South Carolina H 4475: Raheem Robinson 2023 Extraordinary Educator

Bill Text

2025-2026 Bill 4475 Text of Previous Version (May. 01, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 4475

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING 
SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO provide that THE 
EXEMPTION FOR CERTAIN PROPERTY OF A NONPROFIT HOUSING CORPORATION ONLY APPLIES 
TO THE PERCENTAGE OF PROPERTY THAT EQUALS THE CORPORATION'S OWNERSHIP INTEREST 
IN THE PROPERTY, TO PROVIDE AN EXCEPTION, AND TO PROVIDE CERTAIN CERTIFICATION 
AND NOTICE REQUIREMENTS.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Section 12-37-220(B)(11)(a) through (e) of the S.C. 
Code is amended to read:

 (a) all property of nonprofit housing 
corporations devoted exclusively to providing below-cost housing for the aged 
or for handicapped persons or for both aged and handicapped persons as 
authorized by Section 202 of the Housing Act of 1959 and regulated in part by 
24 C.F.R. Part 885;

 (b) 
all property of nonprofit housing corporations devoted exclusively to providing 
below-cost supportive housing for elderly persons or households as authorized 
by Section 202 of the Housing Act of 1959 as amended under Section 801 of the 
National Affordable Housing Act of 1990 and regulated in part by 24 C.F.R. Part 
889;

 (c) 
all property of nonprofit housing corporations devoted exclusively to providing 
below-cost supportive housing for persons with disabilities as authorized by 
Section 811 of the National Affordable Housing Act of 1990 and regulated in 
part by 24 C.F.R. Part 890;

 (d) 
all property of nonprofit housing corporations devoted exclusively to providing 
rental or cooperative housing and related facilities for elderly or handicapped 
persons or families of low or moderate income as authorized by Section 515 of 
Title V of the Housing Act of 1949;

 (e)(i) all property of nonprofit housing corporations or 
instrumentalities of these corporations when the property is devoted to 
providing housing to low or very low income residents. A Except as otherwise provided in this subitem, a nonprofit 
housing corporation or its instrumentality must satisfy the safe harbor 
provisions of Revenue Procedure 96-32 issued by the Internal Revenue Service 
for this exemption to apply. For purposes of this subitem, property of 
nonprofit housing corporations or instrumentalities of these corporations 
includes all leasehold interests in property owned by an entity that provides 
housing accommodations to persons of low or very low income, and in which a 
wholly owned affiliate or wholly owned instrumentality of a nonprofit housing 
corporation is the general partner, managing member, or the equivalent. 
However, except as otherwise provided in this subitem, the 
exemption allowed by this subitem only applies if the property of nonprofit 
housing corporations or instrumentalities of these corporations satisfies the 
safe harbor provisions of Revenue Procedure 96-32 issued by the Internal 
Revenue Service;

 (ii) the exemption allowed by this 
subitem must be proportionate to the nonprofit housing corporation's percentage 
of direct or indirect ownership in the qualifying property, except that if:

 (A) the nonprofit housing 
corporation's percentage of direct or indirect ownership interest in the 
qualifying property exceeds fifty percent; or

 (B) notwithstanding the unit mix 
prescribed by the safe harbor provisions of Revenue Procedure 96-32, all of the 
units in the property are devoted to providing housing to residents who qualify 
as low income under Revenue Procedure 96-32, then the exemption allowed by this 
subitem equals one hundred percent, unless, as determined by the Department of 
Housing and Urban Development, the property is located within a zip code in a 
metropolitan area which uses the Small Area Fair Market Rents, and such 
metropolitan area includes any municipality located in the State of South 
Carolina with a population of five hundred thousand or more residents in which 
case the phrase "residents who qualify as low income" shall be replaced with 
"residents who do not exceed one hundred thirty percent of the very-low income 
limit";

 (iii) to claim the exemption allowed 
by this subitem, the nonprofit housing corporation or its instrumentality must 
apply to the department and certify the nonprofit housing corporation's 
percentage of direct or indirect ownership in the property and provide a rent 
roll or other suitable documentation evidencing compliance with the 
requirements of Revenue Procedure 96-32, as applicable. Such initial 
certification must be made by the first penalty date for the property tax year 
in which the exemption is first claimed for the property. In each subsequent 
year in which the exemption