South Carolina § 4-12-10 - Definitions.
Full text of South Carolina South Carolina Code of Laws § 4-12-10 — Definitions., with citation guidance and answers to common questions.
§ 4-12-10. Definitions.
As used in this chapter:
(1) "Department" means the South Carolina Department of Revenue.
(2) "Project" means land, buildings, and other improvements on the land including water, sewage treatment and disposal facilities, air pollution control facilities, and all other machinery, apparatus, equipment, office facilities, and furnishings which are considered necessary, suitable, or useful by a sponsor. "Project" also may consist of or include aircraft hangered or utilizing an airport in a county so long as the county expressly consents to its inclusion. Aircraft previously subject to taxation in South Carolina qualify pursuant to this provision.
(3) "Sponsor" means one or more entities which sign the inducement agreement with the county and also includes a sponsor affiliate unless the context clearly indicates otherwise.
(4) "Sponsor affiliate" means an entity that joins with or is an affiliate of a sponsor and that participates in the investment in, or financing of, a project.
(5) "Lease agreement" means an agreement between the county and the sponsor leasing the property at the project from the county to the sponsor.
HISTORY: 1995 Act No. 125, SECTION 4A, approved June 7, 1995 and effective for taxable years beginning after 1995; 2000 Act No. 283, SECTION 3(B), eff May 19, 2000; 2003 Act No. 69, SECTION 3.YY.1, eff Jan. 1, 2003; 2008 Act No. 313, SECTION 2.I.5, eff upon approval (became law without the Governor's signature on June 12, 2008).
Effect of Amendment
The 2000 amendment added items (3), (4) and (5).
The 2003 amendment, in item (2), deleted ", without limiting the generality of the forgoing" after "the land including" and made nonsubstantive changes, in item (3) added "fee inducement" preceding "agreement", and in item (5) substituted the definition of "lease agreement" for the definition of "Title to the property".
The 2008 amendment added the second and third sentences in item (2) relating to aircraft.
Frequently Asked Questions About South Carolina § 4-12-10
What does South Carolina Code of Laws § 4-12-10 cover?
Section 4-12-10 ("Definitions.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 4-12-10?
A common citation format is "South Carolina Code of Laws § 4-12-10" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 4-12-10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.