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S 1043 - Extends the South Carolina Abandoned Buildings Revitalization Act until December 31, 2025

Tracking Level: Priority
Sponsor: Ross Turner (R)
Last Action: 7/3/2018 - Vetoed by Governor
Senate Committee: Fin
Assigned To:
Finance/Revenue/TaxesNext Bill
Week of 02.19.2018Next Bill
Week of 03.26.2018Next Bill
Week of 04.23.2018Next Bill

Staff Analysis of the Legislation

04.24.2018 The Senate Finance Committee gave this bill a favorable report as amended. The amendment extends the tax credit until 2021 and establishes credit limits for certain building sites that qualify for the tax credit.
03.29.2018 The Senate Finance Sales and Income Tax subcommittee gave this bill a favorable report as amended. The amendment extends the tax for two years until 2021.
Summary of the bill as introduced: Extends the South Carolina Abandoned Buildings Revitalization Act until December 31, 2025.

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Session 122 - (2017-2018)Printer Friendly
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S*1043 (Rat #0291, Act #0265 of 2018) General Bill, By Turner and Talley
Summary: SC Abandoned Buildings and Revitalization Act
    AN ACT TO EXTEND THE PROVISIONS OF THE SOUTH CAROLINA ABANDONED BUILDINGS REVITALIZATION ACT AS CONTAINED IN CHAPTER 67, TITLE 12 OF THE 1976 CODE UNTIL DECEMBER 31, 2021; TO AMEND SECTION 12-67-140, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TAX CREDIT FOR REVITALIZING AN ABANDONED BUILDING, SO AS TO SPECIFY THE MANNER IN WHICH CERTAIN BUILDINGS MAY BE SUBDIVIDED; TO AMEND SECTION 12-65-20, RELATING TO THE SOUTH CAROLINA TEXTILES COMMUNITIES REVITALIZATION ACT, SO AS TO MODIFY CERTAIN DEFINITIONS; TO AMEND SECTION 12-6-50, RELATING TO SECTIONS OF THE INTERNAL REVENUE CODE SPECIFICALLY NOT ADOPTED BY THIS STATE, SO AS TO REMOVE THE ALTERNATIVE TAX ON QUALIFYING SHIPPING ACTIVITIES; TO AMEND SECTION 12-6-1110, RELATING TO MODIFICATIONS OF INCOME, SO AS TO MAKE A CONFORMING CHANGE; TO AMEND SECTIONS 12-67-140 AND 12-6-3535, RELATING TO THE TAX CREDIT FOR REHABILITATING AN ABANDONED BUILDING OR A CERTIFIED HISTORIC STRUCTURE, RESPECTIVELY, SO AS TO SPECIFY THE MANNER IN WHICH UNUSED CREDIT MAY BE CARRIED FORWARD AND ALLOCATED; BY ADDING SECTION 12-6-3378 SO AS TO ALLOW A TAX CREDIT TO AN AGRIBUSINESS OPERATION OR AN AGRICULTURAL PACKAGING OPERATION THAT INCREASES ITS PURCHASES OF AGRICULTURAL PRODUCTS WHICH HAVE BEEN CERTIFIED AS SOUTH CAROLINA GROWN, AND TO SPECIFY THE MANNER IN WHICH THE CREDIT IS ADMINISTERED; TO AMEND SECTION 12-10-80, RELATING TO THE JOBS DEVELOPMENT CREDIT, SO AS TO MAKE CERTAIN QUALIFYING SERVICE-RELATED FACILITIES ELIGIBLE FOR THE CREDIT; TO AMEND SECTION 12-6-2295, RELATING TO ITEMS INCLUDED AND EXCLUDED FROM THE TERMS "SALES" AND "GROSS RECEIPTS", SO AS TO PROVIDE THAT RECEIPTS FROM THE PROVISION OF DIRECT BROADCAST SATELLITE SERVICE ARE ATTRIBUTABLE TO THIS STATE IN PRO RATA PROPORTION OF THE COSTS OF PERFORMING THE SERVICE; TO AMEND SECTION 12-60-30, RELATING TO SOUTH CAROLINA REVENUE PROCEDURES DEFINITIONS, SO AS TO PROVIDE