S 455 Session 112 (1997-1998)
S 0455 General Bill, By Passailaigue
A BILL TO AMEND SECTION 12-28-530, CODE OF LAWS OF SOUTH CAROLINA, 1976,
RELATING TO COMPUTATION OF FLOORSTOCK OR INVENTORY TAX ON MOTOR FUELS, AND
SECTION 12-28-985, RELATING TO REPORTING AND PAYMENT OF FLOORSTOCK OR
INVENTORY TAX DUE ON MOTOR FUELS, SO AS TO DELETE APPLICABILITY OF TAX TO
PREVIOUSLY TAXED TAXABLE MOTOR FUEL AND TO CORRECT CODE REFERENCES; TO AMEND
SECTION 12-28-1135, AS AMENDED, RELATING TO FUEL VENDOR LICENSING AND SECTION
12-28-1390, AS AMENDED, RELATING TO FUEL VENDOR REPORTING, SO AS TO LIMIT
APPLICABILITY TO WHOLESALE AND DISTRIBUTION OF TAXABLE MOTOR FUEL FOR RESALE;
AND TO AMEND SECTION 12-28-2740, RELATING TO DISTRIBUTION OF MOTOR FUEL TAX
PROCEEDS AMONG COUNTIES, SO AS TO REFLECT THE REPEAL OF SECTION 12-28-2510, TO
CHANGE THE DATE FOR SUBMISSION OF THE PERCENTAGE REPRESENTED BY EACH COUNTY
FROM MARCH THIRTY-FIRST TO MAY FIRST, AND TO PROVIDE A TRANSITION SCHEDULE.
03/04/97 Senate Introduced and read first time SJ-8
03/04/97 Senate Referred to Committee on Finance SJ-8
A BILL
TO AMEND SECTION 12-28-530, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO COMPUTATION OF
FLOORSTOCK OR INVENTORY TAX ON MOTOR FUELS,
AND SECTION 12-28-985, RELATING TO REPORTING AND
PAYMENT OF FLOORSTOCK OR INVENTORY TAX DUE ON
MOTOR FUELS, SO AS TO DELETE APPLICABILITY OF TAX
TO PREVIOUSLY TAXED TAXABLE MOTOR FUEL AND TO
CORRECT CODE REFERENCES; TO AMEND SECTION
12-28-1135, AS AMENDED, RELATING TO FUEL VENDOR
LICENSING AND SECTION 12-28-1390, AS AMENDED,
RELATING TO FUEL VENDOR REPORTING, SO AS TO LIMIT
APPLICABILITY TO WHOLESALE AND DISTRIBUTION OF
TAXABLE MOTOR FUEL FOR RESALE; AND TO AMEND
SECTION 12-28-2740, RELATING TO DISTRIBUTION OF
MOTOR FUEL TAX PROCEEDS AMONG COUNTIES, SO AS
TO REFLECT THE REPEAL OF SECTION 12-28-2510, TO
CHANGE THE DATE FOR SUBMISSION OF THE
PERCENTAGE REPRESENTED BY EACH COUNTY FROM
MARCH THIRTY-FIRST TO MAY FIRST, AND TO PROVIDE A
TRANSITION SCHEDULE.
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 12-28-530 of the 1976 Code, as added by
Act 136 of 1995, is amended to read:
"Section 12-28-530. (A) The tax imposed by Section
12-28-310 on the date of an increase in the tax rate set out in that
section is applicable to previously taxed taxable motor fuel:
(1) in excess of one thousand gallons held in storage by
an end user;
(2) inventory held for sale by a fuel vendor.
(B) The tax imposed by Section 12-28-310 is applicable to
nonexempt inventory held by a person outside of the bulk transfer
system in this State in quantities which, in the aggregate with respect
to the person, exceed one thousand gallons, to the extent the
inventory previously has not been subject to the tax imposed by this
State under the predecessor motor fuel tax statute. However, no tax
is payable with respect to taxable motor fuel which is dyed diesel fuel
or held by an exempt user including government entities described
under Sections 12-28-710(A)(6) and 12-28-710(A)(12).
