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.
HISTORY: 1996 Act No. 231, Section 6.
Structure South Carolina Code of Laws
Chapter 10 - Enterprise Zone Act Of 1995
Section 12-10-10. Short title.
Section 12-10-20. Legislative intent.
Section 12-10-30. Definitions.
Section 12-10-40. Designation of enterprise zones; criteria.
Section 12-10-50. Qualification for benefits.
Section 12-10-60. Revitalization agreement.
Section 12-10-80. Job development credits.
Section 12-10-81. Job development tax credits.
Section 12-10-82. Irrevocable assignment of future payments.
Section 12-10-85. Purpose and use of State Rural Infrastructure Fund; grants.
Section 12-10-88. Redevelopment fees.
Section 12-10-105. Annual fees.
Section 12-10-110. Construction of chapter.
Section 12-10-120. Job development credit requirements applicable to professional sports teams.