S 1457 General Bill, By M.F. Mullinax
 A Bill to amend Section 12-37-2725 of the Code of Laws of South Carolina,
 1976, relating to assessment of property taxes, so as to provide that when the
 title to a licensed vehicle is transferred, or the owner of the vehicle
 obtains legal residence in another state and registers the vehicle in the new
 state of residence, the license plate and registration certificate issued to
 the transferor or person who obtains out-of-state residency may be returned
 for cancellation.

   04/08/92  Senate Introduced and read first time SJ-21
   04/08/92  Senate Referred to Committee on Finance SJ-21

A BILL

TO AMEND SECTION 12-37-2725 OF THE CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ASSESSMENT OF PROPERTY TAXES, SO AS TO PROVIDE THAT WHEN THE TITLE TO A LICENSED VEHICLE IS TRANSFERRED, OR THE OWNER OF THE VEHICLE OBTAINS LEGAL RESIDENCE IN ANOTHER STATE AND REGISTERS THE VEHICLE IN THE NEW STATE OF RESIDENCE, THE LICENSE PLATE AND REGISTRATION CERTIFICATE ISSUED TO THE TRANSFEROR OR PERSON WHO OBTAINS OUT-OF-STATE RESIDENCY MAY BE RETURNED FOR CANCELLATION.

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

SECTION 1. Section 12-37-2725 of the 1976 Code is amended to read:

"Section 12-37-2725. When the title to a licensed vehicle is transferred, or the owner of the vehicle obtains legal residence in another state and registers the vehicle in the new state of residence, the license plate and registration certificate issued the transferor or person who obtains out-of-state residency may be returned for cancellation. The license plate and registration certificate must be delivered to the auditor of the county of the vehicle's registration and tax payment. A request for cancellation must be made in writing to the auditor upon forms approved by the Department of Highways and Public Transportation. The auditor, upon receipt of the license plate, registration certificate, and the request for cancellation, shall order and the treasurer shall issue a refund of property taxes paid by the transferor on the vehicle. The amount of the refund is that proportion of the tax paid that is equal to that proportion of the complete months remaining on the license plate and registration certificate that is being canceled to its whole license and registration period. The auditor shall, within five days thereafter, deliver the license plate, registration certificate, and the written request for cancellation to the Department of Highways and Public Transportation. Upon receipt thereof, the Department department shall cancel the license plate and registration certificate and may not reissue the same."

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