S 0928 General Bill, By Giese, Leventis and Reese
 A Bill to amend Section 56-3-905, as amended, Code of Laws of South Carolina,
 1976, relating to motor vehicle registration refunds, so as to limit the
 issuance of a refund equal to one-half of the biennial registration fee paid
 on the vehicle to persons who own certain vehicles weighing less than five
 thousand pounds and who surrender a license plate and registration during the
 first twelve months of the licensing period, and to require the issuance of
 the prorated amount of the registration fee covering the remaining full months
 of the licensing period to persons who own vehicles five thousand pounds or
 more and who surrender a license plate and registration during the licensing
 period.

   10/10/95  Senate Prefiled
   10/10/95  Senate Referred to Committee on Finance
   01/09/96  Senate Introduced and read first time SJ-64
   01/09/96  Senate Referred to Committee on Finance SJ-64

A BILL

TO AMEND SECTION 56-3-905, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MOTOR VEHICLE REGISTRATION REFUNDS, SO AS TO LIMIT THE ISSUANCE OF A REFUND EQUAL TO ONE-HALF OF THE BIENNIAL REGISTRATION FEE PAID ON THE VEHICLE TO PERSONS WHO OWN CERTAIN VEHICLES WEIGHING LESS THAN FIVE THOUSAND POUNDS AND WHO SURRENDER A LICENSE PLATE AND REGISTRATION DURING THE FIRST TWELVE MONTHS OF THE LICENSING PERIOD, AND TO REQUIRE THE ISSUANCE OF THE PRORATED AMOUNT OF THE REGISTRATION FEE COVERING THE REMAINING FULL MONTHS OF THE LICENSING PERIOD TO PERSONS WHO OWN VEHICLES FIVE THOUSAND POUNDS OR MORE AND WHO SURRENDER A LICENSE PLATE AND REGISTRATION DURING THE LICENSING PERIOD.

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

SECTION 1. Section 56-3-905 of the 1976 Code, as last amended by Act 417 of 1994, is further amended to read:

"Section 56-3-905. (A) Notwithstanding the provisions of Section 56-3-900, when the owner or lessee of a motor vehicle weighing less than five thousand pounds or a vehicle including, but not limited to, trailers and semitrailers, licensed and registered for a biennium pursuant to Section 56-3-253, surrenders the license plate and registration to the department in the first twelve months of the licensing period, the department shall refund to the owner or lessee an amount equal to one-half the registration fee paid on the vehicle. If the owner or lessee is simultaneously registering another vehicle, the refund amount, at the owner's or lessee's option, may be applied against the registration fee due.

(B) Notwithstanding the provisions of Section 56-3-900, when the owner or lessee of a motor vehicle weighing five thousand pounds or more, licensed and registered for a biennium pursuant to Section 56-3-253, surrenders the license plate and registration to the department before the expiration of the licensing period, the department shall refund to the owner or lessee the prorated amount of the registration fee paid on the vehicle covering the full months remaining in the period. If the owner or lessee is simultaneously registering another vehicle, the refund amount, at the owner's or lessee's option, may be applied against the registration fee due."

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