Bill Text: SC S0227 | 2015-2016 | 121st General Assembly | Amended
Bill Title: Remission of redevelopment fees
Spectrum: Partisan Bill (Republican 3-0)
Status: (Passed) 2016-06-16 - Act No. 255 [S0227 Detail]
Download: South_Carolina-2015-S0227-Amended.html
RECALLED
May 31, 2016
S. 227
S. Printed 5/31/16--H.
Read the first time April 28, 2016.
A BILL
TO AMEND SECTION 12-10-88 OF THE 1976 CODE, RELATING TO THE REMISSION OF REDEVELOPMENT FEES TO A REDEVELOPMENT AUTHORITY, TO EXTEND THE END DATE FOR REMISSIONS FROM JANUARY 1, 2017, TO JANUARY 1, 2037.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-10-88(C) of the 1976 Code is amended to read:
"(C) Redevelopment fees may be remitted to the applicable redevelopment authority for a period beginning with the date that the applicable redevelopment authority first submits the information described in subsection (B) to the department and ending fifteen years later or January 1, 2017 2021, whichever occurs last. If the redevelopment authority fails to provide the department with the required statement within the requisite time limits, no redevelopment fees must be remitted for that quarter. Notwithstanding subsection (A), the redevelopment fee remitted by the department in any fiscal year may not exceed the amount remitted in Fiscal Year 2014-2015."
SECTION 2. This act takes effect upon approval by the Governor.
