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TO AMEND ARTICLE 5, CHAPTER 37, TITLE 12 OF THE 1976 CODE, RELATING TO THE LIABILITY FOR TAXES AND RETURNS, BY ADDING SECTION 12-37-716, TO PROVIDE FOR A PROPERTY TAX CREDIT OR REFUND TO THE TRANSFEROR OF A BOAT OR BOAT MOTOR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 5, Chapter 37, Title 12 of the 1976 Code is amended by adding:
"Section 12-37-716. When the title to a registered boat or boat motor is transferred, or the owner of a boat or boat motor becomes a legal resident of another state and registers the boat or boat motor in his new state of residence, a request for a status change must be made in writing to the county auditor upon a form approved by the Department of Natural Resources. The county auditor, upon receipt of the form and the request for a status change, shall order, and the county treasurer shall issue, a credit or refund of property taxes paid by the transferor on the boat or boat motor. The amount of the refund or credit is that proportion of the tax paid that is equal to the proportion of the complete months remaining in that tax year. The county auditor, within ten business days thereafter, shall deliver the request for the status change to the Department of Natural Resources by mail, fax, or electronic means. Upon receipt, the Department of Natural Resources shall cancel the registration certificate in the prior owner's name and may not reissue the same."
SECTION 2. This act takes effect upon approval by the Governor.
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