Current Status Bill Number:
534Ratification Number: 70Act Number: 47Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 19950216Primary Sponsor: Finance Committee SF 06All Sponsors: Finance CommitteeDrafted Document Number: JIC\5407HTC.95Date Bill Passed both Bodies: 19950427Governor's Action: U Signature of Governor not requiredSubject: Property tax exemptions
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19950511 Act No. A47 ------ 19950511 Signature of Governor not required ------ 19950511 Ratified R70 House 19950427 Read third time, enrolled for ratification House 19950426 Read second time House 19950420 Committee report: Favorable 30 HWM House 19950223 Introduced, read first time, 30 HWM referred to Committee Senate 19950222 Read third time, sent to House Senate 19950221 Read second time, unanimous consent for third reading on Wednesday, 19950222 Senate 19950216 Introduced, read first time, placed on Calendar without referenceView additional legislative information at the LPITS web site.
(A47, R70, S534)
AN ACT TO RATIFY AN AMENDMENT TO SECTION 3, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, SO AS TO PERMIT A MUNICIPAL GOVERNING BODY TO EXEMPT FROM MUNICIPAL AD VALOREM TAXES FOR NOT MORE THAN FIVE YEARS ALL NEW CORPORATE HEADQUARTERS, CORPORATE OFFICE FACILITIES, DISTRIBUTION FACILITIES, AND ADDITIONS TO SUCH FACILITIES LOCATED IN THE MUNICIPALITY, AND TO AUTHORIZE A SIMILAR EXEMPTION FOR ALL NEW ENTERPRISES ENGAGED IN RESEARCH AND DEVELOPMENT ACTIVITIES AND ADDITIONS TO SUCH ENTERPRISES LOCATED IN THE MUNICIPALITY AND TO PROVIDE THAT THESE EXEMPTIONS ARE SUBJECT TO THOSE TERMS AND CONDITIONS THAT THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
Conditional amendment ratified
SECTION 1. The amendment to item (g), Section 3, Article X of the Constitution of South Carolina, 1895, prepared under the terms of a Joint Resolution of 1994 bearing ratification number 424, having been submitted to the qualified electors at the general election of 1994 as prescribed in Section 1, Article XVI of the Constitution of South Carolina, 1895, and a favorable vote having been received on the amendment, is ratified and declared to be a part of the Constitution so that item (g), Section 3, Article X is amended by adding at the end:
"The governing body of a municipality may by ordinance exempt from municipal ad valorem taxation for not more than five years:
(1) all new corporate headquarters, corporate office facilities, distribution facilities located in the municipality, and additions to such facilities; and
(2) all facilities of new enterprises engaged in research and development activities located in the municipality, and additions to such facilities.
The exemptions allowed pursuant to this paragraph are subject to those terms and conditions that the General Assembly may provide by law."
Ratified the 11th day of May, 1995.