Bill 3671

                    Current Status

Bill Number:                       3671
Type of Legislation:               General Bill GB
Introducing Body:                  House
Introduced Date:                   19950223
Primary Sponsor:                   Askins 
All Sponsors:                      Askins 
Drafted Document Number:           JIC\5451HTC.95
Residing Body:                     Senate
Current Committee:                 Finance Committee 06 SF
Subject:                           Boats and motors, tax for sale
                                   to nonresidents

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

Senate  19960409  Introduced, read first time,             06 SF
                  referred to Committee
House   19960404  Read third time, sent to Senate
House   19960403  Unanimous consent for third
                  reading on the next Legislative day
House   19960403  Read second time
House   19960328  Committee report: Favorable              30 HWM
House   19950223  Introduced, read first time,             30 HWM
                  referred to Committee

Indicates Matter Stricken
Indicates New Matter

COMMITTEE REPORT

March 28, 1996

H. 3671

S. Printed 3/28/96--H.

Read the first time February 23, 1995.

To whom was referred a Bill (H. 3671), to amend Section 12-36-930, as amended, Code of Laws of South Carolina, 1976, relating to the sales tax, etc., respectfully

That they have duly and carefully considered the same, and recommend that the same do pass:

HENRY E. BROWN, JR., for Committee.

This bill would reduce state sales and use tax by $300,000 per year. Of this total, $240,000 would be a reduction in the state general fund, and $60,000 would be a reduction in EIA Funds.

This estimate assumes that South Carolina would lose the tax revenue on approximately 7.5% of the $80,000,000 of taxable boat and motor sales annually.

Approved By:

Burnet R. Maybank, III

S.C. Department of Revenue

A BILL

TO AMEND SECTION 12-36-930, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SALES TAX DUE ON THE SALE OF A MOTOR VEHICLE TO A RESIDENT OF ANOTHER STATE FOR LICENSING IN THE OTHER STATE, SO AS TO EXTEND THIS CALCULATION OF THE TAX DUE TO BOATS AND MOTORS SOLD TO A RESIDENT OF ANOTHER STATE FOR LICENSING IN THE OTHER STATE.

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

SECTION 1. Section 12-36-930 of the 1976 Code, as last amended by Act 361 of 1992, is further amended to read:

"Section 12-36-930. (A) The tax imposed by this article on sales of motor vehicles, as defined in Section 56-1-10, trailers, semitrailers, or pole trailers and boats and motors of a type to be registered and licensed, to a resident of another state, is the lesser of:

(1) an amount equal to the sales tax, which would be imposed in the purchasers purchaser's state of residence, or

(2) the tax that would be imposed under this chapter.

(B) At the time of the sale, the seller shall:

(1) obtain from the purchaser a notarized statement of the purchasers purchaser's intent to license the vehicle, boat, or motor within ten days, in the purchasers purchaser's state of residence; and

(2) retain a signed copy of the notarized statement. The purchaser shall give a copy to the sales tax agency of the purchasers purchaser's state of residence.

(C) No tax is due if a nonresident will not receive credit in his state of residence for sales tax paid to this State under this section."

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