The bill S. 462 proposes an amendment to the South Carolina Code of Laws, specifically Section 12-36-2120, which pertains to sales tax exemptions. The amendment introduces a new exemption for capital equipment purchased by school districts, counties, or municipalities specifically for use on capital projects. The definition of "capital equipment" is clarified to include nonexpendable, tangible personal property, as well as communication software when purchased with a computer, provided that the equipment has a useful life of more than one year and an acquisition cost of fifty thousand dollars or more for each unit.

This legislation aims to alleviate the financial burden on local government entities by exempting significant purchases related to capital projects from sales tax, thereby promoting investment in infrastructure and educational resources. The act is set to take effect on July 1, 2025.

Statutes affected:
03/18/2025: 12-36-2120
Latest Version: 12-36-2120