South Carolina S 256: Retirement system; amount earned upon returning to employment

Bill Text

2025-2026 Bill 256 Text of Previous Version (May. 07, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 256

Indicates Matter Stricken
Indicates New Matter

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

Indicates Matter 
Stricken

Indicates New Matter

Committee Amendment Adopted

May 7, 2025

S. 256

Introduced 
by Senator Davis 

S. Printed 5/7/25--S.

Read the first time January 21, 2025

________

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE 
"SOUTH CAROLINA COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY AND RESILIENCE ACT" 
BY ADDING CHAPTER 39 TO TITLE 6 SO AS TO PROVIDE DEFINITIONS, CREATE AND 
ESTABLISH THE PROGRAM, PROVIDE FOR APPLICATION AND ADMINISTRATION, ESTABLISH A 
PROCESS FOR ASSESSING AND COLLECTING LIENS, PROVIDE FINANCING, AND TO DEVELOP 
STANDARDS, AMONG OTHER THINGS.

 Amend Title To Conform

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

SECTION 1. This act may be cited as the "Commercial Property Assessed Capital 
Expenditure Improvement Act."

SECTION 2. Title 6 of the S.C. Code is amended by adding:

CHAPTER 39

Commercial Property 
Assessed Capital Expenditure Improvement Programs

 Section 6-39-10. The purpose of this chapter is to authorize 
the establishment of commercial property assessed capital expenditure (C-PACE) programs that local 
governments may voluntarily implement to ensure that owners of agricultural, 
commercial, industrial, and multifamily residential properties can obtain low-cost, long-term financing for qualifying 
improvements by freely and willingly agreeing to have an assessment levied on 
their properties. The goals of this authorization are to increase economic 
development, add jobs, increase the resiliency to natural disaster of 
commercial properties, improve disaster and emergency response and at no costs 
to local governments, decrease utility costs and consumption, and encourage utility 
performance and water sustainability.

 Section 
6-39-20. For the purposes of this chapter:

 (1) 
"Assessment" means a non-ad valorem, special assessment against qualifying 
property levied by a local government pursuant to an assessment agreement.

 (2) 
"Assessment agreement" means a written agreement, in the form prescribed by 
each local government, between the applicable local government and the record 
owner setting forth the terms and conditions of the assessment.

 (3) 
"Capital provider" means any of the following:

 (a) 
a private entity that:

 (i) 
has a minimum net worth of five million dollars;

 (ii) 
has either at least three years' experience in commercial lending or an 
executive officer that has a least three years' experience in commercial 
lending; and

 (iii) 
has the ability directly or through a servicer to carry out the bookkeeping and 
customer service necessary to administer the assessment agreements;

 (b) 
a qualified institutional buyer, as defined in Rule 144A (17 C.F.R. 230.144A) 
of the federal Securities Act of 1933 (15 U.S.C. Section 77a, et seq.), as 
amended;

 (c) 
an accredited investor, as defined in Section 501(a)(1), (2), (3), and (7) of 
Regulation D (17 C.F.R. 230. 501(a)(1), (2), (3), and (7)) promulgated under 
the federal Securities Act of 1933 (15 U.S.C. Section 77a, et seq.), as 
amended;

 (d) 
a financial institution, as defined in 18 U.S.C Section 20, as amended;

 (e) 
an insurance company licensed under the laws of any state;

 (f) 
a trustee, custodian, or depositary of a trust or a custodial or depositary 
arrangement, as the case may be, which provides that beneficial ownership of 
interests in the trust or arrangement shall be restricted to persons described 
in items (a), (b), (c), (d), (e), and (g); and

 (g) 
a special purpose entity with respect to which the beneficial owners of equity 
interests or equity securities issued by the entity must be restricted to those 
persons described in items (a), (b), (c), (d), (e), and (f).

 (4) "C-PACE" means Commercial Property Assessed Capital 
Expenditure.

 (5) "C-PACE program" or "program" 
means a program of a local government established under this chapter to provide 
financing for qualified improvements within a C-PACE area.

 (6) 
"Electrical vehicle charging infrastructure" means any fixture, product, 
system, equipment, device, material, or interacting group intended for the 
installation or upgrade of electrical wiring, outlets, or charging stations to 
charge a motor vehicle that is fully or partially powered by electricity 
including, but not limited to, electrical wiring, outlets, or charging 
stations.

 (7) 
"Energy performance measure" means any fixture, equipment, device, product, 
system, material, or interacting group intended to decrease energy consumption 
or utility costs or enable a more efficient use of electricity, natural gas, 
propane, or other forms of energy on real property including, but