Download This Version in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
April 19, 2000
S. 1212
S. Printed 4/19/00--H.
Read the first time March 13, 2000.
To whom was referred a Bill (S. 1212), to amend Section 56-3-2332, Code of Laws of South Carolina, 1976, relating to the issue of the standard license plate to a vehicle manufacturer for vehicles used in employee benefit programs, etc., respectfully
That they have duly and carefully considered the same, and recommend that the same do pass:
RONALD P. TOWNSEND, for Committee.
REVENUE IMPACT1
This bill is expected to increase funds allocated to local government property taxes by $9,127 in FY 2000-01. This bill would have no impact on state revenues.
Explanation
This bill would increase the annual registration fee for standard license plates issued to a manufacturer for vehicles used in employee benefit programs, testing, and promotion from $697.46 to $880.00. This fee increase, to be effective January 1, 2001, reflects the base adjustment in odd-numbered-years that is required by this section.
A maximum of fifty license plates may be used for such purposes. Multiplying the net change of $182.54 per plate that is allocated to county property tax times fifty plates would generate an increase of $9,127. Accordingly, the BEA estimates this bill would increase local government property tax revenues by $9,127 in FY 2000-01. The fee change would have no impact on general fund revenues since it does not alter the current allocation of $20 of the plate fee to the general fund.
Approved By:
William C. Gillespie
Board of Economic Advisors
1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact, Section 2-7-76 for a local revenue impact, and Section 6-1-85(B) for an estimate of the shift in local property tax incidence.
TO AMEND SECTION 56-3-2332, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ISSUE OF THE STANDARD LICENSE PLATE TO A VEHICLE MANUFACTURER FOR VEHICLES USED IN EMPLOYEE BENEFIT PROGRAMS, TESTING, OR PROMOTIONAL PURPOSES, SO AS TO INCREASE THE ANNUAL REGISTRATION FEE FROM SIX HUNDRED NINETY-SEVEN DOLLARS AND FORTY-SIX CENTS TO EIGHT HUNDRED EIGHTY DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 56-3-2332(B) of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"(B) The annual registration fee for this plate is six eight hundred ninety-seven eighty dollars and forty-six cents.
(1) The plates issued in connection with an employee benefit program may be used only on vehicles provided for the applicant's employees. In the application, the manufacturer shall notify the department in which county the employee assigned the vehicle resides. Twenty dollars of the fee must be credited to the general fund of the State and six eight hundred seventy-seven sixty dollars and forty-six cents must be remitted to the county noted on the application. Amounts received by a county pursuant to this subsection must be credited to the accounts of taxing entities in the county as if it were a county property tax and are instead of state sales or use taxes. If the employee resides outside this State, the fee must be credited pro rata to all other counties due amounts under this section. The names and addresses of the employees are not required to be submitted to the department, but the department may require the documentation it determines necessary to ensure compliance with the provisions of this section.
(2) The plates issued in connection with testing, distribution, evaluation, and promotion, not to exceed fifty plates, may be used only for those purposes. Twenty dollars of the fee must be credited to the general fund of the State and six eight hundred seventy-seven sixty dollars and forty-six cents must be remitted to the county in which the principal facility of the manufacturer is located. Amounts received by a county pursuant to this subsection must be credited to the accounts of taxing entities in the county as if it were a county property tax and are instead of state sales or use taxes. The department may require the documentation it determines necessary to ensure compliance with the provisions of this subsection."
SECTION 2. This act takes effect January 1, 2001.
This web page was last updated on Friday, June 26, 2009 at 2:54 P.M.