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TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM THE STATE SALES TAX, SO AS TO EXEMPT THE GROSS PROCEEDS OF SALES OR SALES PRICE OF CONSTRUCTION MATERIALS USED IN CONSTRUCTION OF CERTAIN NEW OR EXPANDED HEADQUARTERS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-36-2120(67) of the 1976 Code, as last amended by Act 116 of 2007, is further amended to read:
"(67) effective July 1, 2011, (a) construction materials used in the construction of a new or expanded:
(i) single manufacturing or distribution facility, or one that serves both purposes, with a capital investment of at least one hundred million in real and personal property at a single site in the State over an eighteen-month period. The This subsubitem is effective July 1, 2011; or
(ii) headquarters as defined in Section 12-6-3410(J)(1) meeting the requirements of Section 12-6-3410(B). For purposes of this subsubitem, 'construction materials' includes, without limitation, office cubicles, modular workstations, and ancillary materials used to assemble, install, or affix these items in the headquarters.
(b) the taxpayer must provide notice of the exemption, and the Department of Revenue may assess taxes owing in the manner provided in Section 12-36-2120(51)."
SECTION 2. This act takes effect upon approval by the Governor.
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