Current Status Bill Number:View additional legislative information at the LPITS web site.
2777Ratification Number: 309Act Number: 291Introducing Body: HouseSubject: Relating to ad valorem property tax exemptions
(A291, R309, H2777)
AN ACT TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AD VALOREM PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT CARNIVAL EQUIPMENT WITH AN OUT-OF-STATE SITUS FOR SIX OR MORE MONTHS OF THE YEAR WHICH HAS BEEN THE SUBJECT OF AD VALOREM OR LIKE TAXATION IN AT LEAST ONE OTHER STATE.
Be it enacted by the General Assembly of the State of South Carolina:
Carnival equipment exempt from taxes
SECTION 1. Subsection B of Section 12-37-220 of the 1976 Code, as last amended by Act 292 of 1982, is further amended by adding an appropriately numbered item to read:
"( ) All carnival equipment owned, leased, or used by a foreign corporation or other nonresident of this State, not physically present within the State for an aggregate of more than six months of the tax year, and having paid an ad valorem or like tax in at least one other state."
SECTION 2. This act shall take effect upon approval by the Governor.