South Carolina General Assembly
121st Session, 2015-2016

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Bill 227

Indicates Matter Stricken
Indicates New Matter

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

Indicates Matter Stricken

Indicates New Matter

COMMITTEE REPORT

April 14, 2016

S. 227

Introduced by Senators Campbell and Rankin

S. Printed 4/14/16--S.

Read the first time January 13, 2015.

            

THE COMMITTEE ON FINANCE

To whom was referred a Bill (S. 227) to amend Section 12-10-88 of the 1976 Code, relating to the remission of redevelopment fees to a redevelopment authority, to extend the end date for remissions from, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass with amendment:

Amend the bill, as and if amended, by striking SECTION 1 in its entirety and inserting:

/    SECTION    1.    Section 12-10-88(C) of the 1976 Code is amended to read:

"(C)    Redevelopment fees may be remitted to the applicable redevelopment authority for a period beginning with the date that the applicable redevelopment authority first submits the information described in subsection (B) to the department and ending fifteen years later or January 1, 2017 2019, whichever occurs last. If the redevelopment authority fails to provide the department with the required statement within the requisite time limits, no redevelopment fees must be remitted for that quarter. Notwithstanding subsection (A), the redevelopment fee remitted by the department in any fiscal year may not exceed the amount remitted in Fiscal Year 2014-2015." /

Renumber sections to conform.

Amend title to conform.

HUGH K. LEATHERMAN, SR. for Committee.

A BILL

TO AMEND SECTION 12-10-88 OF THE 1976 CODE, RELATING TO THE REMISSION OF REDEVELOPMENT FEES TO A REDEVELOPMENT AUTHORITY, TO EXTEND THE END DATE FOR REMISSIONS FROM JANUARY 1, 2017, TO JANUARY 1, 2037.

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

SECTION    1.    Section 12-10-88(C) of the 1976 Code is amended to read:

"(C)    Redevelopment fees may be remitted to the applicable redevelopment authority for a period beginning with the date that the applicable redevelopment authority first submits the information described in subsection (B) to the department and ending fifteen years later or January 1, 2017 2037, whichever occurs last. If the redevelopment authority fails to provide the department with the required statement within the requisite time limits, no redevelopment fees must be remitted for that quarter."

SECTION    2.    This act takes effect upon approval by the Governor.

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