SC H4800 | 2009-2010 | 118th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 13 2010 - 25% progression, died in committee
Action: 2010-04-13 - Referred to Committee on Ways and Means HJ-18
Pending: House Ways and Means Committee
Status: Introduced on April 13 2010 - 25% progression, died in committee
Action: 2010-04-13 - Referred to Committee on Ways and Means HJ-18
Pending: House Ways and Means Committee
Summary
A JOINT RESOLUTION TO ALLOW THE HOLDER OF A RETAIL SALES LICENSE A STATE SALES TAX CREDIT FOR A PORTION OF CONSTRUCTION COSTS PAID IN 2010 AND 2011 TO ACQUIRE A NEW RETAIL LOCATION OR TO ENLARGE OR RENOVATE AN EXISTING RETAIL LOCATION PLACED IN SERVICE OR OTHERWISE COMPLETED IN 2010 OR 2011, TO PROVIDE THAT THE CREDIT EQUALS TWENTY PERCENT OF CONSTRUCTION COSTS PAID IN 2010 AND 2011 AGGREGATING AT LEAST ONE HUNDRED THOUSAND DOLLARS IN THOSE YEARS, TO PROVIDE FOR THOSE STATE SALES TAXES AGAINST WHICH THE CREDIT APPLIES AND ALLOW THE CARRYFORWARD OF UNUSED CREDIT FOR TEN YEARS, AND TO ALLOW THE HOLDER OF A RETAIL SALES LICENSE AND AN UNRELATED DEVELOPER FROM WHICH THE RETAIL SALES LICENSE HOLDER PURCHASES OR LEASES A NEWLY CONSTRUCTED AND PREVIOUSLY UNOCCUPIED LOCATION BY WRITTEN AGREEMENT TO IMPUTE THE DEVELOPER'S CONSTRUCTION COSTS PAID IN 2010 AND 2011 TO THE RETAIL LICENSE HOLDER FOR PURPOSES OF CLAIMING THE CREDIT.
Title
Allow The Holder Of A Retail Sales License A State Sales Tax Credit For A Portion Of Construction Costs Paid In 2010 And 2011 To Acquire A New Retail Location Or To Enlarge Or Renovate An Existing Retail Location Placed In Service Or Otherwise Completed In 2010 Or 2011, To Provide That The Credit Equals Twenty Percent Of Construction Costs Paid In 2010 And 2011 Aggregating At Least One Hundred Thousand Dollars In Those Years, To Provide For Those State Sales Taxes Against Which The Credit Applies And Allow The Carryforward Of Unused Credit For Ten Years, And To Allow The Holder Of A Retail Sales License And An Unrelated Developer From Which The Retail Sales License Holder Purchases Or Leases A Newly Constructed And Previously Unoccupied Location By Written Agreement To Impute The Developer's Construction Costs Paid In 2010 And 2011 To The Retail License Holder For Purposes Of Claiming The Credit.
Sponsors
Sen. Rex Rice [R] |
History
Date | Chamber | Action |
---|---|---|
2010-04-13 | Referred to Committee on Ways and Means HJ-18 | |
2010-04-13 | Introduced and read first time HJ-17 |
South Carolina State Sources
Type | Source |
---|---|
Summary | https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=4800&session=118 |