South Carolina H 4926: Constitutional Amendment

Bill Text

2025-2026 Bill 4926 Text of Previous Version (Jan. 14, 2026) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 4926

Indicates Matter Stricken
Indicates New Matter

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

A joint Resolution

PROPOSING AN AMENDMENT TO SECTION 3, 
ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, RELATING TO PROPERTY EXEMPT 
FROM AD VALOREM TAXATION, SO AS TO EXEMPT BUSINESS PERSONAL PROPERTY.

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

SECTION 1. It is proposed that Section 3, 
Article X of the Constitution of this State be amended to read:

 Section 
3. There shall be exempt from ad valorem taxation:

 (a) all property of the State, counties, 
municipalities, school districts and other political subdivisions, if the 
property is used exclusively for public purposes;

 (b) all property of all schools, 
colleges and other institutions of learning and all charitable institutions in 
the nature of hospitals and institutions caring for the infirmed, the 
handicapped, the aged, children and indigent persons, except where the profits 
of such institutions are applied to private use;

 (c) all property of all public 
libraries, churches, parsonages and burying grounds;

 (d) all property of all charitable 
trusts and foundations used exclusively for charitable and public purposes;

 (e) all household goods and furniture 
used in the home of the owner of such goods and furniture, but this exemption 
shall not apply to household goods used in hotels, rooming houses, apartments 
or other places of business;

 (f) all inventories of manufactures, 
except manufactured articles which have been offered for sale at retail or 
which have been available for sale at retail;

 (g) all new manufacturing establishments 
located in any of the counties of this State after July 1, 1977, for five years 
from the time of establishment and all additions to the existing manufacturing 
establishments located in any of the counties of this State for five years from 
the time each of these additions is made if the cost of the addition is fifty 
thousand dollars or more. The additions shall include additional machinery and 
equipment installed in the plant. The exemptions authorized in this item for 
manufacturing establishments, and additions to those manufacturing 
establishments, do not include exemptions from school taxes or municipal taxes 
but include only county taxes. All manufacturing establishments and all 
additions to existing manufacturing establishments exempt under existing 
statutes are allowed their exemptions provided for by statute until the 
exemptions expire. Municipal governing bodies may by ordinance exempt from 
municipal ad valorem taxation for not more than five years all new manufacturing 
establishments located in any of the municipalities of this State after July 1, 
1985, and all additions to the existing manufacturing establishments, including 
additional machinery and equipment, located in any of the municipalities of 
this State costing fifty thousand dollars or more made after July 1, 1985. 
Exemptions from municipal taxation granted pursuant to this item may not result 
in any refund of taxes;

 The 
governing body of a municipality may by ordinance exempt from municipal ad 
valorem taxation for not more than five years:

 (1) all new corporate headquarters, 
corporate office facilities, distribution facilities located in the 
municipality, and additions to such facilities; and

 (2) all facilities of new enterprises 
engaged in research and development activities located in the municipality, and 
additions to such facilities.

 The 
exemptions allowed pursuant to this paragraph are subject to those terms and 
conditions that the General Assembly may provide by law.

 (h) all facilities or equipment of 
industrial plants which are designed for the elimination, mitigation, 
prevention, treatment, abatement or control of water, air or noise pollution;

 (i) a homestead exemption for persons 
sixty-five years of age and older, for persons permanently and totally disabled 
and for blind persons in the amount of ten thousand dollars of the fair market 
value of the homestead under conditions prescribed by the General Assembly by 
general law; provided, that the amount may be increased by the General Assembly 
by general law, passed by a majority vote of both houses;

 (j) intangible personal property.;

 (k) business personal property.

 The 
exemptions provided in subitems (c) and (d) for real property shall not extend 
beyond the buildings and premises actually occupied by the owners of such real 
property. Homestead exemptions from ad valorem taxation not specifically 
provided for in this section may be provided for by the General Assembly by 
general law. In addition to the exemptions listed in this section, the General 
Assembly may provide for exempti