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H. 5036
STATUS INFORMATION
General Bill
Sponsors: Rep. Edge
Document Path: l:\council\bills\bbm\10118sd04.doc
Companion/Similar bill(s): 46, 4440
Introduced in the House on March 25, 2004
Currently residing in the House Committee on Ways and Means
Summary: Property taxes; boats considered real property if certain requirements are met
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/25/2004 House Introduced and read first time HJ-24 3/25/2004 House Referred to Committee on Ways and Means HJ-25
View the latest legislative information at the LPITS web site
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 2004.
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