South Carolina General Assembly
117th Session, 2007-2008

Download This Bill in Microsoft Word format

Indicates Matter Stricken
Indicates New Matter

H. 4398

STATUS INFORMATION

General Bill
Sponsors: Reps. Mahaffey and Duncan
Document Path: l:\council\bills\bbm\10169htc07.doc

Introduced in the House on January 8, 2008
Currently residing in the House Committee on Ways and Means

Summary: Sales tax exemptions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    1/8/2008  House   Introduced and read first time HJ-60
    1/8/2008  House   Referred to Committee on Ways and Means HJ-60

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/8/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES TAX EXEMPTIONS, SO AS TO EXEMPT FROM SALES AND USE TAX CONSTRUCTION MATERIALS PURCHASED AFTER 2007 AND BEFORE 2013, USED IN THE CONSTRUCTION IN THIS STATE OF A NEW OR EXPANDED SINGLE ETHANOL PRODUCTION FACILITY OR BIODIESEL PRODUCTION FACILITY, OR BOTH, TO PROVIDE THE INVESTMENT AMOUNT REQUIRED FOR THE EXEMPTION AND THE METHOD OF RECAPTURING TAXES IF THE INVESTMENT THRESHOLDS ARE NOT MET.

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

SECTION    1.    Section 12-36-2120 of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( )    construction materials purchased after December 31, 2007, and before January 1, 2013, used in the construction of a new or expanded single ethanol facility or biodiesel facility, or both an ethanol or biodiesel facility as these facilities are defined in Section 12-6-3600(C)(1) and (2). The facility must have a capital investment of at least eight million dollars in real and personal property at a single site in this State over an eighteen-month period. The taxpayer-purchaser shall notify the Department of Revenue of the exemption and the department may assess the taxpayer-purchaser the taxes owing in the manner provided in Section 12-36-2120(51), mutatis mutandis if the investment thresholds are not met."

SECTION    2.    This act takes effect upon approval by the Governor and applies for construction projects commenced after December 31, 2006.

----XX----

This web page was last updated on Monday, October 10, 2011 at 1:38 P.M.