South Carolina General Assembly
106th Session, 1985-1986

Bill 956


                    Current Status

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

(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.