TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TWENTY THOUSAND DOLLARS OF VALUE OF A PERSONAL MOTOR VEHICLE OWNED OR LEASED BY A PERSON WHO HAS BEEN A RESIDENT OF THIS STATE FOR AT LEAST ONE YEAR AND HAS REACHED THE AGE OF SIXTY-FIVE YEARS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B) of the 1976 Code, as last amended by Act 23 of 2015, is further amended by adding an appropriately numbered item at the end to read:
"( ) the first twenty thousand dollars of value of a personal motor vehicle owned or leased by a person who has been a resident of this State for at least one year and has reached the age of sixty-five years on or before December thirty-first."
SECTION 2. This act takes effect upon approval by the Governor and first applies after 2017.