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H 4936 - Requires that the property tax exemption of a nonprofit housing organization only applies to the percentage of property that equals the corporation's ownership interest

Tracking Level: Priority
Sponsor: Heath Sessions
Last Action: 1/24/2024 - House - Referred to Committee on Ways and Means
House Committee: WM
Assigned To:
Finance/Revenue/TaxesNext Bill
Property TaxesNext Bill

Staff Analysis of the Legislation
Summary of the bill as introduced: Requires that the property tax exemption of a nonprofit housing organization only applies to the percentage of property that equals the corporation's ownership interest in the property.

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Session 125 - (2023-2024)Printer Friendly
(pdf format)
H 4936 General Bill, By Sessions, Pope, Guffey and Ligon
Similar (S 0907, S 1017)
Summary: Nonprofit housing corporations
    A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE THAT THE EXEMPTION FOR CERTAIN PROPERTY OF A NONPROFIT HOUSING CORPORATION ONLY APPLIES TO THE PERCENTAGE OF PROPERTY THAT EQUALS THE CORPORATION'S OWNERSHIP INTEREST IN THE PROPERTY, TO PROVIDE AN EXCEPTION, AND TO PROVIDE CERTAIN CERTIFICATION AND NOTICE REQUIREMENTS.
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01/24/24House Introduced and read first time (House Journal-page 31)
01/24/24House Referred to Committee on Ways and Means (House Journal-page 31)


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