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Indicates Matter Stricken
Indicates New Matter
Sponsors: Senators Timmons, Talley, Rice, Turner, Climer and Young
Document Path: l:\s-res\wrt\002asse.sp.wrt.docx
Companion/Similar bill(s): 3093
Introduced in the Senate on March 29, 2017
Introduced in the House on February 8, 2018
Last Amended on February 1, 2018
Currently residing in the House Committee on Ways and Means
Summary: Assessment ratios
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/29/2017 Senate Introduced and read first time (Senate Journal-page 4) 3/29/2017 Senate Referred to Committee on Finance (Senate Journal-page 4) 1/24/2018 Senate Committee report: Favorable with amendment Finance (Senate Journal-page 6) 2/1/2018 Senate Committee Amendment Adopted (Senate Journal-page 14) 2/6/2018 Senate Read second time (Senate Journal-page 21) 2/6/2018 Senate Roll call Ayes-43 Nays-0 (Senate Journal-page 21) 2/7/2018 Senate Read third time and sent to House (Senate Journal-page 39) 2/8/2018 House Introduced and read first time (House Journal-page 8) 2/8/2018 House Referred to Committee on Ways and Means (House Journal-page 8)
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VERSIONS OF THIS BILL
COMMITTEE AMENDMENT ADOPTED
February 1, 2018
Introduced by Senators Timmons, Talley, Rice, Turner and Climer
S. Printed 2/1/18--S.
Read the first time March 29, 2017.
TO AMEND SECTION 12-43-220(c) OF THE 1976 CODE, RELATING TO ASSESSMENT RATIOS, TO PROVIDE THAT, WHEN AN OWNER RECEIVING THE FOUR PERCENT ASSESSMENT RATIO DIES, THE PROPERTY SHALL CONTINUE TO RECEIVE THE SPECIAL ASSESSMENT RATE UNTIL THE DECEDENT'S ESTATE IS CLOSED, SO LONG AS THE PROPERTY IS NOT RENTED.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-220(c) of the 1976 Code, as last amended by Act 251 of 2016, is further amended by adding an appropriately numbered subitem at the end to read:
"( ) Notwithstanding any other provision of law, when an owner receiving the special assessment rate pursuant to item (c) dies, the property shall continue to receive the special assessment rate until the decedent's estate is closed, upon the recording of a deed or deed of distribution out of the estate, or after December thirty-first of the year following the date of death, whichever occurs first. This subitem does not apply if the property is rented for more than seventy-two days in or following the calendar year of the decedent's death or if a change of use occurs."
SECTION 2. This act takes effect upon approval by the Governor and applies to property tax years beginning after 2017.
This web page was last updated on February 9, 2018 at 12:05 PM