South Carolina House Bill 4936 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 4 2010 - 25% progression, died in committee
Action: 2010-05-04 - Referred to Committee on Ways and Means HJ-29
Pending: House Ways and Means Committee

A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 12 TO CHAPTER 10, TITLE 4 ENACTING THE "MUNICIPAL ECONOMIC DEVELOPMENT SALES AND USE TAX ACT" SO AS TO ALLOW A MUNICIPALITY LOCATED IN A COUNTY CLASSIFIED FOR PURPOSES OF THE TARGETED JOBS TAX CREDIT AS DISTRESSED, LEAST DEVELOPED, OR UNDERDEVELOPED TO IMPOSE A SALES AND USE TAX NOT TO EXCEED ONE PERCENT OF AMOUNTS SUBJECT TO TAX PURSUANT TO CHAPTER 36, TITLE 12, THE SOUTH CAROLINA SALES AND USE TAX ACT, FOR NOT MORE THAN TEN YEARS, TO PROVIDE THAT A MUNICIPALITY MAY IMPOSE THE TAX BY ORDINANCE, TO PROVIDE FOR THE ADMINISTRATION OF THE TAX, AND TO PROVIDE THAT THE TAX REVENUE MUST BE USED EXCLUSIVELY FOR PROMOTING ECONOMIC DEVELOPMENT IN THE MUNICIPALITY.

Allow A Municipality Located In A County Classified For Purposes Of The Targeted Jobs Tax Credit As Distressed, Least Developed, Or Underdeveloped To Impose A Sales And Use Tax Not To Exceed One Percent Of Amounts Subject To Tax Pursuant To Chapter 36, Title 12, The South Carolina Sales And Use Tax Act, For Not More Than Ten Years, To Provide That A Municipality May Impose The Tax By Ordinance, To Provide For The Administration Of The Tax, And To Provide That The Tax Revenue Must Be Used Exclusively For Promoting Economic Development In The Municipality.

Rep. Curtis Brantley [D]

Date	Chamber	Action
2010-05-04		Referred to Committee on Ways and Means HJ-29
2010-05-04		Introduced and read first time HJ-29

Type	Source
Summary	https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=4936&session=118