Bill > S0710

This bill amends Section 6-1-320 of the South Carolina Code of Laws to allow municipalities without an operating millage (a property tax rate) as of January 1, 2021, or municipalities that incorporate after that date, to impose an operating millage up to an amount sufficient to generate one-third of the municipality's previous fiscal year general fund expenses. The bill also allows municipalities that previously had an operating millage but repealed it to reimpose a millage up to their previous rate plus cumulative increases that would have been allowed since 2007 or the repeal, whichever is most recent. After the initial imposition, the millage rate is subject to the existing limitations on increases.