Download This Version in Microsoft Word format
TO AMEND SECTION 12-37-2720, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXEMPTION FROM PROPERTY TAXES OF MOTOR VEHICLES WHICH ARE PART OF THE INVENTORY HELD FOR SALE BY A LICENSED MOTOR VEHICLE DEALER AND WHICH ARE OPERATED ON THE HIGHWAYS UNDER A DEALER TAG, SO AS TO REQUIRE THAT THESE VEHICLES TO BE EXEMPT ALSO MUST BE USED EXCLUSIVELY FOR DEALER PURPOSES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) Section 12-37-2720 of the 1976 Code is amended to read:
"Section 12-37-2720. The provisions of this article shall do not apply to motor vehicles which are a part of the inventory held for sale by licensed motor vehicle dealers and, which are operated on the highways under a dealer tag and are used exclusively for dealer purposes."
(B) The provisions of Section 12-37-2720, as amended by subsection (A) of this section, apply for property tax years beginning after December 31, 2005.
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Tuesday, June 23, 2009 at 2:28 P.M.