Current Status Bill Number:
4570Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19980204Primary Sponsor: EasterdayAll Sponsors: Easterday, Simrill, Leach, Inabinett, Mason, McKay, Rodgers, Hamilton, R. Smith, Lloyd, Vaughn, Stille, Young, McGee, Koon, Moody-Lawrence, McMaster, Rice, Fleming and BauerDrafted Document Number: dka\4717mm.98Residing Body: SenateCurrent Committee: Finance Committee 06 SFDate of Last Amendment: 19980429Subject: Sales and use tax exemption, consumer motor vehicle leases when purchased under conditions; Taxation
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ Senate 19980505 Introduced, read first time, 06 SF referred to Committee House 19980430 Read third time, sent to Senate House 19980429 Amended, read second time House 19980429 Amended, debate adjourned House 19980423 Committee report: Favorable with 30 HWM amendment House 19980204 Introduced, read first time, 30 HWM referred to CommitteeView additional legislative information at the LPITS web site.
April 29, 1998
Introduced by Reps. Easterday, Simrill, Leach, Inabinett, Mason, McKay, Rodgers, Hamilton, R. Smith, Lloyd, Vaughn, Stille, Young, McGee, Koon, Moody-Lawrence, McMaster, Rice, Fleming and Bauer
S. Printed 4/29/98--H.
Read the first time February 4, 1998.
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.
Amend Title To Conform
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 pursuant to this chapter. When the lessee purchases the automobile during or at the end of the term of the lease, any 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 signature of Governor.