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Bill Number: 3770 Ratification Number: 228 Act Number 149 Introducing Body: House Subject: Definition of fuel ethanol blend
(A149, R228, H3770)
AN ACT TO AMEND SECTION 12-27-430, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ETHANOL MOTOR FUEL TAX INCENTIVE, SO AS TO ADD CORN AND ITS BY-PRODUCTS TO THE LIST OF FEED STOCKS IN THE DEFINITION OF FUEL ETHANOL, PROVIDE THAT TO QUALIFY FOR THE INCENTIVE THE PRINCIPAL FEED STOCK FROM WHICH FUEL ETHANOL IS DISTILLED MUST BE GROWN IN THIS STATE, AND TO DELETE THE RECIPROCITY PROVISION WHICH GIVES INCENTIVES TO PRODUCERS OF FUEL ETHANOL PRODUCED OUTSIDE OF THIS STATE AND TO REDUCE THE TIME WHEN FUEL ETHANOL BLENDS ARE TAXED AT THE PREVAILING TAX RATE.
Be it enacted by the General Assembly of the State of South Carolina:
Definition of fuel ethanol blend
SECTION 1. Section 12-27-430(1) and (6) of the 1976 Code are amended to read:
"(1) Fuel ethanol means one hundred ninety-eight proof ethanol denatured in conformity with Bureau of Alcohol, Tobacco and Firearms regulations and distilled in a facility whose principal (over fifty percent) feed stock is wood, corn and its by-products, cereal grain and its by-products, potatoes and their by-products, sugar beets and their by-products, or turnips and their by-products, all of which must be grown in this State.
Taxation of fuel ethanol blends
SECTION 2. Section 12-27-430(3) of the 1976 Code as last amended by Part II, Section 15A, Act 658 of 1988, is further amended to read:
"(3) Effective July 1, 1988, the tax on fuel ethanol blends is nine cents a gallon until January 1, 1989, and ten cents a gallon until December 31, 1990, or until loss of revenues reaches twenty million dollars and at such time all tax incentives must be removed and the tax on fuel ethanol blends must be at the prevailing tax rate a gallon."
SECTION 3. This act takes effect upon approval by the Governor, except that compliance with the portion of Section 12-27-430(1) of the 1976 Code requiring that the principal feed stock must be grown in this State is effective October 15, 1989.