proposed the following Amendment No. P-7 (JIC\6103SD.96), which was adopted:
Amend the Report of the Committee on Finance, as and if amended, by striking subsections (A) and (B) of Section 12-6-3345 of the 1976 Code, which begin on line 34 of page 4706-13, and inserting:
/(A) A corporation qualifying for the credit allowed under Section 12-6-3360 is allowed an additional credit of ten percent of the first five million dollars of the cost for establishing, expanding, or adding to a facility in a `least developed' or `under developed' county, as provided in
Section 12-6-3360, against any tax due pursuant to Section 12-6-530 or Section 12-20-50 as provided in this section.
(B) In order to qualify for this credit, each of the following criteria must be satisfied: the qualifying real property costs of the establishment, expansion, or addition must be at least five million dollars. Qualifying real property costs are:
(1) costs incurred in the design, preparation, and development of establishing, expanding, or adding to a facility, and
(2)(a) direct construction costs, or
(b) with respect to leased facilities, direct lease costs during the first five years of operations for the facility./
Amend the report further, in Section 12-6-3345, by adding at the end of subsection (r), which begins on line 38 of page 4706-14:
/No corporation qualifying for the tax credits hereunder may reduce its tax liability in any year by more than fifty percent of the liability shown on the return./
Amend totals and title to conform.
Senator LEVENTIS explained the amendment.
Senator LEVENTIS moved that the amendment be adopted.
The amendment was adopted.
Senator LEVENTIS proposed the following Amendment No. P-8 (JIC\6104SD.96), which was adopted:
Amend the Report of the Committee on Finance, as and if amended, by striking subitem (b) of Section 4-12-30(D)(4) of the 1976 Code, which begins on line 37 of page 4706-2, and by striking subitem (b) of Section 4-29-67(D)(4), which begins on line 26 of page 4706-5.
Amend title to conform.
Senator LEVENTIS explained the amendment.
Senator LEVENTIS moved that the amendment be adopted.
The amendment was adopted.
Senator HOLLAND asked unanimous consent to take up Amendment No. P-6 for immediate consideration.
There was no objection.
Senators HOLLAND, MOORE, LAND, LEATHERMAN, ELLIOTT, RANKIN, PEELER and LANDER proposed the following Amendment No. P-6 (4706R031.DHH), which was adopted:
Amend the Report of the Committee on Finance, as and if amended, by striking on page 4706-12 beginning on line 9, by striking lines nine through 43 and on page 4706-13 by striking lines 1 through 10 and inserting in lieu thereof the following:
/Amend further by adding the following new SECTIONS to be appropriately numbered to read:
SECTION . Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-3490. (A) Any company subject to a license tax under Section 12-20-100 may apply for a credit against its tax liability for amounts paid in cash to provide infrastructure for a project qualifying for income tax credits under Chapter 6 of Title 12, withholding tax credits under Chapter 10 of Title 12, income tax credits under Chapter 14 of Title 12, and fees in lieu of property taxes under Chapter 12 of Title 4.
(B) For the purpose of this section `infrastructure' means improvements to a building or the land for water, sewer, gas, steam, electric energy, and communication services which are considered necessary, suitable, or useful to a project qualifying for income tax credits under Chapter 6 of Title 12, withholding tax credits under Chapter 10 of Title 12, income tax credits under Chapter 14 of Title 12, and fees in lieu of property taxes under Chapter 12 of Title 4. These improvements include, but are not limited to:
(1) improvements to both public or private water and sewer systems;
(2) improvements to both public or private electric, natural gas, and telecommunication systems including, but not limited to, ones owned or leased by an electric cooperative, electrical utility, or electric supplier as defined by Chapter 27, Title 58;
(3) fixed transportation facilities including highway, rail, water, and air.
(C) A company is not allowed the credit provided by this section for actual expenses it incurs in the construction and operation of electric system improvements or building electric facilities it owns, leases, manages, or operates.
(D) The maximum aggregate credit that may be claimed in any tax year by a single company is three hundred thousand dollars.
(E) The credits allowed by this section may not reduce the license tax liability of the company below zero. If the applicable credit exceeds the liability and is otherwise deductible under subsection (D) the amount of
the excess may be carried forward and deducted in the succeeding taxable year."/
Renumber sections to conform.
Amend title to conform.
