Bill 3554

                    Current Status

Bill Number:                    3554
Ratification Number:            164
Act Number:                     85
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19970227
Primary Sponsor:                Boan 
All Sponsors:                   Boan 
Drafted Document Number:        dka\4047mm.97
Date Bill Passed both Bodies:   19970527
Governor's Action:              S
Date of Governor's Action:      19970610
Subject:                        Sales and use tax exemption,
                                personal property purchased pursuant to
                                contract with federal government,
                                Taxation

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

------  19970630  Act No. A85
------  19970610  Signed by Governor
------  19970604  Ratified R164
Senate  19970527  Read third time, enrolled for
                  ratification
Senate  19970522  Read second time, notice of
                  general amendments
Senate  19970521  Committee report: Favorable              06 SF
Senate  19970501  Introduced, read first time,             06 SF
                  referred to Committee
House   19970430  Read third time, sent to Senate
House   19970429  Read second time
House   19970417  Committee report: Favorable              30 HWM
House   19970227  Introduced, read first time,             30 HWM
                  referred to Committee

(A85, R164, H3554)

AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO SALES AND USE TAX EXEMPTIONS, SO AS TO CLARIFY THE CIRCUMSTANCES FOR EXEMPTION OF TANGIBLE PERSONAL PROPERTY PURCHASED PURSUANT TO A CONTRACT WITH THE FEDERAL GOVERNMENT.

Be it enacted by the General Assembly of the State of South Carolina:

Exempts from sales and use tax tangible personal property purchased from federal government

SECTION 1. Section 12-36-2120(29) of the 1976 Code, as added by Act 431 of 1996, is amended to read:

"(29) tangible personal property purchased by persons under a written contract with the federal government when the contract necessitating the purchase provides that title and possession of the property is to transfer from the contractor to the federal government at the time of purchase or after the time of purchase. This exemption also applies to purchases of tangible personal property which becomes part of real or personal property owned by the federal government or, as provided in the written contract, is to transfer to the federal government. This exemption does not apply to purchases of tangible personal property used or consumed by the purchaser;"

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 10th day of June, 1997.