South Carolina General Assembly
112th Session, 1997-1998

Bill 730


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                       730
Type of Legislation:               General Bill GB
Introducing Body:                  Senate
Introduced Date:                   19970506
Primary Sponsor:                   Reese 
All Sponsors:                      Reese 
Drafted Document Number:           bbm\9421htc.97
Residing Body:                     Senate
Current Committee:                 Finance Committee 06 SF
Subject:                           Property tax assessments,
                                   aircraft placed in service before
                                   1951 deemed to be five hundred
                                   dollars; Aeronautics



History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________
Senate  19970506  Introduced, read first time,             06 SF
                  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 THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-360 SO AS TO PROVIDE THAT THE ASSESSED VALUE OF AN AIRCRAFT PLACED IN SERVICE BEFORE 1951 IS DEEMED TO BE FIVE HUNDRED DOLLARS AND TO EXCLUDE AIRCRAFT OPERATED BY AIRLINE COMPANIES FROM THIS VALUATION.

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

SECTION 1. Article 3, Chapter 43, Title 12 of the 1976 Code is amended by adding:

"Section 12-43-360. Except for aircraft subject to property tax under the provisions of Article 19 of Chapter 37 of this title, an aircraft first placed in service before 1951 is deemed to have an assessed value of five hundred dollars. The date an aircraft is placed in service must be determined from its official log or by other means determined appropriate by the Property Tax Division of the Department of Revenue."

SECTION 2. This act takes effect upon approval by the Governor and applies for property tax years beginning after 1996.

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