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Current Status Bill Number:View additional legislative information at the LPITS web site.26 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:20010110 Primary Sponsor:Elliott All Sponsors:Elliott, Ford, Branton Drafted Document Number:l:\council\bills\bbm\9761htc01.doc Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Property tax assessments, classifications; boat as residence for purposes of; Taxation, Watercraft History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20010110 Introduced, read first time, 06 SF referred to Committee Versions of This Bill
TO AMEND SECTION 12-37-224, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CLASSIFICATION OF A MOTOR HOME AS REAL PROPERTY FOR PURPOSES OF AD VALOREM TAXES AND THE REQUIREMENTS NECESSARY FOR THAT CLASSIFICATION, SO AS TO INCLUDE BOATS WITHIN THE CLASSIFICATION IF THEY MEET THE SAME REQUIREMENTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-224 of the 1976 Code 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."
SECTION 2. The amendment to Section 12-37-224 of the 1976 Code contained in this act is effective for property tax years beginning after 2000.
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