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Current Status Bill Number:View additional legislative information at the LPITS web site.4297 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20000111 Primary Sponsor:R. Smith All Sponsors:R. Smith, Bales, Riser, W. McLeod Drafted Document Number:l:\council\bills\nbd\11535mm00.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Motor home, residence requirements for purposes of property tax exemptions; Recreational trailer, Mobile Homes History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20000210 Co-Sponsor added (Rule 5.2) by Rep. W. McLeod House 20000113 Co-Sponsor added (Rule 5.2) by Rep. Riser House 20000111 Introduced, read first time, 30 HWM referred to Committee House 19991110 Prefiled, referred to Committee 30 HWM Versions of This Bill
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-226 SO AS TO PROVIDE THAT A RECREATIONAL TRAILER ON WHICH THE INTEREST PORTION OF INDEBTEDNESS IS DEDUCTIBLE PURSUANT TO THE INTERNAL REVENUE CODE AS AN INTEREST EXPENSE ON A QUALIFIED PRIMARY OR SECOND RESIDENCE IS ALSO A PRIMARY OR SECOND RESIDENCE FOR PURPOSES OF AD VALOREM PROPERTY TAXATION IN THIS STATE AND IS CONSIDERED REAL PROPERTY RATHER THAN PERSONAL PROPERTY FOR PROPERTY TAX PURPOSES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 12-37-226. A recreational trailer on which the interest portion of indebtedness is deductible pursuant to the Internal Revenue Code as an interest expense on a qualified primary or second residence is also a primary or second residence for purposes of ad valorem property taxation in this State and is considered real property rather than personal property for property tax purposes."
SECTION 2. Upon approval by the Governor this act is effective for property tax years beginning after 1999.
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