Current Status Introducing Body:Senate Bill Number:1264 Primary Sponsor:McConnell Committee Number:06 Type of Legislation:GB Subject:Property tax underpayments, interest provisions Residing Body:Senate Current Committee:Finance Computer Document Number:JIC/5623HTC.94 Introduced Date:19940316 Last History Body:Senate Last History Date:19940316 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:McConnell Passailaigue Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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1264 Senate 19940316 Introduced, read first time, 06
referred to Committee
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TO AMEND SECTION 12-43-305, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PAYMENT OF PROPERTY TAXES WHEN THE VALUATION OF THE PROPERTY IS UNDER APPEAL, SO AS TO PROVIDE THAT NO INTEREST IS DUE ON UNDERPAYMENTS FOR THE FIRST TWO MONTHS THE PROPERTY REMAINS ON APPEAL AFTER THE DUE DATE AND TO PROVIDE THAT NO INTEREST IS DUE ON AN UNDERPAYMENT IF THE BOARD OF ASSESSMENT APPEALS FAILS TO ACT ON THE APPEAL WITHIN SIXTY DAYS OF THE DATE THE APPEAL IS FILED WITH THE BOARD.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-305 of the 1976 Code, as last amended by Section 222 of Act 181 of 1993, is further amended by adding a paragraph at the end to read:
"Notwithstanding the provisions of this section, no interest is due on an underpayment for the first sixty days the value of the property remains on appeal after the due date. No interest in any amount is due on an underpayment when a final decision of the board of assessment appeals is not rendered within sixty days of the date the appeal was filed with the board, regardless of the outcome of the appeal."
SECTION 2. This act takes effect upon approval by the Governor.