S*0011(Rat #0178, Act #0130 of 1999)  Joint Resolution, By Drummond, Elliott, 
Leventis, Rankin, Reese and Short
 A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE
 CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND
 CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW
 CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED
 BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND
 PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AND NINE AND
 SEVENTY-FIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL
 INCREMENTS OF SEVENTY-FIVE HUNDREDTHS OF ONE PERCENT OVER SIX YEARS TO A
 PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE
 REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY
 TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY
 MAY PROVIDE BY LAW.-AMENDED TITLE

   11/18/98  Senate Prefiled
   11/18/98  Senate Referred to Committee on Finance
   01/12/99  Senate Introduced and read first time SJ-12
   01/12/99  Senate Referred to Committee on Finance SJ-12
   03/04/99  Senate Recalled from Committee on Finance SJ-32
   03/17/99  Senate Amended SJ-12
   03/17/99  Senate Read second time SJ-12
   03/17/99  Senate Ordered to third reading with notice of
                     amendments SJ-12
   03/18/99  Senate  Adjourned debate until 4/1/99 SJ-11
   04/06/99  Senate Debate adjourned SJ-26
   05/26/99  Senate Read third time and sent to House SJ-68
   05/27/99  House  Introduced and read first time HJ-17
   05/27/99  House  Referred to Committee on Ways and Means HJ-17
   06/01/99  House  Committee report: Favorable with amendment Ways
                     and Means HJ-7
   06/02/99  House  Special order, set for 6/2/99 before call of
                     second reading calendar (Under H 4214) HJ-5
   06/02/99  House  Amended HJ-17
   06/02/99  House  Read second time HJ-21
   06/02/99  House  Roll call Yeas-98 Nays-0 HJ-21
   06/03/99  House  Read third time and returned to Senate with
                     amendments HJ-15
   06/03/99  Senate House amendment amended SJ-229
   06/03/99  Senate Returned to House with amendments SJ-229
   06/22/99  House  Concurred in Senate amendment and enrolled HJ-11
   06/24/99         Ratified R 178
   06/24/99         No signature required
   07/07/99         Copies available
   08/16/99         Act No. 130

A JOINT RESOLUTION PROPOSING AN AMENDMENT TO SECTION 1, ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AT NINE AND SEVENTY-FIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL INCREMENTS OF SEVENTY-FIVE HUNDREDTH OF ONE PERCENT OVER SIX YEARS TO A PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.

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

Reduction of assessment ratios, new class of property

SECTION 1. It is proposed that Section 1(8), Article X of the Constitution of this State be amended to read:

"(8)(A) Except as provided in subitem (B) of this item, all other personal property must be taxed on an assessment equal to ten and one-half percent of the fair market value of the property.

(B)(1) Personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, must be taxed on an assessment equal to the following percentage of fair market value of the property:

Property Tax Year Percentage

year 1 9.75

year 2 9.00

year 3 8.25

year 4 7.50

year 5 6.75

year 6 and after 6.00.

(2) This subitem applies for property tax years beginning after 2001, or for earlier tax years as the General Assembly may provide by law."

Question to be placed on the ballot

SECTION 2. The proposed amendment must be submitted to the qualified electors at the next general election for representatives. Ballots must be provided at the various voting precincts with the following words printed or written on the ballot:

"Must Section 1(8), Article X of the Constitution of this State relating to assessment ratio on 'all other personal property', be amended so as to establish a separate class of property for purposes of the property tax consisting of personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, which must be assessed for property tax at the rate of nine and seventy-five hundredths percent of fair market value declining in equal annual reductions over six years to a permanent rate of six percent; and to define property tax year as property tax years beginning after 2001 or such earlier tax years as the General Assembly may provide by law?

Those voting in favor of the question shall deposit a ballot with a check or cross mark in the square after the word 'Yes', and those voting against the question shall deposit a ballot with a check or cross mark in the square after the word 'No'."

Ratified the 24th day of June, 1999.