Current Status Bill Number:
4672Ratification Number: 467Act Number: 340Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19980219Primary Sponsor: EdgeAll Sponsors: Edge, Kelley, Keegan, Mullen, BarfieldDrafted Document Number: psd\7197mm.98Companion Bill Number: 1120Date Bill Passed both Bodies: 19980603Date of Last Amendment: 19980527Governor's Action: SDate of Governor's Action: 19980609Subject: Sales tax exemptions, vacation time sharing plan, multiple ownership interest; Taxation, Property, Gambling, Bingo
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19980617 Act No. A340 ------ 19980609 Signed by Governor ------ 19980604 Ratified R467 House 19980603 Concurred in Senate amendment, enrolled for ratification Senate 19980527 Read third time, returned to House with amendment Senate 19980527 Amended Senate 19980526 Read second time, notice of general amendments Senate 19980521 Recalled from Committee, 06 SF placed on the Calendar Senate 19980327 Introduced, read first time, 06 SF referred to Committee House 19980326 Read third time, sent to Senate House 19980325 Read second time House 19980325 Co-Sponsor added (Rule 5.2) by Rep. Barfield House 19980319 Committee report: Favorable 30 HWM House 19980219 Introduced, read first time, 30 HWM referred to CommitteeView additional legislative information at the LPITS web site.
(A340, R467, H4672)
AN ACT TO AMEND SECTION 12-36-2120, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM SALES TAX, SECTION 27-32-170, RELATING TO EXEMPTION FROM SALES TAX OF SALE OF A VACATION TIME SHARING PLAN, AND SECTION 27-32-250, AS AMENDED, RELATING TO EXEMPTION FROM SALES TAX OF SALE OF A VACATION MULTIPLE OWNERSHIP INTEREST, ALL SO AS TO EXEMPT FROM SALES TAX THE SALE OR RESALE OR THE EXCHANGE OF AN INTEREST IN A VACATION TIME SHARING PLAN OR A VACATION MULTIPLE OWNERSHIP INTEREST; TO AMEND SECTION 12-21-4020, AS AMENDED, RELATING TO CLASSES OF BINGO LICENSES, SO AS TO ALLOW CERTAIN CLASS D LICENSEES TO USE HARD BINGO CARDS; AND TO AMEND SECTION 12-21-4090, RELATING TO BINGO CHECKING AND SAVINGS ACCOUNTS, SO AS TO EXCEPT THE HOLDER OF A CLASS D FAIR BINGO LICENSEE FROM ITS PROVISIONS.
Be it enacted by the General Assembly of the State of South Carolina:
Exemptions from sales tax
SECTION 1. Section 12-36-2120(31) of the 1976 Code is amended to read:
(31) vacation time sharing plans, vacation multiple ownership interests, and exchanges of interests in vacation time sharing plans and vacation multiple ownership interests as provided by Chapter 32 of Title 27, and any other exchange of accommodations in which the accommodations to be exchanged are the primary consideration;
Sales of vacation time sharing plan
SECTION 2. Section 27-32-170 of the 1976 Code is amended to read:
"Section 27-32-170. The gross proceeds from the sale or resale of a vacation time sharing plan and the exchange of an interest in a vacation time sharing plan are exempt from sales tax imposed by Chapter 36 of Title 12 pursuant to the provisions of Section 12-36-2120."
Sales of vacation multiple ownership interest
SECTION 3. Section 27-32-250(2) of the 1976 Code is amended to read:
"(2) The sale or resale of any vacation multiple ownership interest and the exchange of an interest in a vacation multiple ownership interest is exempt from sales tax imposed by Chapter 36 of Title 12 pursuant to the provisions of Section 12-36-2120."
Classes of bingo licenses
SECTION 4. Section 12-21-4020(4) of the 1976 Code, as amended by Act 285 of 1998, is further amended to read:
"(4) CLASS D: A person, organization, or corporation desiring to conduct a bingo game at a fair as defined in Section 12-21-3920 and who offers prizes for each game of no more than fifty dollars in merchandise shall obtain only a temporary Class D bingo license at a cost of one hundred dollars for not more than ten days or two hundred dollars for more than ten days. The department, in its discretion, may allow certain Class D licensees to use hard bingo cards in lieu of the paper cards required by this article."
Bingo checking and savings account
SECTION 5. Section 12-21-4090(A) of the 1976 Code, as added by Act 449 of 1996, is amended to read:
"(A) The provisions of this section apply to the licensed nonprofit organization which is responsible for the special checking and savings accounts established by this section. The provisions of this section do not apply to the holder of a Class D fair bingo license."
SECTION 6. This act takes effect upon approval by the Governor.
Approved the 9th day of June, 1998.