H 4570 General Bill, By Easterday, Bauer, Fleming, Hamilton, Inabinett, Koon, 
Leach, Lloyd, Mason, McGee, McKay, J.D. McMaster, Moody-Lawrence, Rice, Rodgers, 
Simrill, R. Smith, Stille, Vaughn and W.J. Young

Similar(H 3727)
 A BILL TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF
 THE SALES AND USE TAX, SO AS TO PROVIDE FOR AN EXEMPTION FOR CONSUMER
 AUTOMOBILE LEASES WHEN THE AUTOMOBILE IS PURCHASED UNDER CERTAIN
 CIRCUMSTANCES.

   02/04/98  House  Introduced and read first time HJ-8
   02/04/98  House  Referred to Committee on Ways and Means HJ-8
   04/23/98  House  Committee report: Favorable with amendment Ways
                     and Means HJ-46
   04/29/98  House  Amended HJ-27
   04/29/98  House  Debate adjourned HJ-27
   04/29/98  House  Debate adjourned HJ-38
   04/29/98  House  Read second time HJ-48
   04/30/98  House  Read third time and sent to Senate HJ-10
   05/05/98  Senate Introduced and read first time SJ-10
   05/05/98  Senate Referred to Committee on Finance SJ-10

April 29, 1998

H. 4570

Introduced by Reps. Easterday, Simrill, Leach, Inabinett, Mason, McKay, Rodgers, Hamilton, R. Smith, Lloyd, Vaughn, Stille, Young, McGee, Koon, Moody-Lawrence, McMaster, Rice, Fleming and Bauer

S. Printed 4/29/98--H.

Read the first time February 4, 1998.

A BILL

TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE SALES AND USE TAX, SO AS TO PROVIDE FOR AN EXEMPTION FOR CONSUMER AUTOMOBILE LEASES WHEN THE AUTOMOBILE IS PURCHASED UNDER CERTAIN CIRCUMSTANCES.

Amend Title To Conform

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

SECTION 1. Section 12-36-90(2) of the 1976 Code, as last amended by Act 431 of 1996, is further amended by adding:

"(h) the purchase price paid by the lessee during or at the end of the term of a consumer automobile lease pursuant to the provisions of the lease to the extent that the sales tax has already been paid on the lease pursuant to this chapter. When the lessee purchases the automobile during or at the end of the term of the lease, any sales tax remaining to be paid by the lessee on the purchase price is due and payable at that time."

SECTION 2. This act takes effect upon signature of Governor.