A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO THE GENERAL EXEMPTION FROM PROPERTY TAXES, SO AS TO PROVIDE A PROPERTY TAX EXEMPTION OF FIFTY PERCENT OF THE FAIR MARKET VALUE OF WATERCRAFT.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 12-37-220(B) of the S.C. Code is amended by adding:

 

    (54) fifty percent of the fair market value of watercraft as defined in Section 50-23-5.

 

SECTION 2.  This act takes effect on January 1, 2026, and first applies to property tax years beginning after 2026.

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