Current Status Bill Number:977 Type of Legislation:Joint Resolution JR Introducing Body:Senate Introduced Date:19980203 Primary Sponsor:McConnell All Sponsors:McConnell, Wilson, Thomas, Russell and Courson Drafted Document Number:dka\4764mm.98 Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Motor vehicle property tax exemptions, gradual tax cut and eventual elimination; Taxation, constitutional amendment
Body Date Action Description Com Leg Involved
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Senate 19980203 Introduced, read first time, 06 SF
referred to Committee
View additional legislative information at the LPITS web site.
PROPOSING AN AMENDMENT TO SECTION 1(8), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO PROPERTY TAXATION AND ASSESSMENT RATIOS FOR PROPERTY, SO AS TO PROVIDE A GRADUAL TAX CUT AND EVENTUAL ELIMINATION OF TAXES FOR PERSONAL MOTOR VEHICLES, CAPPING THE TAXES AT 1997 ASSESSMENTS, LOWERING THE TAXES BY TWENTY-FIVE DOLLARS FOR TAX YEAR 1998, INCREASING THE TAX CUT TO SEVENTY-FIVE DOLLARS FOR TAX YEAR 1999, AND INCREASING THE TAX CUT AN ADDITIONAL FIFTY DOLLARS IN EACH LATER TAX YEAR AND TO ALLOW THE GENERAL ASSEMBLY TO DELAY FOR ONE YEAR ALL OR PART OF THE NEXT YEAR'S INCREASE IN THE TAX CUT AMOUNT FOR PERSONAL MOTOR VEHICLES IF A FURTHER TAX CUT IN THAT YEAR WOULD RESULT IN A GROWTH OF TOTAL REMAINING REVENUE FROM ALL SOURCES OF LESS THAN ONE HUNDRED MILLION DOLLARS, AND TO PROVIDE THAT THE STATE REPLACE LOCAL REVENUE AFFECTED BY A GRADUAL REDUCTION AND EVENTUAL ELIMINATION OF TAX ON PERSONAL MOTOR VEHICLES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:
"(8) All other personal property shall be taxed on an assessment equal to ten and one-half percent of the fair market value of such property, except that the tax on personal motor vehicles must be eliminated, beginning with a cap on taxes at 1997 assessments, followed by a tax cut of twenty-five dollars in tax year 1998, seventy-five dollars in tax year 1999, and an additional fifty dollars in each later tax year; and except that the General Assembly may delay for one year all or part of the next year's increase in the tax cut amount for personal motor vehicles if a further tax cut in that year would result in a growth of total remaining revenue from all sources of less than one hundred million dollars."
SECTION 2. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:
"Must Section 1(8), Article X of the Constitution of this State relating to property taxation and assessment ratios for property be amended so as to provide a gradual tax cut and eventual elimination of taxes for personal motor vehicles, capping the taxes at 1997 assessments, lowering the taxes by twenty-five dollars for tax year 1998, increasing the tax cut to seventy-five dollars for tax year 1999, and increasing the tax cut an additional fifty dollars in each later tax year and to allow the General Assembly to delay for one year all or part of the next year's increase in the tax cut amount for personal motor vehicles if a further tax cut in that year would result in a growth of total remaining revenue from all sources of less than one hundred million dollars?
Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."
SECTION 3. It is proposed that Section 1(8), Article X of the Constitution of this State be amended by adding at the end:
"The State shall replace local revenue affected by a gradual reduction and eventual elimination of tax on personal motor vehicles if such a reduction or elimination is provided by Constitutional amendment."
SECTION 4. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:
"Must Section 1(8), Article X of the Constitution of this State relating to property taxation and assessment ratios for property be amended so as to provide that the State replace local revenue affected by a gradual reduction and eventual elimination of tax on personal motor vehicles if such a reduction or elimination is provided by Constitutional amendment?
Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."