South Carolina General Assembly
109th Session, 1991-1992

Bill 107

Indicates Matter Stricken
Indicates New Matter 

                    Current Status

Introducing Body:               Senate
Bill Number:                    107
Primary Sponsor:                Land
Committee Number:               06
Type of Legislation:            GB
Subject:                        Property tax assessment, chartered
                                fishing boats
Residing Body:                  Senate
Current Committee:              Finance
Computer Document Number:       OLDVS/LIBX/2384
Introduced Date:                Jan 08, 1991
Last History Body:              Senate
Last History Date:              Jan 08, 1991
Last History Type:              Introduced and read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Land
Type of Legislation:            General Bill
History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 107   Senate  Jan 08, 1991  Introduced and read first       06
                             time, referred to Committee
 107   Senate  Sep 17, 1990  Prefiled, referred to           06
                             Committee
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION AND ASSESSMENT RATIOS OF PROPERTY FOR PURPOSES OF AD VALOREM TAXATION, SO AS TO PROVIDE THAT THE FIVE PERCENT ASSESSMENT RATIO FOR COMMERCIAL FISHING BOATS EXTENDS TO CHARTERED RECREATIONAL FISHING BOATS AND TO DEFINE "CHARTERED RECREATIONAL FISHING BOATS".

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

SECTION 1. Section 12-43-220(f) of the 1976 Code is amended to read:

"(f) Except as specifically provided by law all other personal property shall must be taxed on an assessment of ten and one-half percent of fair market value of such the property except that commercial fishing boats and chartered recreational fishing boats shall must be taxed on an assessment of five percent of fair market value. As used in this item 'commercial fishing boats' shall mean means boats licensed by the Department of Wildlife and Marine Resources pursuant to Article 3, Chapter 15 of Title 50 which are used exclusively for commercial fishing, shrimping, or crabbing. As used in this item, 'chartered recreational fishing boats' means boats offered for charter for fishing which the owner depreciates as business property for purposes of the federal income tax."

SECTION 2. This act takes effect upon approval by the Governor.

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