Bill Text: SC S1119 | 2021-2022 | 124th General Assembly | Comm Sub

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Bill Title: Property tax exemption

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2022-04-19 - Referred to Committee on Ways and Means [S1119 Detail]

Download: South_Carolina-2021-S1119-Comm_Sub.html

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

COMMITTEE AMENDMENT ADOPTED

April 7, 2022

S. 1119

Introduced by Senator Fanning

S. Printed 4/7/22--S.

Read the first time March 3, 2022.

            

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 ALL REAL PROPERTY OWNED BY A NONPROFIT EDUCATIONAL FOUNDATION OF A PUBLIC SCHOOL DISTRICT AND WHICH IS DEVOTED TO PROVIDING HOUSING FOR CLASSROOM TEACHERS.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-37-220(B)(11) of the 1976 Code, as last amended by Act 68 of 2021, is further amended by adding an appropriately lettered subitem to read:

"( )    all real property owned by a nonprofit educational foundation of a public school district and which is devoted to providing housing for teachers and teacher interns in the school district, so long as the property was exempt from property taxes for at least the previous ten property tax years;"

SECTION    2.    This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2021.