S 0212 General Bill, By Campsen
 A BILL TO AMEND SECTION 12-37-224 OF THE 1976 CODE, RELATING TO THE ASSESSMENT
 OF PROPERTY TAXES FOR BOATS AND WATERCRAFT WITH CERTAIN FEATURES, TO PROVIDE
 THAT A PERSON MAY CLAIM A QUALIFYING BOAT OR WATERCRAFT AS HIS PRIMARY
 RESIDENCE FOR PURPOSES OF AD VALOREM PROPERTY TAXATION, TO PROVIDE FOR
 APPLICATION FILING REQUIREMENTS IN THE EVENT OF A CHANGE IN OWNERSHIP, AND TO
 DEFINE NECESSARY TERMS.

   12/10/14  Senate Prefiled
   12/10/14  Senate Referred to Committee on Finance
   01/13/15  Senate Introduced and read first time
                     (Senate Journal-page 134)
   01/13/15  Senate Referred to Committee on Finance
                     (Senate Journal-page 134)

TO AMEND SECTION 12-37-224 OF THE 1976 CODE, RELATING TO THE ASSESSMENT OF PROPERTY TAXES FOR BOATS AND WATERCRAFT WITH CERTAIN FEATURES, TO PROVIDE THAT A PERSON MAY CLAIM A QUALIFYING BOAT OR WATERCRAFT AS HIS PRIMARY RESIDENCE FOR PURPOSES OF AD VALOREM PROPERTY TAXATION, TO PROVIDE FOR APPLICATION FILING REQUIREMENTS IN THE EVENT OF A CHANGE IN OWNERSHIP, AND TO DEFINE NECESSARY TERMS.

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

SECTION    1.    Chapter 37, Title 12 of the 1976 Code is amended to read:

"Section 12-37-224.    (A)    A motor home or trailer used for camping and recreational travel that is pulled by a motor vehicle on which the interest portion of indebtedness is deductible pursuant to the Internal Revenue Code as an interest expense on a qualified primary or secondary residence also is a primary or secondary residence for purposes of ad valorem property taxation in this State. The fair market value of a motor home or trailer used for camping and recreational travel that is pulled by a motor vehicle classified for property tax purposes as a primary or secondary residence pursuant to this section must be determined in the manner that motor vehicles are valued for property tax purposes.

(B)(1)    A person who owns a boat or watercraft that contains a cooking area with an onboard power source, a toilet with exterior evacuation, and a sleeping quarter, may claim one boat or watercraft as a primary residence and one boat or watercraft as a secondary residence for purposes of ad valorem property taxation in this State. The fair market value of the boat or watercraft classified for property tax purposes as a primary or secondary residence pursuant to this section must be determined in the manner that motor vehicles are valued for property tax purposes. A boat or watercraft classified for property tax purposes as a primary or secondary residence pursuant to this section is not a watercraft or motor for purposes of Section 12-37-220(B)(38).

(2)    Only an individual may claim a qualifying boat or watercraft as his primary residence for purposes of ad valorem property taxation. The individual The person or his agent claiming a qualifying boat or watercraft as his primary residence for purposes of ad valorem property taxation must certify the qualifying boat or watercraft as his primary residence pursuant to Section 12-43-220(c)(2)(ii). Additionally, the individual the person or his agent must provide any proof the assessor requires pursuant to Section 12-43-220(c)(2)(iv). One other qualifying boat or watercraft owned by an individual a person that cannot be considered a primary residence, or one other qualifying boat or watercraft owned by another person shall be considered a secondary residence for purposes of ad valorem property taxation.

(3)    No further applications are necessary from the person while the boat or watercraft for which the initial application was made continues to qualify as a primary or secondary residence. If a change in ownership or use occurs, the person who claimed the boat or watercraft shall notify the assessor of the change in classification within six months of the change. Another application is required by the new owner to qualify the boat or watercraft as the person's primary or secondary residence under this section.

(4)    For purposes of this subsection a person includes an individual, a sole proprietorship, partnership, and an 'S' corporation, including a limited liability company taxed as sole proprietorship, partnership, or 'S' corporation."

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