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 3                        SECTION 52
 4
 5     TO AMEND SECTION 12-37-935 OF THE 1976 CODE, RELATING TO MANUFACTURER'S DEPRECIATION FOR
 6     PURPOSES OF AD VALOREM TAX ON PERSONAL PROPERTY, SO AS TO REVISE THE MAXIMUM DEPRECIATION
 7     PERCENTAGE ALLOWED IN PROPERTY TAX YEAR 1998.
 8
 9           Section 12-37-935(A) of the 1976 Code, as added by Act 458 of 1996, is amended to read:
10
11           "(A)      Except as provided in Section 12-37-930 for custom molds and dies used in the conduct of manufacturing electronic
12     interconnection component assembly devices for computers and computer peripherals, and equipment used in the manufacture of tires by
13     manufacturers who employ more than five thousand employees in this State and have over one billion dollars in capital investment in this
14     State, the original cost must not be reduced more than the percentage provided in the following schedule:
15
16                  Property Tax Year          Maximum Percentage Depreciation
17                  Before 1997                                  80 percent
18                  1997                                              83.3 percent
19                  1998                                              86.6 84.95 percent
20                  After 1998                                     90 percent."
21