H 4029 General Bill, By Putnam, Simrill and White Summary: Ad Valorem Taxation A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-37-223 SO AS TO PROVIDE THAT FOR PURPOSES OF AD VALOREM TAXATION, THE FAIR MARKET VALUE OF A MOTOR VEHICLE MAY NOT EXCEED THE AMOUNT PAID FOR THE MOTOR VEHICLE, SO LONG AS THE MOTOR VEHICLE WAS PURCHASED FROM A LICENSED DEALER. View full text