South Carolina S 151: Unemployment Insurance Eligibility Period

Bill Text

2025-2026 Bill 151 Text of Previous Version (Dec. 11, 2024) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 151

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 
12-37-221 SO AS TO PROVIDE THAT THE FIRST THIRTY THOUSAND DOLLARS OF THE FAIR 
MARKET VALUE OF A SMALL BUSINESS IS EXEMPT FROM COUNTY, MUNICIPAL, SCHOOL, AND 
SPECIAL ASSESSMENT REAL ESTATE PROPERTY TAXES.

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

SECTION 1. Chapter 37, Title 12 of the S.C. Code is amended by 
adding:

 Section 
12-37-221. (A) For the purposes of 
this section, "small business" means a commercial retail service, industry 
entity, or nonprofit corporation, including affiliates, that:

 (1) 
is registered, incorporated, and headquartered in this State;

 (2) 
the business' ownership is comprised of residents of this State who pay income 
taxes in this State;

 (3) 
is independently owned and operated; and

 (4) 
employs fewer than one hundred full-time employees or has gross annual sales or 
program service revenues of less than ten million dollars.

 (B) 
In addition to the exemptions provided in Section 12-37-220(A) and (B), the 
first thirty thousand dollars of the fair market value of a small business is 
exempt from county, municipal, school, and special assessment real estate 
property taxes.

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

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This web page was last updated on December 11, 2024 at 04:44 PM