Bill Text: SC S0481 | 2013-2014 | 120th General Assembly | Amended

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Bill Title: Admissions license tax exemption for motorsports entertainment complex

Spectrum: Moderate Partisan Bill (Democrat 5-1)

Status: (Passed) 2013-06-24 - Act No. 68 [S0481 Detail]

Download: South_Carolina-2013-S0481-Amended.html

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AMENDED

June 5, 2013

S. 481

Introduced by Senators Malloy, McGill, Leatherman, Setzler, Johnson and Ford

S. Printed 6/5/13--H.

Read the first time April 30, 2013.

            

A BILL

TO AMEND SECTION 12-21-2425, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ADMISSIONS LICENSE TAX EXEMPTION FOR A MOTORSPORTS ENTERTAINMENT COMPLEX, SO AS TO REQUIRE THE COMPLEX TO BE A NASCAR SANCTIONED SPEEDWAY THAT HOSTS AT LEAST ONE RACE EACH YEAR FEATURING THE PREEMINENT NASCAR CUP SERIES, INSTEAD OF REQUIRING THE SPEEDWAY TO HAVE AT LEAST SIXTY THOUSAND SEATS FOR RACE PATRONS.

Amend Title To Conform

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

SECTION    1.    Section 12-21-2425(B)(1) of the 1976 Code is amended to read:

"(1)    has at least sixty thousand fixed seats for race patrons is a NASCAR sanctioned motor speedway or racetrack that hosted at least one NASCAR Sprint Cup Series race in 2012, and continues to host at least one NASCAR Sprint Cup Series race, or any successor race featuring the same NASCAR Cup series;"

SECTION    2.    This act takes effect for tax years beginning after 2012.