H 4530 General Bill, By J.L.M. Cromer, G. Brown, J. Brown, A.W. Byrd, B.D. Cain, 
Clyburn, Cobb-Hunter, Davenport, Easterday, R.C. Fulmer, Gamble, H.M. Hallman, 
R.J. Herdklotz, J. Hines, J.H. Hodges, Howard, Inabinett, M.F. Jaskwhich, 
W.D. Keyserling, Knotts, Koon, Lanford, Lee, Limehouse, Littlejohn, Lloyd, 
Loftis, J.G. McAbee, McKay, J.H. Neal, Neilson, Rhoad, Richardson, Riser, 
Robinson, Sandifer, R. Smith, E.C. Stoddard, J.W. Tucker, D.C. Waldrop, 
J.M. White and D.A. Wright
 A Bill to amend Section 12-37-220, as amended, Code of Laws of South Carolina,
 1976, relating to property tax exemptions, so as to exempt from tax one
 hundred percent of the fair market value of all private passenger motor
 vehicles and trucks with an empty weight of not more than five thousand pounds
 when registered to an individual for personal use.

   02/01/96  House  Introduced and read first time HJ-8
   02/01/96  House  Referred to Committee on Ways and Means HJ-8

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT FROM TAX ONE HUNDRED PERCENT OF THE FAIR MARKET VALUE OF ALL PRIVATE PASSENGER MOTOR VEHICLES AND TRUCKS WITH AN EMPTY WEIGHT OF NOT MORE THAN FIVE THOUSAND POUNDS WHEN REGISTERED TO AN INDIVIDUAL FOR PERSONAL USE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-37-220(B) of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( )(a) Subject to the requirements of subitem (b), one hundred percent of the fair market value of:

(i) a motor vehicle which may be registered upon payment of the fees provided in Section 56-3-620; and

(ii) a truck with an empty weight of not more than five thousand pounds.

(b) Only a vehicle registered to an individual for personal use is eligible for the exemption allowed by this item. The provisions of Article 21 of this title, including the minimum assessment provisions of Section 12-37-2640, do not apply with respect to motor vehicles and trucks exempt pursuant to this item.

(c) Revenues not collected because of this exemption must be reimbursed to jurisdictions imposing property taxes in the manner provided in Section 12-37-270, mutatis mutandis."

SECTION 2. Upon approval by the Governor, this act applies for motor vehicle tax years beginning after June 30, 1996.