summary
Introduced
03/29/2023
03/29/2023
In Committee
03/29/2023
03/29/2023
Crossed Over
Passed
Dead
05/09/2024
05/09/2024
Introduced Session
125th General Assembly
Bill Summary
A bill TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-43-220, RELATING TO ROLLBACK TAXES, SO AS TO PROVIDE THAT ROLLBACK TAXES ONLY APPLY TO THE PREVIOUS TAX YEAR INSTEAD OF THE PREVIOUS THREE TAX YEARS.
AI Summary
This bill proposes to amend the South Carolina Code of Laws by changing the rollback tax provision. Specifically, it would reduce the number of previous tax years for which rollback taxes apply from three years to one year. Rollback taxes are additional taxes charged when real property that is valued and assessed for agricultural use is instead used for a non-agricultural purpose. This change would limit the rollback tax burden on property owners who convert their land to a different use.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Committee on Ways and Means (on 03/29/2023)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=4214&session=125&summary=B |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/4214_20230329.htm |
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