View Amendment Current Amendment: FIN to Bill 271

The Committee on Finance proposed the following amendment (DG\271C001.NBD.DG21):

Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

/ SECTION___. A. Section 12-65-20(4)(b) of the 1976 Code, as last amended by Act 50 of 2019, is further amended to read:

"(b) Notwithstanding the provisions of item (4)(a), with respect to ( i) any site acquired by a taxpayer before January 1, 2008, (ii) a site located on the Catawba River near Interstate 77, or (iii) a site which, on the date the notice of intent to rehabilitate is filed, is located in a distressed area of a county in this State, as designated by the applicable council of government, 'textile mill site' means the textile mill structure, together with all land and improvements which were used directly for textile manufacturing operations or ancillary uses, or were located on the same parcel or a contiguous parcel within one thousand feet of any textile mill structure or ancillary uses. For purposes of this subitem, 'contiguous parcel' means any separate tax parcel sharing a common boundary with an adjacent parcel or separated only by a private or public road roads and railroad rights of way."

B.This SECTION takes effect upon approval by the Governor and first applies to tax years beginning after 2020. /