South Carolina General Assembly
113th Session, 1999-2000

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Bill 3302

Indicates Matter Stricken
Indicates New Matter

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

RECALLED

January 27, 1999

H. 3302

Introduced by Rep. Easterday

S. Printed 1/27/99--H.

Read the first time January 19, 1999.

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.

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 as provided by this chapter. When the lessee purchases the automobile during or at the end of the term of the lease, 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 approval by the Governor.

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