Bill Text: SC S0027 | 2011-2012 | 119th General Assembly | Comm Sub
Bill Title: Property tax exemptions
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2011-02-23 - Committee report: Favorable Finance [S0027 Detail]
Download: South_Carolina-2011-S0027-Comm_Sub.html
COMMITTEE REPORT
February 23, 2011
S. 27
S. Printed 2/23/11--S.
Read the first time January 11, 2011.
To whom was referred a Bill (S. 27) to amend Section 12-37-220 of the 1976 Code, relating to property tax exemptions including an exemption of two private passenger vehicles owned or leased by a totally, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
HUGH K. LEATHERMAN, SR. for Committee.
REVENUE IMPACT 1/
This bill is not expected to impact state revenues. Local property tax revenue on cars would be reduced by $7,680 in FY 2011-12.
Explanation
Under current law, two private passenger vehicles owned or leased by any disabled veteran designated by the veteran for which special license tags have been issued by the Department of Motor Vehicles under the provisions of Sections 56-3-1110 to 56-3-1130 or, in lieu of the license, if the veteran has a certificate signed by the county service officer or the Veterans Administration of the total and permanent disability which must be filed with the Department of Motor Vehicles is exempt from property taxes. This bill adds two private passenger vehicles owned or leased by a South Carolina firefighter classified as totally and permanently disabled due to a service-connected disability to this exemption. Based on information from the Department of Revenue 24 homes of former firefighters, including volunteer firefighters, who are permanently and totally disabled as a result of a firefighting service-connected disability are currently exempted from property taxes under Code Section 12-37-220 (B)(1)(C). Applying this new exemption of two private passenger motor vehicles owned or leased by a South Carolina firefighter classified as totally and permanently disabled due to a service-connected disability is estimated to add 48 additional cars. Multiplying 48 cars times the average property tax paid on cars of $160 yields $7,680 of property tax revenue from cars that will be exempted by this bill.
Approved By:
William C. Gillespie
Board of Economic Advisors
1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact by the BEA, or Section 2-7-76 for a local revenue impact or Section 6-1-85(B) for an estimate of the shift in local property tax incidence by the Office of Economic Research.
A BILL
TO AMEND SECTION 12-37-220 OF THE 1976 CODE, RELATING TO PROPERTY TAX EXEMPTIONS INCLUDING AN EXEMPTION OF TWO PRIVATE PASSENGER VEHICLES OWNED OR LEASED BY A TOTALLY AND PERMANENTLY DISABLED VETERAN, TO PROVIDE THAT A TOTALLY AND PERMANENTLY DISABLED FIREFIGHTER ALSO QUALIFIES FOR THIS EXEMPTION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B)(3) of the 1976 Code is amended to read:
"(3) Two private passenger vehicles owned or leased by any disabled veteran designated by the veteran for which special license tags have been issued by the Department of Motor Vehicles under the provisions of Sections 56-3-1110 to 56-3-1130 or, in lieu of the license, if the veteran has a certificate signed by the county service officer or the Veterans Administration of the total and permanent disability which must be filed with the Department of Motor Vehicles. In addition, two private passenger vehicles owned or leased by a South Carolina firefighter classified as totally and permanently disabled due to a service-connected disability also qualifies for this exemption and the appropriate taxing official may require such proof of disability as he considers necessary."
SECTION 2. The exemption of two private passenger vehicles for a totally and permanently disabled firefighter provided in Section 12-37-220(B)(3), as amended in Section 1, applies beginning with calendar year 2011.
SECTION 3. This act takes effect upon approval by the Governor.
