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Current Status Bill Number:View additional legislative information at the LPITS web site.422 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990128 Primary Sponsor:Holland All Sponsors:Holland Drafted Document Number:l:\council\bills\kgh\15238htc99.doc Companion Bill Number:3483 Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Sales tax exemptions, building materials by nonprofit entity, single family houses to buyers; Construction, Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990128 Introduced, read first time, 06 SF referred to Committee Versions of This Bill
TO AMEND SECTIONS 12-36-90, 12-36-110, AND 12-36-2120, ALL AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS AND EXEMPTIONS FOR PURPOSES OF THE SOUTH CAROLINA SALES AND USE TAX ACT, SO AS TO EXEMPT BUILDING MATERIALS PURCHASED BY A NONPROFIT TAX EXEMPT ENTITY EXCLUSIVELY ORGANIZED AND OPERATED TO BUILD AND SELL SINGLE FAMILY HOUSES TO SELECTED BUYERS TO PROMOTE HOME OWNERSHIP AND TO EXCLUDE FROM THE DEFINITIONS OF "GROSS PROCEEDS OF SALE" AND "RETAIL SALE" THESE ITEMS WHEN WITHDRAWN FROM INVENTORY AND DONATED TO AN ENTITY TO WHICH THE ITEMS COULD BE SOLD SALES TAX EXEMPT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-90(1)(c) of the 1976 Code, as added by Act 612 of 1990, is further amended by adding at the end:
"(vi) withdrawal of tangible personal property for donation to an entity when a sale of the property to the entity would be exempt from tax pursuant to Section 12-36-2120( )."
SECTION 2. Section 12-36-110(1)(c) of the 1976 Code, as last amended by Act 164 of 1993, is further amended by adding at the end:
"(vi) withdrawal of tangible personal property for donation to an entity when a sale of the property to the entity would be exempt from tax pursuant to Section 12-36-2120( )."
SECTION 3. Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( ) Building materials used in residential housing construction when purchased by a private nonprofit entity exempt from federal income tax pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986 as defined in Section 12-6-40(A), organized and operated exclusively to promote home ownership by means of building and selling single family residences to buyers it selects who, as one requirement for purchasing such a house, must perform a specified minimum number of hours of volunteer labor for the nonprofit entity in its program of home ownership promotion."
SECTION 4. This act takes effect July 1, 1999. In the publication of the annual cumulative supplement to the South Carolina Code of Laws, the Code Commissioner shall complete the internal cross references in Sections 12-36-90 and 12-36-110 of the 1976 Code, as amended by this act, by inserting the item number of the item added in Section 12-36-2120 of the 1976 Code by this act.
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