H 4041 General Bill, By J.L.M. Cromer and J.G. Felder
 A Bill to amend Section 12-36-2110, as amended, Code of Laws of South
 Carolina, 1976, relating to the maximum tax on the sale or lease of certain
 items, so as to provide that the maximum tax also applies to the sale or lease
 of horse trailers effective July 1, 1993.

   04/14/93  House  Introduced and read first time HJ-43
   04/14/93  House  Referred to Committee on Ways and Means HJ-43

A BILL

TO AMEND SECTION 12-36-2110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM TAX ON THE SALE OR LEASE OF CERTAIN ITEMS, SO AS TO PROVIDE THAT THE MAXIMUM TAX ALSO APPLIES TO THE SALE OR LEASE OF HORSE TRAILERS EFFECTIVE JULY 1, 1993.

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

SECTION 1. Section 12-36-2110(A) of the 1976 Code, as amended, is further amended to read:

"(A) The maximum tax imposed by this chapter is three hundred dollars for each sale made after June 30, 1984, or lease executed after August 31, 1985, of each:

(1) aircraft, including unassembled aircraft which is to be assembled by the purchaser, but not items to be added to the unassembled aircraft;

(2) motor vehicle;

(3) motorcycle;

(4) boat;

(5) trailer or semitrailer, pulled by a truck tractor, as defined in Section 56-3-20, but not including house trailers or campers as defined in Section 56-3-710, and including horse trailers effective July 1, 1993;

(6) recreational vehicle, including tent campers, travel trailer, park model, park trailer, motor home, and fifth wheel; or

(7) self-propelled light construction equipment with compatible attachments limited to a maximum of one hundred sixty net engine horsepower. In the case of a lease, the total tax rate required by law applies on each payment until the total tax paid equals three hundred dollars. Nothing in this section prohibits a taxpayer from paying the total tax due at the time of execution of the lease, or with any payment under the lease. To qualify for the tax limitation provided by this section, a lease must specifically state the term of, and remain in force for, a period in excess of ninety continuous days."

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