S 0833 General Bill, By Reese and Elliott
 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 OF CERTAIN ITEMS, SO
 AS TO LIMIT THE TAX ON A SINGLE SALE ON SPECIFIED MOTORIZED UNITS AND THE
 TRAILERS PURCHASED WITH THEM AS A PACKAGE AND ON A BOAT AND MOTOR PURCHASED AS
 A PACKAGE, TO APPLY THE LIMITATION RETROACTIVELY, AND TO REQUIRE THE
 DEPARTMENT OF REVENUE TO REFUND SUMS COLLECTED IN EXCESS OF THE MAXIMUM TAX
 SINCE JULY 1, 2001.

   12/19/01  Senate Prefiled
   12/19/01  Senate Referred to Committee on Finance
   01/08/02  Senate Introduced and read first time SJ-41
   01/08/02  Senate Referred to Committee on Finance SJ-41

TO AMEND SECTION 12-36-2110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM TAX ON THE SALE OF CERTAIN ITEMS, SO AS TO LIMIT THE TAX ON A SINGLE SALE ON SPECIFIED MOTORIZED UNITS AND THE TRAILERS PURCHASED WITH THEM AS A PACKAGE AND ON A BOAT AND MOTOR PURCHASED AS A PACKAGE, TO APPLY THE LIMITATION RETROACTIVELY, AND TO REQUIRE THE DEPARTMENT OF REVENUE TO REFUND SUMS COLLECTED IN EXCESS OF THE MAXIMUM TAX SINCE JULY 1, 2001.

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

SECTION 1. Section 12-36-2110(A) of the 1976 Code is 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 or boat and motor when purchased as a package at the same time by the same purchaser;

(5) trailer or semitrailer, pulled by a truck tractor, as defined in Section 56-3-20, and horse trailers but not including house trailers or campers as defined in Section 56-3-710, and not including a boat trailer, motorcycle trailer, jet ski or wave runner trailer, three wheel or four wheel all terrain vehicle trailer, or other trailer used to transport a motorized unit of that sort which is sold at the same time as and is included in the sale of a boat, motorcycle, jet ski or wave runner, all terrain vehicle, or other motorized unit of that sort to the same purchaser, that package sale to be taxed as a single sale;

(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 be in writing and specifically state the term of, and remain in force for, a period in excess of ninety continuous days."

SECTION 2. Upon approval by the Governor, this act must be applied retroactively to sales taking place on or after July 1, 2001. Sums collected by the Department of Revenue as sales tax in excess of the maximum tax provided by this section must be refunded by the department to the taxpayer, with interest as provided in Section 12-54-25.