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Indicates Matter Stricken
Indicates New Matter
S. 1069
STATUS INFORMATION
General Bill
Sponsors: Senator Kimpson
Document Path: l:\s-res\mek\022deed.eb.mek.docx
Introduced in the Senate on February 9, 2016
Currently residing in the Senate Committee on Finance
Summary: Deed recording fees
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/9/2016 Senate Introduced and read first time (Senate Journal-page 6)
2/9/2016 Senate Referred to Committee on Finance (Senate Journal-page 6)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 12-24-10(A) OF THE 1976 CODE, RELATING TO DEED RECORDING FEES, TO ALLOW AN INCREASE IN THE DEED RECORDING FEE BY TWENTY CENTS AND TO REQUIRE TEN CENTS OF THE INCREASE TO GO TO THE SOUTH CAROLINA STATE HOUSING FINANCE AND DEVELOPMENT AUTHORITY AND TEN CENTS GOING TO LOCAL AND REGIONAL HOUSING TRUST FUNDS FOR USE TOWARDS AFFORDABLE HOUSING.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-24-10(A) of the 1976 Code is amended to read:
"Section 12-24-10(A). In addition to all other recording fees, a recording fee is imposed for the privilege of recording a deed in which land and improvements on the land, tenements, or other realty is transferred to another person. The fee is one dollar eighty-five cents two dollars five cents for each five hundred dollars, or fractional part of five hundred dollars, of the realty's value as determined by Section 12-24-30. Ten cents of the fee shall be distributed to the South Carolina State Housing Finance and Development Authority. Another ten cents of the fee shall be distributed to local and regional housing trust funds to be allocated toward affordable housing."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
February 12, 2016 at 3:45 PM