Legislation Assigned to the Senate Fin Committee (49)

Date of Last Recorded Action: 5/1/2024


H 3027 Allows active duty Armed Services members to claim the four percent assessment ratio02.18.2014 The Senate Finance committee gaave this bill a favorable report as amended by the subcommittee.02.06.2014 The Senate Finance Property Taxation subcommittee gave this bill a favorable report with an amendment. The amendment changes the effective date from 2012 to 2013.04.17.2013 The House Ways and Means committee gave this bill a favorable report.04.16.2013 The House Ways and Means Property Tax subcommittee gave this bill a favorable report with an amendment. The amendment conforms the bill to the Senate version S301.Summary of the bill as introduced: Allows an active duty member of the US Armed Forces to claim the four percent assessment ratio on property regardless of the owner's relocation and regardless of any rental income. This bill also allows members to claim the four percent assessment ratio on two residences as long as the owner is trying the sell the first residence within 30 days of buying the second residence.
Sponsor: G. Murrell Smith, Jr. House Com: WM Senate Com: Fin
Status: Act No. 133 Status Date: 3/19/2014
Keywords: Property Taxes
Passed
H 3093 South Carolina Abandoned Buildings Revitalization Act 05.30.2013 The Senate Finance committee gave this bill a favorable report with an amendment. The amendment strikes all of the language in the bill and replaces it with the language in S234, the Senate version of the bill.04.17.2013 The House Ways and Means committee gave this bill a favorable report with an amendment. The amendment includes Savings and Loans in the state income tax credit.04.10.2013 The House Ways and Means Sales and Income Tax subcommittee gave this bill a favorable report with an amendment. The amendment makes the bill effective January 1, 2013.Summary of the bill as introduced: Allows a taxpayer making investments of a certain size in rehabilitating an abandoned building may receive income tax credits or credits against the property tax liability.
Sponsor: James E. Smith, Jr. House Com: WM Senate Com: Fin
Status: Act No. 57 Status Date: 6/18/2013
Keywords: Finance/Revenue/Taxes
Passed
H 3180 Transfers ownership of the Clover National Guard ArmorySummary of the bill as introduced: Transfers ownership of the Clover National Guard Armory to the Town of Clover.
Sponsor: Thomas E. "Tommy" Pope House Com: WM Senate Com: Fin
Status: Act No. 117 Status Date: 8/13/2013
Keywords: General Governance
Passed
H 3412 Requires the car tax to be credited to the State Highway Fund 04.23.2013 The Senate Finance Special Subcommittee on Transportation only heard testimony and did not take action on any bill on the agenda.02.19.2013 The House Ways and Means committee gave this bill a favorable report as amended by the subcommittee.02.07.2013 The House Ways and Means Revenue Policy Legislative subcommittee gave this bill a favorable report with an amendment. The amendment phases in the requirement over two years.Summary of the bill as introduced: Requires the sales, use and casual excise tax revenue from the sale, use or titling of  vehicles required to the registered and licensed by the state DMV to be credited to the state non-federal aid highway fund.
Sponsor: Robert W. Harrell, Jr. House Com: WM Senate Com: Fin
Status: Senate - Roll call Ayes-34 Nays-4 Status Date: 4/30/2014
Keywords: Finance/Revenue/Taxes Transportation
Of Interest
H 3501 Allows the General Assembly to cut the Local Government Fund 02.19.2013 The House Ways and Means committee gave this bill a favorable report.02.07.2013 The House Ways and Means Revenue Policy Legislative subcommittee gave this bill a favorable report.Summary of the bill as introduced: Suspends the law that restricts amending or repealing provisions in the State Aid to Subdivisions Act for FY 2013-2014 and FY2014-2015.
Sponsor: W. Brian White House Com: WM Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 2/28/2013
Keywords: Finance/Revenue/Taxes
Priority
H 3505 High Growth Small Business Access to Capital Act of 2013 05.30.2013 The Senate Finance committee gave this bill a favorable report with an amendment. The amedment adds the date of January 1 for the annual submission of data.04.17.2013 The House Ways and Means committee gave this bill a favorable report.Summary of the bill as introduced: Provides state nonrefundable income tax credits for qualified investments in businesses meeting certain criteria and primarily engaged in manufacturing, processing, warehousing, wholesaling, software development, IT services and research and development.
