Staff Analysis of the Legislation
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04.24.2018 The Senate Finance Committee gave this bill a favorable report as amended. The amendment only makes technical changes.
03.21.2018 The House Ways and Means Committee gave this bill a favorable report as amended by the subcommittee.
03.20.2018 The House Ways and Means Economic Development subcommittee gave this bill a favorable report as amended. The amendment changes the agency responsible for the tax exemption from SC Parks, Recreation and Tourism to SC Department of Revenue. The amendment also deletes sections 2 and 3 of the bill.
Summary of the bill as introduced: Creates the Motorsports Tourism Incentive Fund to award grants or loans to attract and expand tourism and hospitality projects related to events at these complexes. The bill also increases the admission license tax exemption and removes the time period for the exemption. |
