Bill 4570

                    Current Status

Bill Number:                    4570
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19980204
Primary Sponsor:                Easterday
All Sponsors:                   Easterday, Simrill, Leach,
                                Inabinett, Mason, McKay, Rodgers,
                                Hamilton, R. Smith, Lloyd, Vaughn,
                                Stille, Young, McGee, Koon,
                                Moody-Lawrence, McMaster, Rice, Fleming
                                and Bauer 
Drafted Document Number:        dka\4717mm.98
Residing Body:                  Senate
Current Committee:              Finance Committee 06 SF
Date of Last Amendment:         19980429
Subject:                        Sales and use tax exemption,
                                consumer motor vehicle leases when
                                purchased under conditions;
                                Taxation

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

Senate  19980505  Introduced, read first time,             06 SF
                  referred to Committee
House   19980430  Read third time, sent to Senate
House   19980429  Amended, read second time
House   19980429  Amended, debate adjourned
House   19980423  Committee report: Favorable with         30 HWM
                  amendment
House   19980204  Introduced, read first time,             30 HWM
                  referred to Committee

AMENDED

April 29, 1998

H. 4570

Introduced by Reps. Easterday, Simrill, Leach, Inabinett, Mason, McKay, Rodgers, Hamilton, R. Smith, Lloyd, Vaughn, Stille, Young, McGee, Koon, Moody-Lawrence, McMaster, Rice, Fleming and Bauer

S. Printed 4/29/98--H.

Read the first time February 4, 1998.

A BILL

TO AMEND SECTION 12-36-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE DEFINITION OF "GROSS PROCEEDS OF SALES" FOR PURPOSES OF THE SALES AND USE TAX, SO AS TO PROVIDE FOR AN EXEMPTION FOR CONSUMER AUTOMOBILE LEASES WHEN THE AUTOMOBILE IS PURCHASED UNDER CERTAIN CIRCUMSTANCES.

Amend Title To Conform

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

SECTION 1. Section 12-36-90(2) of the 1976 Code, as last amended by Act 431 of 1996, is further amended by adding:

"(h) the purchase price paid by the lessee during or at the end of the term of a consumer automobile lease pursuant to the provisions of the lease to the extent that the sales tax has already been paid on the lease pursuant to this chapter. When the lessee purchases the automobile during or at the end of the term of the lease, any sales tax remaining to be paid by the lessee on the purchase price is due and payable at that time."

SECTION 2. This act takes effect upon signature of Governor.