Download This Bill in Microsoft Word format

Bill 3698

                    Current Status

Bill Number:                      3698
Ratification Number:              202
Act Number:                       119
Type of Legislation:              Joint Resolution JR
Introducing Body:                 House
Introduced Date:                  19990311
Primary Sponsor:                  Ways and Means Committee HWM 30
All Sponsors:                     Ways and Means Committee
Drafted Document Number:          l:\council\bills\nbd\11212htc99.doc
Date Bill Passed both Bodies:     19990624
Date of Last Amendment:           19990624
Governor's Action:                S
Date of Governor's Action:        19990630
Subject:                          Property tax assessments, countywide 
                                  reassessments; exceptions, value increases, 
                                  appraisal and equalization program


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
------  19990721  Act No. A119
------  19990630  Signed by Governor
------  19990624  Ratified R202
House   19990624  Concurred in Senate amendment, 
                  enrolled for ratification
Senate  19990624  Amended, read third time, 
                  returned to House with amendment
Senate  19990601  Made Special Order
Senate  19990527  Read second time, notice of
                  general amendments
Senate  19990527  Recalled from Committee                06 SF
Senate  19990324  Introduced, read first time,           06 SF
                  referred to Committee
House   19990324  Read third time, sent to Senate
House   19990323  Read second time
House   19990315  Made Special Order
House   19990311  Introduced, read first time


                             Versions of This Bill
Revised on March 11, 1999 - Word format
Revised on May 27, 1999 - Word format
Revised on June 24, 1999 - Word format

(A119, R202, H3698)

A JOINT RESOLUTION TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-223 SO AS TO AUTHORIZE A COUNTY GOVERNING BODY BY ORDINANCE TO LIMIT THE INCREASE IN REAL PROPERTY VALUE TO FIFTEEN PERCENT AS THE RESULT OF A COUNTYWIDE REASSESSMENT AND EQUALIZATION PROGRAM AND TO SPECIFY THE APPLICATION OF THIS PROVISION, PROVIDE CERTAIN EXCEPTIONS AND AUTHORIZE THE COUNTY GOVERNING BODY TO MAKE THE ORDINANCE APPLY RETROACTIVELY; AND TO PROVIDE THAT THE VERSION OF SECTION 12-37-223 AS ADDED BY THIS ENACTMENT IS DEEMED THE LATEST ENACTMENT OF THIS SECTION DURING THE 1999 LEGISLATIVE SESSION.

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

Ordinance to allow exemption

SECTION 1. Chapter 37, Title 12 of the 1976 Code is amended by adding:

"Section 12-37-223. As authorized by Section 3, Article X of the South Carolina Constitution, the General Assembly hereby authorizes the governing body of a county by ordinance to exempt an amount of fair market value of real property located in the county sufficient to limit to fifteen percent any valuation increase attributable to the implementation in the county of a countywide appraisal and equalization program conducted pursuant to Section 12-43-217. An exemption allowed by this section does not apply to:

(1) real property valued for property tax purposes by the unit valuation method;

(2) value attributable to property or improvements not previously taxed, such as new construction, and for renovation of existing structures;

(3) property transferred after the implementation of the most recent countywide equalization program conducted pursuant to Section 12-43-217, except property transfers that are not subject to income tax pursuant to Sections 102, 351, 355, 368, 721, 1031, 1033, or 1041 of the Internal Revenue Code as defined in Section 12-6-40.

Assessed value exempted from ad valorem taxation by an ordinance enacted pursuant to this section is nevertheless considered taxable property for purposes of any formula using assessed value of property to determine state aid to school districts for public education and computing the bonded indebtedness limit for a political subdivision or school district.

The ordinance allowed by this section may be given retroactive effect, but shall not affect taxes due prior to its enactment."

Deemed latest enactment

SECTION 2. Notwithstanding the date of enactment during the 1999 legislative session of any act adding Section 12-37-223 to the Code of Laws of South Carolina, 1976, the version of Section 12-37-223 as contained in this enactment is deemed the latest enactment of this section.

Time effective

SECTION 3. This joint resolution takes effect upon approval by the Governor.

Ratified the 24th day of June, 1999.

Approved the 30th day of June, 1999.

This web page was last updated on Wednesday, December 9, 2009 at 9:24 A.M.