South Carolina General Assembly
115th Session, 2003-2004

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Bill 274

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COMMITTEE REPORT

March 12, 2003

S. 274

Introduced by Senator Leventis

S. Printed 3/12/03--S.    [SEC 3/13/03 1:20 PM]

Read the first time January 29, 2003.

            

THE COMMITTEE ON FINANCE

To whom was referred a Bill (S. 274) to amend Section 12-37-220, as amended, Code of Laws of South Carolina, 1976, relating to property tax exemptions, so as to exempt a private passenger, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass with amendment:

Amend the bill, as and if amended, by adding a new penultimate section appropriately numbered to read:

/ SECTION    ____.    Notwithstanding any other provision of law, the amendment to Section 12-37-220(B)(11) of the 1976 Code, made pursuant to Section 7I, Act 334 of 2002, is effective for property tax years beginning after 2001. /

Renumber sections to conform.

Amend title to conform.

HUGH K. LEATHERMAN, SR. for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

ESTIMATED FISCAL IMPACT ON GENERAL FUND EXPENDITURES:

$0 (No additional expenditures or savings are expected)

ESTIMATED FISCAL IMPACT ON FEDERAL & OTHER FUND EXPENDITURES IS:

$0 (No additional expenditures or savings are expected)

EXPLANATION OF IMPACT:

Enactment of this bill would have no impact on the General Fund of the State or on federal and/or other funds.

LOCAL GOVERNMENT IMPACT:

Counties responding indicated there would be no impact or minimal impact.

SPECIAL NOTES:

The Board of Economic Advisors is the appropriate agency to address any revenue impact of this legislation.

Approved By:

Don Addy

Office of State Budget

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 A PRIVATE PASSENGER MOTOR VEHICLE LEASED TO A MEMBER OF THE ARMED FORCES OF THE UNITED STATES STATIONED IN THIS STATE WHOSE HOME OF RECORD IS IN ANOTHER STATE AND THE LEASED VEHICLE IS TO BE REGISTERED AND LICENSED IN THE STATE OF THE SERVICE MEMBER'S HOME OF RECORD AND TO EXEMPT ALL VEHICLES LEASED BY A PUBLIC BODY IF THE VEHICLE WOULD OTHERWISE BE EXEMPT IF OWNED BY THE PUBLIC BODY.

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 two appropriately numbered items at the end to read:

"( )    a private passenger motor vehicle leased by a member of the armed forces of the United States stationed in this State when that service member's home of record is in another state and the leased vehicle is to be registered and licensed in the state of the service member's home of record.

( )    a private passenger motor vehicle leased to a governmental entity that would be exempt pursuant to subsection (A)(1) of this section if the governmental entity owned the vehicle."

SECTION    2.    This act takes effect upon approval by the Governor and applies for eligible motor vehicles leased on and after that date.

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