South Carolina General Assembly
116th Session, 2005-2006

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S. 776

STATUS INFORMATION

General Bill
Sponsors: Senator Verdin
Document Path: l:\council\bills\ggs\22105htc05.doc

Introduced in the Senate on April 20, 2005
Introduced in the House on February 8, 2006
Last Amended on May 16, 2006
Currently residing in the House Committee on Ways and Means

Summary: Antique motor vehicle

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   4/20/2005  Senate  Introduced and read first time SJ-4
   4/20/2005  Senate  Referred to Committee on Finance SJ-4
    2/1/2006  Senate  Committee report: Favorable with amendment Finance SJ-40
    2/2/2006  Senate  Amended SJ-9
    2/2/2006  Senate  Read second time SJ-9
    2/7/2006  Senate  Read third time and sent to House SJ-20
    2/8/2006  House   Introduced and read first time HJ-10
    2/8/2006  House   Referred to Committee on Ways and Means HJ-10
    5/4/2006  House   Recalled from Committee on Ways and Means HJ-111
   5/10/2006  House   Debate adjourned until Thursday, May 11, 2006 HJ-105
   5/11/2006  House   Debate adjourned until Tuesday, May 16, 2006 HJ-17
   5/16/2006  House   Amended HJ-8
   5/16/2006  House   Requests for debate-Rep(s). Scott, J Brown, Thompson, 
                        Rivers, Weeks, Moody-Lawrence, Kirsh, Mack, Duncan, 
                        Vaughn, Jefferson, Emory, Hosey, Rice, Taylor, 
                        Merrill, and Umphlett HJ-11
   5/16/2006  House   Requests for debate removed-Rep(s). Duncan and Taylor 
                        HJ-27
   5/17/2006  House   Motion noted- Rep. Scott notes a motion to reconsider 
                        the vote whereby amendment no. 1 was adopted HJ-121
   5/17/2006  House   Motion noted- Rep. Scott notes a motion to reconsider 
                        the vote whereby amendment no. 2 was adopted HJ-121
   5/24/2006  House   Debate adjourned until Thursday, May 25, 2006 HJ-124
   5/25/2006  House   Debate adjourned HJ-49
   5/30/2006  House   Recommitted to Committee on Ways and Means HJ-53

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/20/2005
2/1/2006
2/2/2006
5/4/2006
5/16/2006

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

Indicates Matter Stricken

Indicates New Matter

AMENDED--NOT PRINTED IN THE HOUSE

Amt. No. 1 (Doc. Path council\nbd\12533ac06)

Amt. No. 2 (Doc. Path council\nbd\12541ac06)

May 16, 2006

S. 776

Introduced by Senator Verdin

S. Printed 5/4/06--H.

Read the first time February 8, 2006.

            

A BILL

TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO ALLOW A PROPERTY TAX EXEMPTION FOR A MOTOR VEHICLE LICENSED AND REGISTERED BY THE SOUTH CAROLINA DEPARTMENT OF MOTOR VEHICLES AS AN ANTIQUE MOTOR VEHICLE.

Amend Title To Conform

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

SECTION    1.    Section 12-37-220(B) of the 1976 Code is amended by adding an appropriately numbered item at the end to read:

"( )    a motor vehicle licensed and registered as an antique motor vehicle pursuant to Article 23, Chapter 3 of Title 56."

SECTION    2.    A.    Section 12-37-224 of the 1976 Code, as added by Act 114 of 1999, is amended to read:

"Section 12-37-224.    A motor home or boat 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."

B.    Section 12-37-220(B)(38) of the 1976 Code is amended to read:

"(38)(a)    Watercraft and motors which that have an assessment of not more than fifty dollars.

(b)    an amount of the fair market value of any watercraft, including those assessed pursuant to Section 12-37-224, sufficient to limit to one thousand five hundred dollars the total property tax on the watercraft for a property-tax year."

C.    (1)     Section 12-37-224 of the 1976 Code is amended to read:

"Section 12-37-224.    A motor home, or trailer used for camping and recreational travel that is pulled by a motor vehicle, 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."

(2)        SECTION C.(1) takes effect upon approval by the Governor and is applicable for travel trailer property tax years beginning after 2006.

D.    This section takes effect upon approval by the Governor and applies for property tax years beginning after 2005.

SECTION    3.    A.    Section 12-37-224 of the 1976 Code is amended to read:

"Section 12-37-224.    A motor home, or trailer used for camping and recreational travel that is pulled by a motor vehicle, 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."

B.    This section takes effect upon approval by the Governor and is applicable for travel trailer property tax years beginning after 2005.

SECTION    4.    This act takes effect upon approval by the Governor and applies for antique motor vehicle property tax years beginning after June 30, 2006.

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