summary
Introduced
03/18/2025
03/18/2025
In Committee
03/18/2025
03/18/2025
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Amending Section 12-36-2120, Relating To Sales Tax Exemptions, So As To Exempt Capital Equipment Purchased By School Districts, Counties, Or Municipalities For Use On Capital Projects.
AI Summary
This bill amends South Carolina's sales tax law to provide a new exemption for capital equipment purchased by school districts, counties, or municipalities for use on capital projects. Specifically, the bill defines "capital equipment" as non-expendable, tangible personal property with a useful life of more than one year and an acquisition cost of at least $50,000 per unit, including communication software purchased with a computer. The exemption means that these government entities will not have to pay sales tax when purchasing qualifying equipment for capital projects. This tax exemption is designed to help local government entities save money when making significant infrastructure or equipment investments. The bill will take effect on July 1, 2025, giving local governments and tax authorities time to prepare for the new exemption.
Committee Categories
Budget and Finance
Sponsors (15)
Michael Johnson (R)*,
Brian Adams (R),
Allen Blackmon (R),
JD Chaplin (R),
Wes Climer (R),
Billy Garrett (R),
Greg Hembree (R),
Josh Kimbrell (R),
Matthew Leber (R),
Shane Massey (R),
Everett Stubbs (R),
Danny Verdin (R),
Overture Walker (D),
Tom Young (R),
Jeffrey Zell (R),
Last Action
Referred to Committee on Finance (on 03/18/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0462&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/462_20250318.htm |
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