Current Status Bill Number:View additional legislative information at the LPITS web site.956 Ratification Number:457 Act Number:553 Introducing Body:Senate Subject:Exempting from the documentary stamp taxes imposed by Sections 12-21-370 and 12-21-380, Code of Laws of South Carolina, 1976, leases entered into during 1985 in situations where the state owns real property and authorizes another person to erect improvements on the real property
(A553, R457, S956)
A JOINT RESOLUTION EXEMPTING FROM THE DOCUMENTARY STAMP TAXES IMPOSED BY SECTIONS 12-21-370 AND 12-21-380, CODE OF LAWS OF SOUTH CAROLINA, 1976, LEASES ENTERED INTO DURING 1985 IN SITUATIONS WHERE THE STATE OWNS REAL PROPERTY AND AUTHORIZES ANOTHER PERSON TO ERECT IMPROVEMENTS ON THE REAL PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
Exemption
SECTION 1. In any situation where the State of South Carolina owns real property on which it authorizes another person to erect improvements, leases entered into between the State and the other person during 1985 are exempt from the taxes imposed by Sections 12-21-370 and 12-21-380 of the 1976 Code.
Time effective
SECTION 2. This act shall take effect upon approval by the Governor.