Staff Analysis of the Legislation
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05.18.2016 The House Ways and Means Committee gave this bill a favorable report as amended by the subcommittee. 05.17.2016 The House Ways and Means Revenue Policy subcommittee gave this bill a favorable report as amended. The amendment includes property owned by the Pinewood Site Custodial Trust as eligible for the income tax credit for certain solar energy property. 04.21.2016 The House Judiciary Constitutional Laws subcommittee carried this bill over. 02.16.2016 The Senate Finance Committee gave this bill a favorable report as amended. The amendment changes the effective date from 2015 to 2016. 05.19.2015 The Senate Finance Committee carried this bill over. 05.12.2015 The Senate Finance Property Taxation subcommittee gave this bill a favorable report with an amendment. As soon as the amendment is available, it will be posted. Summary of the bill as introduced: Exempts 80 percent of the fair market value of a renewable energy resource for 10 years. |
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S 0626 General Bill, By Gregory, Hayes and Reese Summary: Property tax exemption A BILL TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT EIGHTY PERCENT OF THE FAIR MARKET VALUE OF A RENEWABLE ENERGY RESOURCE FOR A PERIOD OF TEN YEARS PROVIDED THE PROPERTY IS OPERATIONAL BY DECEMBER 31, 2020, AND TO EXEMPT A DISTRIBUTED RENEWABLE ENERGY GENERATION PROPERTY FOR RESIDENTIAL USE. View full text View Vote History View Fiscal Impact03/26/15 | Senate | Introduced and read first time (Senate Journal-page 11) | 03/26/15 | Senate | Referred to Committee on Finance (Senate Journal-page 11) | 02/17/16 | Senate | Committee report: Favorable with amendment Finance (Senate Journal-page 8) | 03/01/16 | Senate | Committee Amendment Amended and Adopted (Senate Journal-page 7) | 03/01/16 | Senate | Read second time (Senate Journal-page 7) | 03/01/16 | Senate | Roll call Ayes-32 Nays-0 (Senate Journal-page 7) | 03/02/16 | Senate | Read third time and sent to House (Senate Journal-page 10) | 03/03/16 | House | Introduced and read first time (House Journal-page 12) | 03/03/16 | House | Referred to Committee on Judiciary (House Journal-page 12) | 05/03/16 | House | Recalled from Committee on Judiciary (House Journal-page 22) | 05/03/16 | House | Recommitted to Committee on Ways and Means (House Journal-page 22) | 05/19/16 | House | Committee report: Favorable with amendment Ways and Means (House Journal-page 107) | 05/20/16 | | Scrivener's error corrected | 05/26/16 | House | Debate adjourned until Tues., 5-31-16 (House Journal-page 76) | 05/31/16 | House | Requests for debate-Rep(s). Bedinfield, Forrester, Atwater, Hiott, Hixon, Sandifer, Rhyal, Hardee, Hill, Merrill, Rivers, Johnson, Yow, Taylor, (House Journal-page 11) | 05/31/16 | House | Amended (House Journal-page 50) | 05/31/16 | House | Read second time (House Journal-page 50) | 05/31/16 | House | Roll call Yeas-54 Nays-36 (House Journal-page 50) | 06/01/16 | | Scrivener's error corrected | 06/01/16 | House | Read third time and returned to Senate with amendments (House Journal-page 99) | 06/02/16 | Senate | House amendment amended (Senate Journal-page 90) | 06/02/16 | Senate | Returned to House with amendments (Senate Journal-page 90) |
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