South Carolina § 12-10-45 Designation of census tract by tire manufacturer as enterprise zone; certification of tire manufacturer.

South Carolina Statutes

§ 12-10-45 — Designation of census tract by tire manufacturer as enterprise zone; certification of tire manufacturer.

South Carolina § 12-10-45

Title 12TAXATION

Ch. 10ENTERPRISE ZONE ACT OF 1995

This text of South Carolina § 12-10-45 (Designation of census tract by tire manufacturer as enterprise zone; certification of tire manufacturer.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-10-45 (2026).

Text

A tire manufacturer that has over one billion dollars in capital investment in this State and employs over five thousand workers in this State may, after certification by the council, designate up to two census tracts, but not to exceed four hundred acres per site, in any area of the State as an enterprise zone provided that a capital investment of at least one hundred million dollars be made over a five-year period at each site. The tire manufacturer's capital investment must be based upon the gross cost of assets in South Carolina as shown on the manufacturer's property tax and fee-in-lieu of property tax filings. The council will certify the manufacturer if it determines that the available incentives are appropriate for the new project, the total benefits of the new project exceed the c

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A tire manufacturer that has over one billion dollars in capital investment in this State and employs over five thousand workers in this State may, after certification by the council, designate up to two census tracts, but not to exceed four hundred acres per site, in any area of the State as an enterprise zone provided that a capital investment of at least one hundred million dollars be made over a five-year period at each site. The tire manufacturer's capital investment must be based upon the gross cost of assets in South Carolina as shown on the manufacturer's property tax and fee-in-lieu of property tax filings. The council will certify the manufacturer if it determines that the available incentives are appropriate for the new project, the total benefits of the new project exceed the costs to the public, and the qualifying business otherwise fulfills the requirements of this chapter.

Legislative History

HISTORY: 1996 Act No. 231, SECTION 6; 2024 Act No. 222 (H.4087), SECTION 3, eff July 2, 2024. Editor's Note 2024 Act No. 222, SECTION 6, provides as follows: "SECTION 6. This act takes effect upon approval by the Governor and first applies to income tax years beginning after 2023, except that SECTION 3 first applies to income tax years beginning after 2020." Effect of Amendment 2024 Act No. 222, SECTION 3, made a nonsubstantive change.