Senator LAND explained the amendment.
Senator DRUMMOND moved that the amendment be adopted.
The amendment was adopted.
Senator SETZLER proposed the following Amendment No. P-12 (4706R023.NGS), which was adopted:
Amend the committee report, as and if amended, page 4706-10, by inserting after line 10 the following:
/Amend further, SECTION 10B, page 37, by striking line 27 and 28 and inserting in lieu thereof the following:
(5)(a) A county, any portion of which is located within twenty-five miles of the boundaries of an applicable military installation or/
Renumber sections to conform.
Amend title to conform.
Senator SETZLER explained the amendment.
Senator SETZLER moved that the amendment be adopted.
The amendment was adopted.
Senator THOMAS proposed the following Amendment No. P-5 (GJK\22944SD.96), which was withdrawn:
Amend the Report of the Committee on Finance, as and if amended, by adding the following new SECTIONS to be appropriately numbered to read:
/SECTION . Section 12-36-910(B)(1) of the 1976 Code, as last amended by Act 361 of 1992, is further amended to read:
"(1) gross proceeds accruing or proceeding from the business of providing or furnishing any laundering, dry-cleaning, dyeing, or pressing service, but does not apply to the gross proceeds derived from coin-operated laundromats and dry-cleaning machines; provided, that beginning June 30, 1997, the sales tax shall not apply to these services in the manner provided in Section 12-36-2120;"
SECTION . Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item to read:
"( ) laundry, dry-cleaning, dyeing, and pressing services according to the following schedule:
(a) a sales tax of three percent of the gross proceeds of such sales shall be imposed beginning June 30, 1997;
(b) a sales tax of one percent of the gross proceeds of such sales shall be imposed beginning June 30, 1998; and
(c) no sales tax shall be imposed on such sales beginning June 30, 1999.
The term `laundry, dry-cleaning, dyeing, and pressing services' as used in this item does not include coin-operated laundromats and dry-cleaning machines which are exempt from the sales tax as provided in Section 12-36-910 and shall continue to be so exempt after the effective date of this item."
SECTION . A. Section 12-36-2120(24) of the 1976 Code, as last amended by Act 506 of 1994, is further amended to read:
"(24) supplies and machinery used by laundries, cleaning, dyeing, or pressing, or establishments and supplies and machinery used by garment or other textile rental establishments in the direct performance of their primary function, but not sales of supplies and machinery used by coin-operated laundromats;"
B. This section takes effect July 1, 1998./
Renumber sections to conform.
Amend totals and title to conform.
Senator THOMAS explained the amendment.
Senator DRUMMOND raised a Point of Order that the amendment was out of order inasmuch as it was not germane to the Bill.
Senators ROSE, MATTHEWS and McCONNELL spoke on the Point of Order.
The PRESIDENT overruled the Point of Order.
Senator LEVENTIS argued contra to the adoption of the amendment.
Senator LEVENTIS moved to lay the amendment on the table.
The "ayes" and "nays" were demanded and taken, resulting as follows:
Bryan Courtney Drummond Ford Glover Hutto Land Leventis Martin Matthews Moore O'Dell Passailaigue Patterson Peeler Reese Saleeby Short Smith, J.V.
Alexander Boan Cork Courson Fair Giese Gregory Hayes Lander McConnell McGill Mescher Rankin Richter Rose Russell Ryberg Setzler Smith, G. Thomas Wilson
The Senate refused to table the amendment. The question then was the adoption of the amendment.
Senator DRUMMOND objected to further consideration of the Bill.
Senator DRUMMOND, with unanimous consent, withdrew his objection to the Bill.
Senator LEVENTIS spoke on the amendment.
At 5:02 P.M., Senator MARTIN assumed the Chair.
Senator LEVENTIS spoke on the amendment.
On motion of Senator ROSE, with unanimous consent, Amendment No. P-5 was withdrawn.
On motion of Senator HAYES, at 4:50 P.M., Senator WALDREP was granted a leave of absence for the balance of the day.
Senator RANKIN proposed the following Amendment No. P-10 (4706R022.LAR), which was tabled:
Amend the committee report, as and if amended, page [4706-9], by striking lines 28 through 40 in their entirety.
Renumber sections to conform.
Amend title to conform.
Senator RANKIN explained the amendment.
