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Bill 3322

                    Current Status

Bill Number:                      3322
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  19990120
Primary Sponsor:                  Rodgers
All Sponsors:                     Rodgers, Pinckney, Lloyd and Gilham
Drafted Document Number:          l:\council\bills\kgh\15120htc99.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Property tax assessments, five percent 
                                  assessment ratio extended to commercial motor 
                                  vehicles; Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   19990120  Introduced, read first time,           30 HWM
                  referred to Committee


                             Versions of This Bill

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION AND ASSESSMENT RATIOS OF PROPERTY FOR PURPOSES OF PROPERTY TAX, SO AS TO EXTEND THE FIVE PERCENT ASSESSMENT RATIO TO "COMMERCIAL VEHICLES" AND TO DEFINE "COMMERCIAL VEHICLES".

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

SECTION 1. Section 12-43-220(f) of the 1976 Code is amended to read:

"(f) Except as specifically provided by law, all other personal property shall must be taxed on an assessment of ten and one-half percent of fair market value of such the property except that commercial fishing boats shall vessels must be taxed on an assessment of five percent of fair market value. As used in this item, 'commercial fishing boats vessel' shall mean means a vessel used for any of the following purposes: boats licensed by the Department of Natural Resources which are used exclusively for commercial fishing, shrimping or crabbing.

(1) exclusively for commercial fishing, shrimping, or crabbing and which is licensed by the Department of Natural Resources for these purposes;

(2) a charter fishing vessel licensed by the Department of Natural Resources and which files monthly catch reports if the owner can demonstrate that at least fifty percent of his earned income is derived from charter fishing activities;

(3) primarily for towage, pilotage, the transportation of freight, or the transportation for passengers for hire;

(4) primarily for marine construction activities or used primarily as a tender or support vessel for a commercial operation."

SECTION 2. Upon approval by the Governor, this act is effective for property tax years beginning after 1998.

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