Sponsor: Dwight A. Loftis House Com: WM Senate Com: Fin
Status: Act No. 80 Status Date: 6/24/2013
Keywords: Economic Development
Passed
H 3561 Deletes certain items subject to the additional 5 percent tax on accommodations taxes02.25.2014 The Senate Finance committee gave this bill a favorable report.02.18.2014 The Senate Finance committee carried this bill over.02.05.2014 The Senate Finance Sales and Income Taxation subcommittee gave this bill a favorable report.04.17.2013 The House Ways and Means committee gave this bill a favorable report with an amendment. The amendment conforms the bill language to the budget proviso.04.09.2013 The House Ways and Means Licenses, Fees, Insurance Tax and Other Charges subcommittee gave this bill a favorable report.Summary of the bill as introduced: Deletes certain items subject to the 5 percent tax on additional surcharges for the accommodations tax. Those items that are deleted are room service, amenities, entertainment, items in promotional tourist packages, in room movies and other guest services.
Sponsor: W. Brian White House Com: WM Senate Com: Fin
Status: Act No. 172 Status Date: 6/2/2014
Keywords: Accommodations/Hospitality Taxes
Passed
H 3710 State Budget BillSummary of the bill as introduced: Makes appropriations and provides revenues to meet the ordinary expenses of state government for FY 2013.
Sponsor: Ways and Means House Com: Senate Com: Fin
Status: Act No. 101 Status Date: 8/1/2013
Keywords: Finance/Revenue/Taxes
Passed
H 3711 Capital Reserve FundSummary of the bill as introduced: Appropriates money from the capital reserve fund for FY 2013.
Sponsor: Ways and Means House Com: Senate Com: Fin
Status: Act No. 104 Status Date: 8/13/2013
Keywords: Finance/Revenue/Taxes
Passed
H 3767 Excludes gross proceeds from rental from the accommodations tax 04.17.2013 The House Ways and Means committee gave this bill a favorable report.04.10.2013 The House Ways and Means Sales and Income Tax subcommittee gave this bill a favorable report.Summary of the bill as introduced: Clarifies that the accommodations tax does not apply to gross proceeds from rentals received by persons renting their personal residence for fewer than 15 days in a year.
Sponsor: William M. "Bill" Hixon House Com: WM Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 4/25/2013
Keywords: Sales Taxes
Of Interest
S 0007 Makes changes to the SC tax code related to county auditors 02.05.2013 The Senate Finance committee gave this bill a favorable report.01.22.2013 The Senate Finance Property Taxation subcommittee gave this bill a favorable report.Summary of the bill as introduced: Conforms language in current law related to county tax offices and responsibilities of county auditors.
Sponsor: John E. Courson House Com: WM Senate Com: Fin
Status: House - Referred to Committee on Ways and Means Status Date: 2/20/2013
Keywords: Finance/Revenue/Taxes
Of Interest
S 0014 Establishes the Palmetto Highway Improvement Fund 04.23.2013 The Senate Finance Special Subcommittee on Transportation only heard testimony and did not take action on any bill on the agenda.Summary of the bill as introduced: Establishes money in the state budget separate from the general fund from revenue surpluses for highway improvements.
Sponsor: Lawrence K. "Larry" Grooms House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Transportation
Priority
S 0015 Taxpayer Fairness Act 02.05.2013 The Senate Finance committee gave this bill a favorable report.01.22.2013 The Senate Finance Sales and Income Taxation subcommittee gave this bill a favorable report.Summary of the bill as introduced: Outlines how the SC Department of Revenue must interpret tax statutes and prohibits tax statutes from being given broader meaning than intended by policy documents and regulations.
Sponsor: Lawrence K. "Larry" Grooms House Com: WM Senate Com: Fin
Status: House - Referred to Committee on Ways and Means Status Date: 2/21/2013
Keywords: Finance/Revenue/Taxes
Of Interest
S 0027 South Carolina Business Tax Elimination ActSummary of the bill as introduced: Allows the owner of a pass-through business eligible for the reduced five percent tax rate on active trade or business income to defer taxes otherwise due on retained active trade or business income until the retained income is distributed at which time the tax rate applied is seven percent.
Sponsor: George E. "Chip" Campsen III House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Finance/Revenue/Taxes
Of Interest
S 0032 Allows certain limited liability companies the four percent property tax rateSummary of the bill as introduced: Allows a single member LLC owning residential real property where the single member is an individual and the LLC is not taxed as a corporation the assessment ratio for owner-occupied residential property.
Sponsor: George E. "Chip" Campsen III House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Property Taxes
Of Interest
S 0082 Reduces property taxes on manufacturing to six percentSummary of the bill as introduced: Reduces the assessment ratio of property taxes on manufacturing, utility and mining real and personal property from 10.5 percent to six percent.
Sponsor: Lee Bright House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Finance/Revenue/Taxes Property Taxes
Of Interest
S 0138 Allows certain investments in obligations for local governments 02.26.2013 The Senate Finance committee carried this bill over.02.20.2013 The Senate Finance Property Tax subcommittee gave this bill a favorable report with amendment. The amendment gives the state Treasurer's Office the authority to approve local investments in corporate bonds.Summary of the bill as introduced: Allows local governments to invest in obligations of a corporation, state or political subdivision denominated in US dollars if the obligations bear an investment grade rating of at least two nationally recognized rating services.
