S 0949 General Bill, By Elliott, Reese and Leventis
 A BILL TO AMEND SECTION 12-37-2725, AS AMENDED, CODE OF LAWS OF SOUTH
 CAROLINA, 1976, RELATING TO THE CANCELLATION OF LICENSE PLATE AND REGISTRATION
 CERTIFICATE FOR A REFUND OR CREDIT, SO AS TO PROVIDE THAT THE LESSEE OF A
 MOTOR VEHICLE WHO TRADES OR RETURNS A MOTOR VEHICLE TO THE LESSOR IS ELIGIBLE
 FOR A CREDIT OR REFUND ON PROPERTY TAXES PAID.

   12/07/99  Senate Prefiled
   12/07/99  Senate Referred to Committee on Finance
   01/11/00  Senate Introduced and read first time SJ-36
   01/11/00  Senate Referred to Committee on Finance SJ-36

TO AMEND SECTION 12-37-2725, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE CANCELLATION OF LICENSE PLATE AND REGISTRATION CERTIFICATE FOR A REFUND OR CREDIT, SO AS TO PROVIDE THAT THE LESSEE OF A MOTOR VEHICLE WHO TRADES OR RETURNS A MOTOR VEHICLE TO THE LESSOR IS ELIGIBLE FOR A CREDIT OR REFUND ON PROPERTY TAXES PAID.

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 becomes a legal resident of another state and registers the vehicle in the new state of residence, or the lessee of a licensed vehicle trades the vehicle or returns the vehicle to the lessor, the license plate and registration certificate 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 Public Safety. The auditor, upon receipt of the license plate, registration certificate, and the request for cancellation, shall order and the treasurer shall issue a credit or refund of property taxes paid by the transferor on the vehicle. The amount of the refund or credit is that proportion of the tax paid that is equal to that proportion of the complete months remaining in that tax year. The auditor, within five days thereafter, shall deliver the license plate, registration certificate, and the written request for cancellation to the Department of Public Safety. Upon receipt, the Department of Public Safety shall cancel the license plate and registration certificate and may not reissue the same."

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