South Carolina General Assembly
113th Session, 1999-2000

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Bill 4297

Indicates Matter Stricken
Indicates New Matter

                    Current Status

Bill Number:                      4297
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20000111
Primary Sponsor:                  R. Smith
All Sponsors:                     R. Smith, Bales, Riser, W. McLeod
Drafted Document Number:          l:\council\bills\nbd\11535mm00.doc
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Motor home, residence requirements for 
                                  purposes of property tax exemptions; 
                                  Recreational trailer, Mobile Homes


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20000210  Co-Sponsor added (Rule 5.2) by Rep.            W. McLeod
House   20000113  Co-Sponsor added (Rule 5.2) by Rep.            Riser
House   20000111  Introduced, read first time,           30 HWM
                  referred to Committee
House   19991110  Prefiled, referred to Committee        30 HWM


              Versions of This Bill
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-226 SO AS TO PROVIDE THAT A RECREATIONAL TRAILER ON WHICH THE INTEREST PORTION OF INDEBTEDNESS IS DEDUCTIBLE PURSUANT TO THE INTERNAL REVENUE CODE AS AN INTEREST EXPENSE ON A QUALIFIED PRIMARY OR SECOND RESIDENCE IS ALSO A PRIMARY OR SECOND RESIDENCE FOR PURPOSES OF AD VALOREM PROPERTY TAXATION IN THIS STATE AND IS CONSIDERED REAL PROPERTY RATHER THAN PERSONAL PROPERTY FOR PROPERTY TAX PURPOSES.

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

SECTION 1. The 1976 Code is amended by adding:

"Section 12-37-226. A recreational trailer on which the interest portion of indebtedness is deductible pursuant to the Internal Revenue Code as an interest expense on a qualified primary or second residence is also a primary or second residence for purposes of ad valorem property taxation in this State and is considered real property rather than personal property for property tax purposes."

SECTION 2. Upon approval by the Governor this act is effective for property tax years beginning after 1999.

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