South Carolina Statutes
§ 12-65-50 — Transition rules.
(A)Entire textile mill sites placed in service on or before December 31, 2007, must be governed by the former provisions of Chapter 32, Title 6, in effect as of December 31, 2007.
(B)The provisions of this chapter shall apply to all textile mill sites or portions thereof placed in service on or after January 1, 2008.
(C)For any textile mill sites in which a portion but not all of the textile mill site was placed in service on or before December 31, 2007, the taxpayer may elect to either:
(1)have the portion of the textile mill site that was placed in service on or before December 31, 2007, governed by the former provisions of Chapter 32, Title 6, in effect as of December 31, 2007, as if the portion were an entire textile mill site; or (2) have the portion be governed by this chapter su
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South Carolina § 12-65-50 (Transition rules.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2010 Act No. 182, SECTION 2, eff May 28, 2010.
Nearby Sections
7
§ 12-65-10
Title of Act; purpose.§ 12-65-20
Definitions.§ 12-65-30
Tax credit entitlement.§ 12-65-35
Area of site limitation.§ 12-65-40
Applicability of other provisions.§ 12-65-50
Transition rules.§ 12-65-60
Certification of site.