South Carolina General Assembly
116th Session, 2005-2006

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H. 3718

STATUS INFORMATION

General Bill
Sponsors: Reps. Huggins, Frye, Clark, Haley, Ballentine, Bingham, Toole and E.H. Pitts
Document Path: l:\council\bills\gjk\20308sd05.doc

Introduced in the House on March 8, 2005
Introduced in the Senate on April 26, 2006
Last Amended on April 25, 2006
Currently residing in the Senate Committee on Finance

Summary: Nonprofit housing corporation

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    3/8/2005  House   Introduced and read first time HJ-15
    3/8/2005  House   Referred to Committee on Ways and Means HJ-15
   4/20/2006  House   Committee report: Favorable with amendment Ways and 
                        Means HJ-8
   4/25/2006  House   Amended HJ-99
   4/25/2006  House   Read second time HJ-100
   4/26/2006  House   Read third time and sent to Senate HJ-19
   4/26/2006  Senate  Introduced and read first time SJ-4
   4/26/2006  Senate  Referred to Committee on Finance SJ-4

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/8/2005
4/20/2006
4/25/2006

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

Indicates Matter Stricken

Indicates New Matter

AMENDED

April 25, 2006

H. 3718

Introduced by Reps. Huggins, Frye, Clark, Haley, Ballentine, Bingham, Toole and E.H. Pitts

S. Printed 4/25/06--H.

Read the first time March 8, 2005.

            

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GENERAL EXEMPTIONS FROM AD VALOREM PROPERTY TAXES, SO AS TO DELETE THE EXEMPTION OF PROPERTY OF NONPROFIT HOUSING CORPORATIONS WHICH ARE DEVOTED TO PROVIDING HOUSING TO LOW AND VERY LOW INCOME RESIDENTS.

Amend Title To Conform

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

SECTION    1.    Section 12-37-220(B)(11)(e) of the 1976 Code, as added by Act 334 of 2002, is amended to read:

"(e)    All property of nonprofit housing corporations or solely-owned nonprofit instrumentalities of these corporations which is devoted to providing housing to low or very low income residents. A nonprofit housing corporation must satisfy the safe harbor provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service to qualify for this exemption."

SECTION    2.    The provisions of Section 1 of this act apply for calendar years beginning after December 31, 2005.

SECTION    3.    This act takes effect upon approval by the Governor.

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