South Carolina General Assembly
114th Session, 2001-2002

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Bill 543


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                      543
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010404
Primary Sponsor:                  Hayes
All Sponsors:                     Hayes
Drafted Document Number:          l:\council\bills\gjk\20444sd01.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Electric facility sales, transfers exempt 
                                  from sales tax, deed recording fees; Property, 
                                  Electricity, Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20010404  Introduced, read first time,           06 SF
                  referred to Committee


              Versions of This Bill

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-24-40, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM DEED RECORDING FEES; AND SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM SALES TAX, SO AS TO PROVIDE EXEMPTIONS FROM SALES TAX AND DEED RECORDING FEES FOR SALES, EXCHANGES, AND TRANSFERS OF ELECTRIC GENERATION, TRANSMISSION, AND DISTRIBUTION FACILITIES.

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

SECTION 1. Section 12-24-40 of the 1976 Code is amended by adding a new item (15) to read:

"(15) transferring title to facilities for generating, transmitting, delivering, or furnishing electricity that are transferred, sold, or exchanged by electrical utilities, municipalities, electric cooperatives, or political subdivisions;"

SECTION 2. Section 12-36-2120 of the 1976 Code is amended by adding a new item (59) to read:

"(59) facilities for generating, transmitting, delivering, or furnishing electricity that are transferred, sold, or exchanged by electrical utilities, municipalities, electric cooperatives, or political subdivisions;"

SECTION 3. This act takes effect upon approval by the Governor and applies with respect to sales or deeds made or recorded after this date.

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