H 3920 Session 111 (1995-1996)
H 3920 General Bill, By W.D. Keyserling, Whatley and L.S. Whipper
Similar(S 719)
A Bill to amend Section 12-36-2110, as amended, Code of Laws of South
Carolina, 1976, relating to the maximum sales tax on motor vehicles and other
property, so as to increase the maximum tax, impose special caps for fuel
efficient motor vehicles, and to distribute the additional revenue to counties
for property tax relief.
04/04/95 House Introduced and read first time HJ-7
04/04/95 House Referred to Committee on Ways and Means HJ-8
A BILL
TO AMEND SECTION 12-36-2110, AS AMENDED, CODE OF
LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE
MAXIMUM SALES TAX ON MOTOR VEHICLES AND OTHER
PROPERTY, SO AS TO INCREASE THE MAXIMUM TAX,
IMPOSE SPECIAL CAPS FOR FUEL EFFICIENT MOTOR
VEHICLES, AND TO DISTRIBUTE THE ADDITIONAL
REVENUE TO COUNTIES FOR PROPERTY TAX RELIEF.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-36-2110(A) of the 1976 Code, as last
amended by Section 92, Part II, Act 497 of 1994, is further
amended to read:
"(A) Notwithstanding the rates of tax imposed by this
chapter, the maximum tax rate imposed by this chapter
is three hundred dollars four percent on the first six
thousand dollars and six percent on amounts in excess of six
thousand dollars, but no more than seven hundred fifty dollars,
for each sale or lease made or executed after June
30, 1984 1995, or lease executed after August
31, 1985, of each:
(1) aircraft, including unassembled aircraft which is to be
assembled by the purchaser, but not items to be added to the
unassembled aircraft;
(2) motor vehicle;
(3) motorcycle;
(4) boat;
(5) trailer or semitrailer, pulled by a truck tractor, as defined in
Section 56-3-20, and horse trailers but not including house trailers
or campers as defined in Section 56-3-710;
(6) recreational vehicle, including tent campers, travel trailer,
park model, park trailer, motor home, and fifth wheel; or
(7) self-propelled light construction equipment with compatible
attachments limited to a maximum of one hundred sixty net engine
horsepower.
In the case of a lease, the total tax rate required by law applies
on each payment until the total tax paid equals three hundred
dollars the total tax due. Nothing in this section
prohibits a taxpayer from paying the total tax due at the time of
execution of the lease, or with any payment under the lease. To
qualify for the tax limitation provided by this section, a lease must
specifically state the term of, and remain in force for, a period in
excess of ninety continuous days.
Notwithstanding the amounts due pursuant to this subsection,
in the case of motor vehicles with a fuel efficiency rate of between
thirty-five and thirty-nine miles a gallon, the maximum tax is six
hundred dollars and in the case of motor vehicles with a fuel
efficiency rate of forty miles or more a gallon, the maximum tax is
four hundred fifty dollars. If a motor vehicle is capable of
operating primarily on natural gas, propane, electricity, or a fuel
consisting of at least seventy percent ethanol or methanol, the
maximum tax is three hundred dollars.
Revenue from items subject to the maximum tax pursuant to this
subsection in excess of such revenues for fiscal year 1994-95 must
be remitted to counties on a per capita basis and used to reduce
residential property taxes. For purposes of this subsection, `fuel
efficiency rate' means the estimated highway miles per gallon for a
vehicle as listed in the Fuel economy Guide--EPA Fuel Economy
Estimates, published by the United States Environmental Protection
Agency."
SECTION 2. This act takes effect July 1, 1995
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