summary
Introduced
01/08/2019
01/08/2019
In Committee
02/14/2019
02/14/2019
Crossed Over
02/13/2019
02/13/2019
Passed
Dead
09/24/2020
09/24/2020
Introduced Session
123rd General Assembly
Bill Summary
To Amend Section 12 6 3360, Code Of Laws Of South Carolina, 1976, Relating To The Job Tax Credit, So As To Provide For A Professional Sports Team; To Amend Section 4 9 30, Relating To The Designation Of Powers Under The Alternate Forms Of Government, So As To Prohibit The Levy Of County License Fees And Taxes On A Professional Sports Team; To Amend Section 5 7 30, Relating To Powers Of A Municipality, So As To Prohibit The Levy Of A Business License Tax On A Professional Sports Team; And By Adding Section 5 3 20 So As To Provide That The Real Property Owned By A Professional Sports Team May Not Be Annexed By A Municipality Without Prior Written Consent Of The Professional Sports Team.
AI Summary
This bill amends South Carolina's job tax credit law to provide tax credits for professional sports teams that create a minimum of 150 full-time jobs in the state with an annual payroll of at least $190 million. The bill also prohibits counties and municipalities from levying license fees or business taxes on professional sports teams, and prevents municipalities from annexing property owned by professional sports teams without the team's prior written consent. The bill requires the Department of Revenue to report on the job creation and residency status of the new positions created by professional sports teams claiming the tax credit.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Conference committee appointed Simrill, Pope, Rutherford (on 05/09/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
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