ADDITIONAL DEFINITIONS; TO AMEND SECTION 12-60-450, RELATING TO APPEALS OF PROPOSED ASSESSMENTS, SO AS TO REQUIRE THE DEPARTMENT TO NOTIFY AFFECTED COUNTIES IN CERTAIN INSTANCES; TO AMEND SECTION 12-60-2120, RELATING TO PROPERTY TAX APPEALS BY WRITTEN PROTEST, SO AS TO PROVIDE THAT THE DEPARTMENT SHALL NOTIFY ANY AFFECTED COUNTIES OF A WRITTEN PROTEST; TO AMEND SECTION 12-60-2140, RELATING TO CERTAIN PAYMENTS AND REFUNDS, SO AS TO PROVIDE THAT NO REFUND IS DUE FOR ANY TAX YEAR BEFORE THE THREE TAX YEARS IMMEDIATELY PRECEDING THE FINAL DETERMINATION; AND TO AMEND SECTION 12-60-2150, RELATING TO FILING A CLAIM FOR A REFUND, SO AS TO PROVIDE FOR CERTAIN NOTIFICATIONS AND TO PROVIDE THAT A FAILURE TO TIMELY ISSUE A WRITTEN NOTICE IS CONSIDERED A DENIAL. - ratified title
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02/22/18Senate Introduced and read first time (Senate Journal-page 6)
02/22/18Senate Referred to Committee on Finance (Senate Journal-page 6)
04/24/18Senate Committee report: Favorable with amendment Finance (Senate Journal-page 11)
04/25/18 Scrivener's error corrected
04/26/18Senate Committee Amendment Adopted
04/26/18Senate Read second time (Senate Journal-page 22)
04/26/18Senate Roll call Ayes-41 Nays-1 (Senate Journal-page 22)
04/26/18Senate Unanimous consent for third reading on next legislative day (Senate Journal-page 22)
04/27/18Senate Read third time and sent to House (Senate Journal-page 4)
05/01/18House Introduced, read first time, placed on calendar without reference (House Journal-page 62)
05/03/18House Amended (House Journal-page 13)
05/03/18House Read second time (House Journal-page 13)
05/03/18House Roll call Yeas-92 Nays-0 (House Journal-page 14)
05/03/18House Unanimous consent for third reading on next legislative day (House Journal-page 15)
05/04/18House Read third time and returned to Senate with amendments (House Journal-page 2)
05/09/18Senate House amendment amended (Senate Journal-page 132)
05/09/18Senate Roll call Ayes-43 Nays-0 (Senate Journal-page 132)
05/09/18Senate Returned to House with amendments (Senate Journal-page 132)
05/10/18House Non-concurrence in Senate amendment (House Journal-page 78)
05/10/18House Roll call Yeas-2 Nays-101 (House Journal-page 78)
05/10/18Senate Senate insists upon amendment and conference committee appointed Reese, Grooms,, Talley (Senate Journal-page 17)
05/10/18House Conference committee appointed Cole, Simrill, Rutherford (House Journal-page 87)
06/28/18Senate Conference report received and adopted (Senate Journal-page 16)
06/28/18Senate Roll call Ayes-38 Nays-0 (Senate Journal-page 16)
06/28/18House Conference report received and adopted (House Journal-page 42)
06/28/18House Roll call Yeas-99 Nays-1 (House Journal-page 54)
06/28/18House Ordered enrolled for ratification (House Journal-page 55)
06/29/18 Ratified R 291
07/03/18 Vetoed by Governor
10/02/18Senate Veto overridden Ayes-31 Nays-8 (Senate Journal-page 11)
10/03/18House Veto overridden Yeas-112 Nays-4 (House Journal-page 21)
10/08/18 Effective date See Act
10/09/18 Act No. 265



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