S 776 Session 116 (2005-2006)
S 0776 General Bill, By Verdin
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 ALLOW A PROPERTY TAX
EXEMPTION FOR A MOTOR VEHICLE LICENSED AND REGISTERED BY THE SOUTH CAROLINA
DEPARTMENT OF MOTOR VEHICLES AS AN ANTIQUE MOTOR VEHICLE.
04/20/05 Senate Introduced and read first time SJ-4
04/20/05 Senate Referred to Committee on Finance SJ-4
02/01/06 Senate Committee report: Favorable with amendment
Finance SJ-40
02/02/06 Senate Amended SJ-9
02/02/06 Senate Read second time SJ-9
02/07/06 Senate Read third time and sent to House SJ-20
02/08/06 House Introduced and read first time HJ-10
02/08/06 House Referred to Committee on Ways and Means HJ-10
05/04/06 House Recalled from Committee on Ways and Means HJ-111
05/10/06 House Debate adjourned until Thursday, May 11, 2006 HJ-105
05/11/06 House Debate adjourned until Tuesday, May 16, 2006 HJ-17
05/16/06 House Amended HJ-8
05/16/06 House Requests for debate-Rep(s). Scott, J Brown,
Thompson, Rivers, Weeks, Moody-Lawrence, Kirsh,
Mack, Duncan, Vaughn, Jefferson, Emory, Hosey,
Rice, Taylor, Merrill, and Umphlett HJ-11
05/16/06 House Requests for debate removed-Rep(s). Duncan and
Taylor HJ-27
05/17/06 House Motion noted- Rep. Scott notes a motion to
reconsider the vote whereby amendment no. 1 was
adopted HJ-121
05/17/06 House Motion noted- Rep. Scott notes a motion to
reconsider the vote whereby amendment no. 2 was
adopted HJ-121
05/24/06 House Debate adjourned until Thursday, May 25, 2006 HJ-124
05/25/06 House Debate adjourned HJ-49
05/30/06 House Recommitted to Committee on Ways and Means HJ-53
S. 776
Indicates Matter Stricken
Indicates New Matter
AMENDED--NOT PRINTED IN THE HOUSE
Amt. No. 1 (Doc. Path council\nbd\12533ac06)
Amt. No. 2 (Doc. Path council\nbd\12541ac06)
May 16, 2006
S. 776
Introduced by Senator Verdin
S. Printed 5/4/06--H.
Read the first time February 8, 2006.
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 ALLOW A PROPERTY TAX EXEMPTION FOR A MOTOR VEHICLE LICENSED AND REGISTERED BY THE SOUTH CAROLINA DEPARTMENT OF MOTOR VEHICLES AS AN ANTIQUE MOTOR VEHICLE.
Amend Title To Conform
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 motor vehicle licensed and registered as an antique motor vehicle pursuant to Article 23, Chapter 3 of Title 56."
SECTION 2. A. Section 12-37-224 of the 1976 Code, as added by Act 114 of 1999, is amended to read:
"Section 12-37-224. A motor home or boat 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."
B. Section 12-37-220(B)(38) of the 1976 Code is amended to read:
"(38)(a) Watercraft and motors which that have an assessment of not more than fifty dollars.
(b) an amount of the fair market value of any watercraft, including those assessed pursuant to Section 12-37-224, sufficient to limit to one thousand five hundred dollars the total property tax on the watercraft for a property-tax year."
C. (1) Section 12-37-224 of the 1976 Code is amended to read:
"Section 12-37-224. A motor home, or trailer used for camping and recreational travel that is pulled by a motor vehicle, 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."
(2) SECTION C.(1) takes effect upon approval by the Governor and is applicable for travel trailer property tax years beginning after 2006.
D. This section takes effect upon approval by the Governor and applies for property tax years beginning after 2005.
SECTION 3. A. Section 12-37-224 of the 1976 Code is amended to read:
"Section 12-37-224. A motor home, or trailer used for camping and recreational travel that is pulled by a motor vehicle, 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."
B. This section takes effect upon approval by the Governor and is applicable for travel trailer property tax years beginning after 2005.
SECTION 4. This act takes effect upon approval by the Governor and applies for antique motor vehicle property tax years beginning after June 30, 2006.
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