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Current Status Bill Number:View additional legislative information at the LPITS web site.3418 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010131 Primary Sponsor:Harrell All Sponsors:Harrell, Quinn, Knotts, Altman, Limehouse, Bingham, Chellis, Harrison, Kelley, Riser, Rodgers, Sandifer, Simrill, W.D. Smith, Tripp, Walker, A. Young, White, Wilkins, Cato, Sharpe, Townsend, Robinson, Martin, Loftis, Leach, Hamilton, Davenport, Edge, McLeod Drafted Document Number:l:\council\bills\bbm\9846htc01.doc Companion Bill Number:199 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Property tax assessment, new class of personal motor vehicle titled by state or federal agency; Taxation, State-owned History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20010222 Recommitted to Committee 30 HWM House 20010221 Co-Sponsor added (Rule 5.2) by Rep. McLeod House 20010220 Request for debate by Representative Harrell Scott J.E. Smith Perry Rice Cato Scarborough Sandifer Govan J.H. Neal Moody- Lawrence House 20010220 Co-Sponsor added (Rule 5.2) by Rep. Edge House 20010214 Recalled from Committee 30 HWM House 20010214 Co-Sponsor added (Rule 5.2) by Rep. Loftis Leach Hamilton Davenport House 20010213 Co-Sponsor added (Rule 5.2) by Rep. Wilkins Cato Sharpe Townsend Robinson Martin House 20010206 Co-Sponsor added (Rule 5.2) by Rep. White ------ 20010201 Companion Bill No. 199 House 20010131 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill Revised on February 14, 2001 - Word format
RECALLED
February 14, 2001
H. 3418
Introduced by Reps. Harrell, Quinn, Knotts, Altman, Limehouse, Bingham, Chellis, Harrison, Kelley, Riser, Rodgers, Sandifer, Simrill, W.D. Smith, Tripp, Walker, A. Young, White, Wilkins, Cato, Sharpe, Townsend, Robinson, Martin, Loftis, Leach, Hamilton and Davenport
S. Printed 2/14/01--H.
Read the first time January 31, 2001.
TO RATIFY AN AMENDMENT TO SECTION 1(8), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, RELATING TO ASSESSMENT RATIOS AND CLASSES OF PROPERTY FOR PURPOSES OF THE PROPERTY TAX, SO AS TO ESTABLISH A NEW CLASS OF PROPERTY CONSISTING OF PERSONAL MOTOR VEHICLES WHICH MUST BE TITLED BY A STATE OR FEDERAL AGENCY AND LIMITED TO PASSENGER MOTOR VEHICLES AND PICKUP TRUCKS AS DEFINED BY LAW ASSESSED FOR PROPERTY TAX AT NINE AND SEVENTY-FIVE HUNDREDTHS PERCENT OF FAIR MARKET VALUE REDUCED IN ANNUAL INCREMENTS OF SEVENTY-FIVE HUNDREDTHS OF ONE PERCENT OVER SIX YEARS TO A PERMANENT RATE OF SIX PERCENT OF FAIR MARKET VALUE AND TO PROVIDE THAT THESE REVISED ASSESSMENT RATIOS AND THE NEW CLASS OF PROPERTY APPLIES FOR PROPERTY TAX YEARS BEGINNING AFTER 2001 OR IN EARLIER TAX YEARS AS THE GENERAL ASSEMBLY MAY PROVIDE BY LAW.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The amendment to Section 1(8), Article X of the Constitution of South Carolina, 1895, prepared under the terms of Joint Resolution 130 of 1999, having been submitted to the qualified electors at the general election of 2000 as prescribed in Section 1, Article XVI of the Constitution of South Carolina, 1895, and a favorable vote having been received on the amendment, is ratified and declared to be a part of the Constitution so that Section 1(8) of Article X is amended to read:
"(8)(A) Except as provided in subitem (B) of this item, all other personal property must be taxed on an assessment equal to ten and one-half percent of the fair market value of the property.
(B)(1) Personal motor vehicles which must be titled by a state or federal agency, limited to passenger motor vehicles and pickup trucks, as defined by law, must be taxed on an assessment equal to the following percentage of fair market value of the property:
Property Tax Year Percentage
year 1 9.75
year 2 9.00
year 3 8.25
year 4 7.50
year 5 6.75
year 6 and after 6.00.
(2) This subitem applies for property tax years beginning after 2001, or for earlier tax years as the General Assembly may provide by law."
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