Sponsor: Joel Lourie House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Finance/Revenue/Taxes
Of Interest
S 0149 Local Option Motor Fuel User Fee Act 04.23.2013 The Senate Finance Special Subcommittee on Transportation only heard testimony and did not take action on any bill on the agenda.Summary of the bill as introduced: Allows a county to impose by ordinance and approved by referendum a user fee of no more than two cents per gallon on retail sales of motor fuel for the sole purpose of road improvement projects and road maintenance within the county.
Sponsor: Chauncey K. Gregory House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Transportation
Priority
S 0185 South Carolina Fair Tax ActSummary of the bill as introduced: Outlines new taxing procedures under the Act.
Sponsor: Lawrence K. "Larry" Grooms House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/8/2013
Keywords: Finance/Revenue/Taxes
Of Interest
S 0209 Makes changes to the Transportation Infrastructure Bank 04.23.2013 The Senate Finance Special Subcommittee on Transportation only heard testimony and did not take action on any bill on the agenda.Summary of the bill as introduced: Makes changes to the and requirements for projects under the Transportation Infrastructure Bank.
Sponsor: Harvey S. Peeler, Jr. House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/10/2013
Keywords: Finance/Revenue/Taxes Transportation
Of Interest
S 0210 Requires the car sales tax revenue to be credited to the state highway fund 04.23.2013 The Senate Finance Special Subcommittee on Transportation only heard testimony and did not take action on any bill on the agenda.Summary of the bill as introduced: Requires the sales tax revenue generated from the sale of a motor vehicle or the execution of a lease for a motor vehicle be credited to the state highway fund for maintenance of existing roads.
Sponsor: Shane R. Martin House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/10/2013
Keywords: Sales Taxes Transportation
Of Interest
S 0232 Keeps the same heath plan premiums at the 2012 rates for the 2013 calendar yearSummary of the bill as introduced: Requires premiums for enrollees in the state health plan to remain at the rate determined in 2012 for the 2013 calendar year.
Sponsor: Nikki G. Setzler House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/15/2013
Keywords: Employment/Personnel
Of Interest
S 0234 South Carolina Abandoned Buildings Revitalization Act05.14.2014 The House Ways and Means committee gave this bill a favorable report with amendments. The amendments allows property tax credits to be transferred when the property is sold and adds language from H3834, the solar energy tax credit bill.05.08.2014 The House Ways and Means Sales and Income Tax subcommittee gave this bill a favorable report with  an amendment. The amendment opens up the definition of abandoned buildings to include large state owned historic buildings. It further increases the historic preservation tax credit from 10 percent to 24 percent.02.26.2013 The Senate Finance committee gave this bill a favorable report as amended by the subcommittee.02.20.2013 The Senate Finance Sales and Income Taxation subcommittee gave this bill a favorable report with an amendment. The amendment strikes all the language in the bill and replaces it with language from H3093, the House version of the bill. The House version includes language requested by the Municipal Association that allows cities to determine the amount of the tax credit based on population.Summary of the bill as introduced: Allows a taxpayer making investments of a certain size in rehabilitating an abandoned building may receive income tax credits or credits against the property tax liability.  
Sponsor: Creighton B. Coleman House Com: Senate Com: Fin
Status: House - Requests for debate-Rep Status Date: 6/3/2014
Keywords: Finance/Revenue/Taxes
Priority
S 0258 Transfers money from the Insurance Reserve Fund to the Spartanburg Disaster Relief FundSummary of the bill as introduced: Transfers two million dollars from the Insurance Reserve Fund to the Spartanburg Disaster Relief Fund. This bill also creates the Spartanburg Disaster Relief Fund to compensate victims of the train derailment in Cleveland Park.
Sponsor: Harvey S. Peeler, Jr. House Com: Senate Com: Fin
Status: Senate - Referred to Committee on Finance Status Date: 1/17/2013
Keywords: Finance/Revenue/Taxes General Governance
Of Interest
S 0262 High Growth Small Business Job Creation Act of 2013 02.05.2013 The Senate Finance committee gave this bill a favorable report.Summary of the bill as introduced: Creates state nonrefundable income tax credits for qualified investments in businesses meeting certain criteria and primarily engaged in manufacturing, processing, warehousing, wholesaling, software development, IT services, research and development.
Sponsor: Hugh K. Leatherman, Sr. House Com: WM Senate Com: Fin
Status: House - Referred to Committee on Ways and Means Status Date: 3/19/2013
Keywords: Economic Development Finance/Revenue/Taxes
Of Interest






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