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S 1017 -
Applies a property tax exemption for nonprofit housing corporations only to a certain percentage of the property
Tracking Level:
Priority
Sponsor:
Michael Johnson
Last Action:
5/2/2024 - House - Requests for debate-Rep(s). Sandifer, Bannister, Long, Bustos, Calhoon, Mitchell, Murphy, Brewer, Whitmire, Robbins, Yow
Senate Committee:
Fin
House Committee:
WM
Assigned To:
Annexation
Next Bill
Property Taxes
Next Bill
Staff Analysis of the Legislation
04.25.2024
The House Ways and Means Committee gave this bill a favorable report as amended. The committee removed the subcommittee amendment and added language that qualifies projects that set lower income thresholds for residents in cities located within a North Carolina metropolitan statistical area whose population exceeds 500,000 residents.
04.23.2024
The House Ways and Means Property Tax subcommittee gave this bill a favorable report as amended. The amendment changes the language of the bill so that in order to qualify for the property tax exemption all of the units within an eligible project in certain zip codes be rented to very low income residents as designated by HUD's Fair Market Rent guidelines.
04.17.2024
THe House Ways and Means Property Tax subcommittee adjourned debate on this bill.
02.27.2024
The Senate Finance Committee gave this bill a favorable report.
02.22.2024
The Senate Finance Property Taxation subcommittee gave this bill a favorable report.
Summary of the bill as introduced
:
Applies a property tax exemption for nonprofit housing corporations only to the percentage of property that equals the corporation's ownership interest in the property. This bill also prohibits annexation of agricultural property by a municipality without express written agreement by the owner.
Bill Summary from the State Site -
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Session 125 - (2023-2024)
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(pdf format)
S 1017 General Bill, By
M. Johnson
,
Peeler
,
Climer
,
Setzler
and
Kimbrell
Similar (
S 0907
,
H 4936
)
Summary:
Property
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; AND BY ADDING SECTION 12-37-160 SO AS TO PROVIDE THAT CERTAIN PROPERTY ASSESSED AS AGRICULTURAL OR RELATED THERETO MAY NOT BE ANNEXED BY A MUNICIPALITY.
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View Vote History
View Fiscal Impact
02/01/24
Senate
Introduced and read first time (
Senate Journal-page 6
)
02/01/24
Senate
Referred to Committee on Finance (
Senate Journal-page 6
)
02/28/24
Senate
Committee report: Favorable Finance (
Senate Journal-page 14
)
03/01/24
Scrivener's error corrected
03/20/24
Senate
Amended (
Senate Journal-page 18
)
03/20/24
Senate
Read second time (
Senate Journal-page 18
)
03/20/24
Senate
Roll call
Ayes-46 Nays-0
(
Senate Journal-page 18
)
03/21/24
Scrivener's error corrected
03/21/24
Senate
Read third time and sent to House (
Senate Journal-page 11
)
03/26/24
House
Introduced and read first time (
House Journal-page 24
)
03/26/24
House
Referred to Committee on Ways and Means (
House Journal-page 24
)
04/25/24
House
Committee report: Favorable with amendment Ways and Means (
House Journal-page 20
)
05/02/24
House
Requests for debate-Rep(s). Sandifer, Bannister, Long, Bustos, Calhoon, Mitchell, Murphy, Brewer, Whitmire, Robbins, Yow
Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299,
mail@masc.sc