South Carolina House Bill 4514 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on May 3 2010 - 100% progression
Action: 2010-05-03 - Act No. 150

AN ACT TO AMEND SECTION 12-44-30, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FEE IN LIEU OF TAX SIMPLIFICATION ACT, SO AS TO REVISE THE DEFINITION OF "TERMINATION DATE"; AND TO AMEND SECTION 12-6-590, AS AMENDED, RELATING TO TREATMENT OF "S" CORPORATIONS FOR TAX PURPOSES, SO AS TO PROVIDE THAT A SPECIFIED AMOUNT OF INCOME TAXES PAID BY RESIDENT AND NONRESIDENT SHAREHOLDERS OF CERTAIN "S" CORPORATIONS ENGAGED IN MANUFACTURING MUST BE DEPOSITED INTO A SPECIAL FUND AND DISTRIBUTED BY THE COORDINATING COUNCIL FOR ECONOMIC DEVELOPMENT AS GRANTS FOR PUBLIC INFRASTRUCTURE IMPROVEMENTS, WHICH DIRECTLY SUPPORT THE PROJECTS, AND TO PROVIDE FOR GUIDELINES TO ADMINISTER THE FUND AND APPLICATIONS FOR THE GRANTS. - ratified title

Provide That A Specified Amount Of Income Taxes Paid By Resident And Nonresident Shareholders Of Certain "s" Corporations Engaged In Manufacturing Must Be Deposited Into A Special Fund And Distributed By The Coordinating Council For Economic Development As Grants For Public Infrastructure Improvements, Which Directly Support The Projects, And To Provide For Guidelines To Administer The Fund And Applications For The Grants. - Ratified Title

Rep. Daniel Cooper [R]

Date	Chamber	Action
2010-05-03		Act No. 150
2010-04-30		Effective date 04/27/10
2010-04-27		Became law without Governor's signature
2010-04-20		Ratified R 174
2010-04-13		Read third time and enrolled SJ-14
2010-03-31		Read second time SJ-17
2010-03-24		Committee report: Favorable Finance SJ-13
2010-03-02		Referred to Committee on Finance SJ-20
2010-03-02		Introduced and read first time SJ-20
2010-02-26		Scrivener's error corrected
2010-02-26		Read third time and sent to Senate HJ-4
2010-02-25		Unanimous consent for third reading on next legislative day HJ-57
2010-02-25		Read second time HJ-57
2010-02-25		Amended HJ-56
2010-02-17		Committee report: Favorable Ways and Means HJ-1
2010-02-03		Referred to Committee on Ways and Means HJ-3
2010-02-03		Introduced and read first time HJ-3

Chapter	Article	Section	Citation Type	Statute Text
12	44	30	(n/a)	See Bill Text
12	6	590	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=4514&session=118