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TO AMEND SECTION 12-37-224, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX ON MOTOR HOMES, SO AS TO PROVIDE THAT IN DETERMINING THE FAIR MARKET VALUE OF A MOTOR HOME SUBJECT TO PROPERTY TAX AS A PRIMARY OR SECOND RESIDENCE THE MOTOR HOME IS CONSIDERED A MOTOR VEHICLE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-224 of the 1976 Code is amended to read:
"Section 12-37-224. A motor home 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 all property tax purposes except determination of fair market value, for which purpose the motor home is considered a motor vehicle."
SECTION 2. This act takes effect upon approval by the Governor and applies for real property tax years beginning after 2005.
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