Senator LEVENTIS spoke on the amendment.
Senator LEVENTIS moved to lay the amendment on the table.
The "ayes" and "nays" were demanded and taken, resulting as follows:
Alexander Boan Bryan Courson Courtney Drummond Fair Giese Glover Hayes Land Lander Leventis Martin Matthews McGill Moore O'Dell Patterson Peeler Ryberg Saleeby Setzler Short Smith, J.V. Thomas
Cork Elliott Ford Hutto Jackson McConnell Mescher Passailaigue Rankin Reese Richter Rose Russell Smith, G. Wilson
The amendment was laid on the table.
Senator LEVENTIS proposed the following Amendment No. P-13 (4706R024.PPL), which was adopted:
Amend the committee report, as and if amended, page 4706-23, by adding after line 4 the following to read:
/Amend the bill further, page 56, by striking SECTION 25, lines 8 through 29 in their entirety./
Renumber sections to conform.
Amend title to conform.
Senator LEVENTIS explained the amendment.
Senator LEVENTIS moved that the amendment be adopted.
The amendment was adopted.
The question then was the adoption of the amendment proposed by the Committee on Finance.
The Committee on Finance proposed the following amendment (GJK\22905HTC.96), which was adopted, as amended, as follows:
Amend the bill, as and if amended, by striking SECTIONS 3, 21, 22, 23, and 24 in their entirety.
Amend further, Section 12-10-85, as contained in SECTION 4, page 6, by inserting on line 27:
/However, up to twenty-five percent of the funds annually available in excess of five million dollars must be set aside for grants to areas of moderately developed and developed counties. County governing bodies must apply to the council for these set aside grants stating the reasons that certain areas of their county qualify for these grants because they are comparable to those conditions qualifying a county as `least developed' or `under developed'./
Amend further, Section 12-10-85, as contained in SECTION 4, page 6, by inserting immediately after line 31:
/(D) The council shall submit a report to the Governor and General Assembly by March fifteenth covering activities for the prior calendar year./
Amend further, by striking Section 12-10-88(D), as contained in SECTION 5A, page 7, beginning on line 24, and inserting:
/(D) Neither the federal employer nor the applicable redevelopment authority is required to meet the requirements of Section 12-10-50 for subsection (A) to apply and the restrictions contained in Section 12-10-80(C) do not apply to redevelopment fees./
Amend further, Section 4-12-30(B)(5)(b), as contained in SECTION 7B, page 8, line 26, by striking /such/; and beginning on line 27, by striking /as the county council or county councils desire,/; and by striking SECTION 7C beginning on page 8.
Amend further, by striking Section 4-12-30(D)(4), as contained in SECTION 7E, page 11, beginning on line 15, and inserting:
/(4) (a) The assessment ratio may not be lower than four percent:
(i) in the case of a business which is investing at least two hundred million dollars, which when added to the previous investments, results in a total investment of at least four hundred million dollars, and which is creating at least two hundred new full-time jobs at the site qualifying for the fee;
(ii) in the case of a business which is investing at least four hundred million dollars and which is creating at least two hundred new full-time jobs at a site qualifying for the fee; or
(iii) in the case of investments totalling at least four hundred million dollars, in a county classified as either least developed or underdeveloped, by a limited liability company and/or one or more of the members or equity holders where a member or equity holder is creating, at a site qualifying for the fee, at least one hundred new full-time jobs with an average annual salary of at least forty thousand dollars within four years of the date of execution of the millage rate agreement.
(b) The new full-time jobs requirement of this item does not apply in the case of a taxpayer which for more than the twenty-five years ending on the date of the agreement paid more than fifty percent of all property taxes actually collected in the county.
(c) In an instance in which the governing body of a county has by contractual agreement provided for a change in fee-in-lieu of taxes arrangements conditioned on a future legislative enactment, any new enactment shall not bind the original parties to the agreement unless the change is approved by a referendum of the county's voters in the next general election and ratified by the governing body of the county.
(5) Notwithstanding the use of the term `assessment ratio', a business qualifying under items (2) or (4) of this subsection may negotiate an inducement agreement with a county using differing assessment ratios for different assessment years covered by the agreement. However, the
Printed Page 3340, May 29
| Printed Page 3360, May 29
| This web page was last updated on Monday, June 29, 2009 at 1:59 P.M.