H 4448 General Bill, By Witherspoon and Edge
Summary: Property tax exemptions, boat as primary, secondary residence; interest expense, Taxation, Watercraft
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-225 SO AS TO PROVIDE THAT A BOAT ON WHICH THE INTEREST PORTION OF ANY INDEBTEDNESS ON IT IS OR WOULD BE DEDUCTIBLE UNDER THE INTERNAL REVENUE CODE AS AN INTEREST EXPENSE ON A QUALIFIED PRIMARY OR SECOND RESIDENCE IS ALSO DEEMED TO BE A PRIMARY OR SECOND RESIDENCE FOR PURPOSES OF AD VALOREM PROPERTY TAXATION IN THIS STATE AND AS SUCH IS CONSIDERED REAL RATHER THAN PERSONAL PROPERTY FOR THESE PURPOSES.
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01/18/00	House	Introduced and read first time HJ-14
01/18/00	House	Referred to Committee on Ways and Means HJ-14