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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
AS PASSED BY THE SENATE
June 2, 2004
H. 4440
S. Printed 6/2/04--S.
Read the first time April 29, 2004.
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, AND TO PROVIDE A CAP ON THE MAXIMUM AD VALOREM TAXATION WHICH MAY BE LEVIED ON SUCH A BOAT FOR ANY YEAR.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-43-360 of the 1976 Code, as added by Act 30 of 2003, is amended to read:
"Section 12-43-360. (A) The governing body of a county by ordinance may reduce the assessment ratio otherwise applicable in determining the assessed value of general aviation aircraft subject to property tax in the county to a ratio not less than four percent of the fair market value of the general aviation aircraft. The ordinance must apply uniformly to all general aviation aircraft subject to property tax in the county.
(B) The governing body of a county by ordinance may reduce the assessment ratio otherwise applicable in determining the assessed value of boats subject to property tax in the county to a ratio not less than four percent of the fair market value of the boat. The ordinance must apply uniformly to all boats subject to "property tax in the county."
SECTION 2. Article 5, Chapter 37, Title 12 of the 1976 Code, is amended by adding:
"Section 12-37-712. In addition to any other provisions of law subjecting boats and boat motors to property tax in this State:
(1) A boat, including its motor if the motor is separately taxed, used in interstate commerce having a tax situs in this State and at least one other state is subject to property tax in this State. The value of such a boat must be determined based on the fair market value of the boat multiplied by a fraction representing the number of days present in this State. The fraction is determined by dividing the number of days the boat was present in this State by three hundred and sixty-five days. A boat used in interstate commerce must be physically present in this State on thirty days in the aggregate in a property tax year to become subject to ad valorem taxation.
(2) A boat, including its motor if the motor is separately taxed, which is not present in this State on December thirty-first and is not used exclusively in interstate commerce, is subject to property tax in this State if it is present within this State for sixty consecutive days or on ninety days in the aggregate in a property tax year. Upon written request by a tax official, the owner must provide documentation or logs relating to the whereabouts of the boat in question. Failure to produce requested documents creates a rebuttable presumption that the boat in question is taxable within this State."
SECTION 3. Article 1, Chapter 37, Title 12 of the 1976 Code is amended by adding:
"Section 12-37-130. A county governing body may require a business registration throughout the unincorporated county area and may impose an administrative fee not to exceed fifteen dollars. The fee is an administrative fee and is not based upon business income. The business registration authorized by this section must be administered and enforced in the same manner as the business license tax described in Section 4-9-30(12), but must not be converted into a business license tax as described in that provision. The business registration administrative fee may be billed on any property tax bill and is deemed to be property tax for the purposes of collection if so billed. This registration, if adopted, is in lieu of any business license which is authorized pursuant to Section 4-9-30(12)."
SECTION 4. Section 12-36-90(1)(c)(iii) of the 1976 Code is amended to read:
"(iii) tangible personal property replacing defective parts under written warranty contracts if:
(A) the warranty, maintenance, service, or similar contract is given without charge at the time of original purchase of the defective property or the tax was paid on the sale or renewal of warranty, maintenance, service, or similar contracts for tangible personal property of which the defective part was a component, whether or not such contracts were purchased in conjunction with the sale of tangible personal property,
(B) in the case of a warranty, maintenance, service, or similar contract that is given without charge at the time of original purchase of the defective property, the tax was paid on the sale of the defective part or on the sale of the property of which the defective part was a component, and
(C) the warrantee is not charged for any labor or materials, except as specifically stated in the warranty, maintenance, or service contract;"
SECTION 6. Section 12-36-910(B) of the 1976 Code is amended by adding:
"(6) gross proceeds accruing or proceeding from the sale or renewal of warranty, maintenance, service or similar contracts for tangible personal property, whether or not such contracts are purchased in conjunction with the sale of tangible personal property. This subsection does not apply to the sale or renewal of a warranty, maintenance, service or similar contract sold in conjunction with residential property and covering all or a part of such property or a contract covering multiple appliances or systems located in an existing residential structure."
SECTION 7. Section 12-36-1310(B) of the 1976 Code is amended by adding:
"(5) gross proceeds accruing or proceeding from the sale or renewal of warranty, maintenance, service or similar contracts for tangible personal property, whether or not such contracts are purchased in conjunction with the sale of tangible personal property. This item does not apply to the sale or renewal of a warranty, maintenance, service or similar contract sold in conjunction with residential property and covering all or a part of such property or a contract covering multiple appliances or systems located in an existing residential structure."
SECTION 8. The ultimate undesignated paragraph of Section 12-6-3360(M)(3) of the 1976 Code, as last amended by Act 168 of 2004, is further amended to read:
Notwithstanding any other another provision of law, 'new job' includes jobs created by a taxpayer when the taxpayer hires more than five hundred full-time individuals:
(a) at a manufacturing facility located in a county classified as least developed distressed;
(b) immediately before their employment by the taxpayer, the individuals were employed by a company operating, as of the effective date of this paragraph, under Chapter 11 of the United States Bankruptcy Code; and
(c) the taxpayer, as an unrelated entity, acquires as of July 10, 2002, March 12, 2004, substantially all of the assets of the company operating under Chapter 11 of the United States Bankruptcy Code.
SECTION 9. This act takes effect upon approval by the Governor.
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