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Indicates Matter Stricken
Indicates New Matter
AMENDED--NOT PRINTED IN THE HOUSE
Amt. No. 4A (Doc. Name Council\ggs\amend\22610AC00)
Amt. No. 7A (Doc. Name Council\swb\amend\5193DJC00)
Amt. No. 8A (Doc. Name Council\nbd\amend\12024AC00)
April 26, 2000
H. 3393
S. Printed 4/6/00--S.
Read the first time May 4, 1999.
TO AMEND CHAPTER 23, TITLE 50, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO WATERCRAFT AND MOTOR TITLING, BY ADDING SECTION 50-23-295 SO AS TO PROVIDE THAT A CERTIFICATE OF TITLE TO WATERCRAFT MAY NOT BE TRANSFERRED IF THE DEPARTMENT OF NATURAL RESOURCES HAS NOTICE THAT PROPERTY TAXES ARE OWED ON THE WATERCRAFT OR OUTBOARD MOTOR.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 23, Title 50 of the 1976 Code is amended by adding:
"Section 50-23-295. A certificate of title to watercraft or an outboard motor may not be transferred if the department has notice that property taxes payable by the current owner within the past three years are owed on the watercraft or outboard motor. If transfer of title has been denied pursuant to this section, a tax receipt on the watercraft or outboard motor from the person officially charged with the collection of ad valorem taxes in the county of residence must be accepted as proof that the taxes have been paid. The bill of sale or title to watercraft or an outboard motor shall require certification that property taxes have been paid by the current owner as of the date of sale.
The county treasurer or other appropriate official annually, or more frequently as the county may deem appropriate, shall transmit a list of delinquent taxes due on watercraft and outboard motors to the department. The list may be transmitted in any electronic format as may be deemed acceptable by the department.
The current owner is not required to pay property taxes pursuant to the provisions of this section if such tax levy is below exemption for the minimum tax on boats. The tax levies for the prior three years may not be used cumulatively to exceed the minimum tax levy collection threshold."
SECTION 2. A. 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 be taxed on an assessment of ten and one-half percent of fair market value of such property, except that commercial fishing boats and commercial tugboats shall be taxed on an assessment of five percent of fair market value. As used in this item 'commercial fishing boats' shall mean boats licensed by the Department of Natural Resources which are used exclusively for commercial fishing, shrimping, or crabbing. As used in this item, 'commercial tugboats' shall mean boats used exclusively for harbor and ocean towing, documented with the U.S. Coast Guard, constructed of steel, and being at least seventy-nine feet in length and having a gross tonnage of at least ninety-nine tons."
B. This section is effective for tax year commencing January 1, 1999.
SECTION 3. The 1976 Code is amended by adding:
"Section 12-37-225. A boat on which the interest portion of any indebtedness on it is or would be deductible under the Internal Revenue Code if the boat were owned by an individual as an interest expense on a qualified primary or second residence is also deemed to be a primary or second residence for purposes of ad valorem property taxation in this State and as such is considered real rather than personal property for these purposes, whether it is owned by an individual or other legal entity."
SECTION 4. This act takes effect upon approval by the Governor.
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