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Bill Number: 716 Ratification Number: 373 Act Number 342 Introducing Body: Senate Subject: Tax commission may require bonds
(A342, R373, S716)
AN ACT TO AMEND SECTION 12-29-150, CODE OF LAWS OF SOUTH CAROLINA, 1976, AS AMENDED, RELATING TO MOTOR FUEL TAXES, SO AS TO PROVIDE THAT THE TAX COMMISSION MAY REQUIRE BONDS OF LICENSED SELLER-USERS WHEN DEEMED NECESSARY FOR THE PROTECTION OF TAX COLLECTIONS INSTEAD OF REQUIRING ALL SELLER-USERS TO OBTAIN SUCH BOND.
Be it enacted by the General Assembly of the State of South Carolina:
Tax commission may require bonds
Section 1. Section 12-29-150 of the 1976 Code, as last amended by Act 197 of 1979, is further amended by striking the second paragraph and inserting:
"The Commission may require any person required to secure a license under the provisions of this section to post a bond either by cash or by a surety company authorized to do business in this State in an amount to be determined by the Tax Commission." The section when amended shall read:
"Section 12-29-150. Any person who purchases, sells or uses combustible gases or liquids, except gasoline which may be used to propel a motor vehicle, shall be licensed by the Tax Commission and shall file with the Commission, upon such forms as the Commission may prescribe, a report which shall show the amount of such fuel purchased, sold or used; provided, that a person licensed as a supplier or a person buying fuel for use and not for resale upon which the tax has been paid at the time of the purchase shall not be required to be licensed by this section, except that any person who operates or causes to be operated motor carriers and who maintains bulk storage facilities in this State for the purposes of purchasing and storing tax paid motor fuel other than gasoline for use in such motor carriers shall secure a license and file reports as required by this section; provided, further, that any person acquiring any such fuel solely for heating purposes and not for resale or for the sole purpose of operating locomotives, farm tractors, pleasure boats or commercial watercraft, aircraft and such fuel used solely for the purpose of manufacturing or processing materials shall not be required to be licensed under this section; provided, further, that the provisions of this section shall not apply to a seller-user of liquefied petroleum gas. All combustible gases and liquids not specifically reported and shown to be used for nonhighway purposes shall be taxed at the rate of ten cents per gallon together with interest and penalties as provided by Section 12-29-620.
The Commission may require any person required to secure a license under the provisions of this section to post a bond either by cash or by a surety company authorized to do business in this State in an amount to be determined by the Tax Commission.
This section shall not apply to any person or firm maintaining storage facilities for kerosene of not more than three hundred gallons and whose average monthly sales do not exceed twelve hundred gallons.
The reports required by this section shall be filed on or before the twentieth day of each month and shall show all inventories, purchases, sales and use of fuel by the license during the preceding calendar month."
Section 2. This act shall take effect upon approval by the Governor.