South Carolina General Assembly
114th Session, 2001-2002

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Bill 199


                    Current Status

Bill Number:                      199
Ratification Number:              16
Act Number:                       10
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  20010124
Primary Sponsor:                  Leatherman
All Sponsors:                     Leatherman, Peeler, Giese, McConnell, 
                                  Wilson, Mescher, Ravenel, Richardson, Waldrep, 
                                  Branton, Ritchie, Martin, Alexander, Verdin, 
                                  Grooms, Reese, Courson
Drafted Document Number:          l:\council\bills\pt\1154dw01.doc
Companion Bill Number:            3418
Date Bill Passed both Bodies:     20010223
Governor's Action:                U  Signature of Governor not required
Date of Governor's Action:        20010306
Subject:                          Property tax assessment, new class of 
                                  personal motor vehicle titled by state or 
                                  federal agency; Taxation, State-owned


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
------  20010330  Act No. A10
------  20010306  Signature of Governor not required
------  20010306  Ratified R16
House   20010223  Read third time, enrolled for
                  ratification
House   20010222  Read second time, unanimous consent
                  for third reading on the next
                  Legislative day
House   20010220  Recalled from Committee                30 HWM
House   20010220  Introduced, read first time,           30 HWM
                  referred to Committee
Senate  20010215  Read third time, sent to House
Senate  20010208  Co-Sponsor added by Senator                    Courson
Senate  20010201  Co-Sponsor added by Senator                    Reese
Senate  20010201  Co-Sponsor added by Senator                    Grooms
Senate  20010201  Read second time, notice of
                  general amendments
------  20010201  Companion Bill No. 3418
------  20010201  Scrivener's error corrected
Senate  20010131  Committee report: Favorable            06 SF
Senate  20010124  Introduced, read first time,           06 SF
                  referred to Committee


              Versions of This Bill
Revised on January 31, 2001 - Word format
Revised on February 1, 2001 - Word format
Revised on February 20, 2001 - Word format

View additional legislative information at the LPITS web site.


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

(A10, R16, S199)

AN ACT TO RATIFY AN AMENDMENT TO SECTION 1(8), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AT NINE AND SEVENTY-FIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL INCREMENTS OF SEVENTY-FIVE HUNDREDTHS OF ONE PERCENT OVER SIX YEARS TO A PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.

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

Assessment ratios revised

SECTION 1. The amendment to Section 1(8), Article X of the Constitution of South Carolina, 1895, prepared under the terms of Joint Resolution 130 of 1999, having been submitted to the qualified electors at the general election of 2000 as prescribed in Section 1, Article XVI of the Constitution of South Carolina, 1895, and a favorable vote having been received on the amendment, is ratified and declared to be a part of the Constitution so that Section 1(8) of Article X is amended to read:

"(8)(A) Except as provided in subitem (B) of this item, all other personal property must be taxed on an assessment equal to ten and one-half percent of the fair market value of the property.

(B)(1) Personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, must be taxed on an assessment equal to the following percentage of fair market value of the property:

Property Tax Year Percentage

year 1 9.75

year 2 9.00

year 3 8.25

year 4 7.50

year 5 6.75

year 6 and after 6.00

(2) This subitem applies for property tax years beginning after 2001 or for earlier tax years as the General Assembly may provide by law."

Ratified the 6th day of March, 2001.

__________


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