(C)(B) Persons A person in
possession of taxable motor fuel subject to this section shall
perform the following:
(1) take an inventory to determine the gallons in storage for
purposes of determining the tax on inventory;
(2) deduct the amount of taxable motor fuel in dead storage;
(3) deduct these gallons in which tax at the full rate previously
has been paid;
(4) take a deduction for gallons of dyed diesel fuel included in
item (1) above, if appropriate; and
(5) report the gallons listed in item (1) on forms provided by the
department.
(D)(C) The amount of the inventory tax is equal
to the inventory tax rate times the gallons in storage as determined
under subsection (B). The inventory tax rate is equal to the difference
between the increased tax rate minus the previous tax rate to which
those gallons were previously subjected to tax.
(E)(D) Payment of this floorstock tax must be
made in conformity with Section 12-28-985."
SECTION 2. Section 12-28-985 of the 1976 Code, as added by
Act 136 of 1995, is amended to read:
"Section 12-28-985. The floorstocks tax report required by Section
12-28-530(A) must be accompanied by payment of the
floorstocks tax calculated in accordance with Section
12-28-530(B)(C). Payment must be made on or
before the due date of that report. The floorstocks tax imposed on
inventory held outside of the bulk transfer system on the effective
date of this chapter reportable under Section
12-28-530(A)(B) is payable in two equal annual
installments beginning twelve months after the effective date of the
act. However, a person may pay the full amount due with a timely
filed return and may take a fifteen percent discount."
SECTION 3. Section 12-28-1135 of the 1976 Code, as last
amended by Act 461 of 1996, is further amended to read:
"Section 12-28-1135. (A) Each A person who
engages in the business of selling taxable motor fuel at wholesale or
retail or storing or distributing taxable motor fuel for resale
within this State first shall obtain a fuel vendor license which is
operative for all locations controlled or operated by that licensee in
this State or in any other state from which the person removes fuel for
delivery and use in South Carolina.
(B) Each A fuel vendor shall maintain detailed
records of all purchases and sales for no not less than
three years.
(C) All fuel vendor records must be maintained in English and
Arabic numerals or acceptable to electronic formats.
(D) Each A fuel vendor shall make an annual
report of taxable gallons sold at delivered to retail
outlets by county in accordance with Section 12-28-1390.
(E) In its discretion, the department may exempt from subsection
(A) a persons person who possess
possesses a valid supplier, terminal operator, transporter,
importer, tank wagon operator, or exporter license. The fee for the
fuel vendor license is fifty dollars."
SECTION 4. Section 12-28-1390(A) of the 1976 Code, as last
amended by Act 461 of 1996, is further amended to read:
"(A) A fuel vendor shall file an annual report of total gallons of
gasoline sold at retail through delivered to a retail
outlet accessible to the general public by that vendor by county
before February twenty-eighth annually for the preceding calendar
year."
SECTION 5. Section 12-28-2740(A) of the 1976 Code, as added
by Act 136 of 1995, is amended to read:
"(A) The proceeds from two and sixty-six one-hundredths cents a
gallon of the tax on gasoline only as levied and provided for in this
chapter must be deposited with the State Treasurer and expended for
purposes set forth in this section. The monies must be apportioned
among the counties of the State in the following manner:
(1) one-third distributed in the ratio which the land area
of the county bears to the total land area of the State;
(2) one-third distributed in the ratio which the
population of the county bears to the total population of the State as
shown by the latest official decennial census;
(3) one-third distributed in the ratio which the mileage
of all rural roads in the county bears to the total rural road mileage in
the State as shown by the latest official records of the Department of
Transportation. The Department of Revenue shall collect the
information required pursuant to Section 12-28-2510
12-28-1390 regarding the number of gallons sold in each
county for use in making allocations of donor funds as provided in
subsection (H). The Department of Revenue shall submit the
percentage of the total represented by each county to the Department
of Transportation and to each county transportation committee
annually by March thirty-first May first of the following
calendar year. Upon request of a county transportation
committee, the Department of Transportation shall continue to
administer the funds allocated to the county.
(4) For distribution in 1997, a transitional year as the result
of the change of date for reporting the percentages referenced in item
(3) to May first, the Department of Transportation shall use the latest
data available from the Department of Revenue, which was derived
from sales data for the 1995 calendar year.
(5) All interest earnings on the County Transportation
Fund in the State Treasury must be credited to the State Highway
Fund."
SECTION 6. This act takes effect upon approval by the Governor.
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