South Carolina H 3496: Property Tax

Bill Text

2025-2026 Bill 3496 Text of Previous Version (Dec. 06, 2024) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 3496

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 ADDING SECTION 
4-1-190 SO AS TO REQUIRE A COUNTY TO CONSULT WITH OTHER AFFECTED TAXING 
ENTITIES BEFORE ENTERING INTO A FEE IN LIEU OF PROPERTY TAXES AGREEMENT, TO 
REQUIRE THE COUNTY TO ISSUE AN ANNUAL REPORT DETAILING DISTRIBUTIONS, AND TO 
REQUIRE THE STATE TREASURER TO WITHHOLD CERTAIN FUNDS FROM THE COUNTY IF THE 
PROPERTY DISTRIBUTIONS ARE NOT DISBURSED.

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

SECTION 1. Chapter 1, Title 4 of the S.C. Code is amended by 
adding:

 Section 
4-1-190. (A) Before a county enters 
into a fee in lieu of property taxes agreement, the county must consult with 
the other affected taxing entities regarding the effects of the agreement on 
the other entities. The county must provide projections for the amount of revenue 
expected to be distributed to each entity each year from the agreement, and the 
method by which the projections were calculated.

 (B) Each 
year a fee in lieu of property taxes agreement is in effect, the county shall 
provide a report to the other affected taxing entities of the total amount of 
revenue generated from the agreement, the amount of revenue distributed to each 
taxing entity, and the calculation used to determine each distribution.

 (C) In 
any year in which the county fails to distribute an affected taxing entity its 
correct distribution as provided by law, the Office of the State Treasurer 
shall withhold the county's State Aid to 
Subdivisions Act distribution until the correct amount is distributed.

SECTION 2. This act takes effect upon approval 
by the Governor.

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This web page was last updated on December 06, 2024 at 12:18 PM