South Carolina General Assembly
112th Session, 1997-1998

Bill 4874


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                    4874
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19980324
Primary Sponsor:                Rodgers
All Sponsors:                   Rodgers, Kelley, Limehouse,
                                Pinckney, Seithel, Inabinett, Lee,
                                Bailey, Lloyd, Young-Brickell, Koon,
                                Canty, Rhoad, Harvin, Davenport, Bowers
                                and Littlejohn 
Drafted Document Number:        JIC\5430HTC.98
Residing Body:                  House
Current Committee:              Ways and Means Committee 30
                                HWM
Subject:                        Property tax assessments, five
                                percent assessment ratio extended to
                                commercial vehicles; Motor Vehicles,
                                Taxation

History

Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

House   19980324  Introduced, read first time,             30 HWM
                  referred to Committee


View additional legislative information at the LPITS web site.


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

A BILL

TO AMEND SECTION 12-43-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CLASSIFICATION AND ASSESSMENT RATIOS OF PROPERTY FOR PURPOSES OF PROPERTY TAX, SO AS TO EXTEND THE FIVE PERCENT ASSESSMENT RATIO TO "COMMERCIAL VEHICLES" AND TO DEFINE "COMMERCIAL VEHICLES".

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

SECTION 1. Section 12-43-220(f) of the 1976 Code is amended to read:

"(f) Except as specifically provided by law all other personal property shall must be taxed on an assessment of ten and one-half percent of fair market value of such the property except that commercial fishing boats shall vessels must be taxed on an assessment of five percent of fair market value. As used in this item 'commercial fishing boats vessel' shall mean means a vessel used for any of the following purposes: boats licensed by the Department of Natural Resources which are used exclusively for commercial fishing, shrimping or crabbing.

(1) used exclusively for commercial fishing, shrimping, or crabbing and which is licensed by the Department of Natural Resources for these purposes;

(2) licensed by the Department of Natural Resources as a charter fishing vessel which files monthly catch reports if the owner can demonstrate that at least fifty percent of his earned income is derived from charter fishing activities;

(3) used primarily for towage, pilotage, the transportation of freight, or the transportation for passengers for hire;

(4) used primarily for marine construction activities or used primarily as a tender or support vessel for a commercial operation."

SECTION 2. Upon approval by the Governor, this act is effective for property tax years beginning after 1997.

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