Current Status Introducing Body:House Bill Number:3773 Ratification Number:176 Act Number:110 Primary Sponsor:Baker Type of Legislation:GB Subject:Sales tax exemption on research machinery Companion Bill Number:841 Date Bill Passed both Bodies:May 17, 1991 Computer Document Number:CYY/18443.SD Governor's Action:S Date of Governor's Action:May 30, 1991 Introduced Date:Apr 04, 1991 Last History Body:------ Last History Date:May 30, 1991 Last History Type:Act No. 110 Scope of Legislation:Statewide All Sponsors:Baker Sharpe Kirsh Nettles Keesley Baxley Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
3773 ------ May 30, 1991 Act No. 110
3773 ------ May 30, 1991 Signed by Governor
3773 ------ May 27, 1991 Ratified R 176
3773 Senate May 17, 1991 Read third time, enrolled for
ratification
3773 Senate May 16, 1991 Read second time, unanimous
consent for third reading on
Friday, May 17
3773 Senate May 16, 1991 Recalled from Committee 06
3773 Senate May 09, 1991 Introduced, read first time, 06
referred to Committee
3773 House May 09, 1991 Read third time, sent to
Senate
3773 House May 08, 1991 Read second time
3773 House Apr 25, 1991 Committee Report: Favorable 30
3773 House Apr 04, 1991 Introduced, read first time, 30
referred to Committee
View additional legislative information at the LPITS web site.
(A110, R176, H3773)
AN ACT TO AMEND JOINT RESOLUTION 550 OF 1986, RELATING TO A MAXIMUM SALES TAX ON THE SALE OF MACHINERY FOR RESEARCH AND DEVELOPMENT FOR A PERIOD OF FIVE YEARS AND AN EXEMPTION FROM AD VALOREM TAXATION FOR A PERIOD OF FIVE YEARS OF CERTAIN FACILITIES ENGAGED IN RESEARCH AND DEVELOPMENT ACTIVITIES, SO AS TO MAKE THESE EXEMPTIONS PERMANENT RATHER THAN OF A FIVE-YEAR DURATION AND TO DESIGNATE SECTION 1 OF JOINT RESOLUTION 550 OF 1986 AS SECTION 12-36-2120(43), CODE OF LAWS OF SOUTH CAROLINA, 1976, AND TO DESIGNATE SECTION 2 OF JOINT RESOLUTION 550 OF 1986 AS SECTION 12-37-220 B.(34) OF THE 1976 CODE.
Be it enacted by the General Assembly of the State of South Carolina:
Sales tax exemption made permanent
SECTION 1. Section 1 of Joint Resolution 550 of 1986 is amended to read:
"Section 1. The maximum tax levied pursuant to Chapter 36 of Title 12 of the 1976 Code on the sale or use of each item of machinery for research and development is three hundred dollars. As used in this section, `machinery for research and development' means machinery used directly and exclusively in research and development in the experimental or laboratory sense for new products, new uses for existing products, or for improving existing products. To be eligible for the limitation imposed by this section, the machinery must be located in a separate facility devoted exclusively to research and development as defined in this section. The limitation does not extend to machinery used in connection with efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, or research in connection with literary, historical, or similar projects."
Property tax ememption made permanent
SECTION 2. Section 2 of Joint Resolution 550 of 1986 is amended to read:
"Section 2. The facilities of all new enterprises engaged in research and development activities located in any of the counties of this State, and all additions valued at fifty thousand dollars or more to existing facilities of enterprises engaged in research and development are exempt from ad valorem taxation in the same manner and to the same extent as the exemption allowed pursuant to item (7) of subsection A of Section 12-37-220 of the 1976 Code. For purposes of this section, facilities of enterprises engaged in research and development activities are facilities devoted directly and exclusively to research and development in the experimental or laboratory sense for new products, new uses for existing products, or for improving existing products. To be eligible for the exemption allowed by this section, the facility must be a separate facility devoted exclusively to research and development as defined in this section. The exemption does not include facilities used in connection with efficiency surveys, management studies, consumer surveys, economic surveys, advertising, promotion, or research in connection with literary, historical, or similar projects."
Code section designation
SECTION 3. (A) Section 1 of Joint Resolution 550 of 1986, as amended by this act, is designated as subsection (D) of Section 12-36-2110 of the 1976 Code on the effective date of this act.
(B) Section 2 of Joint Resolution 550 of 1986, as amended by this act, is designated as item (34) of subsection B. of Section 12-37-220 of the 1976 Code on the effective date of this act.
Time effective
SECTION 4. This act takes effect upon approval by the Governor.
Approved the 30th day of May, 1991.