Bill > H4672

This bill amends South Carolina law to create a new exemption from impact fees for certain property purchases. Specifically, the exemption applies when someone buys a residential property that is assessed at a special 4% tax rate (typically reserved for primary residences) and the purchaser has claimed the same special assessment on another residence within the same school district for the previous 15 years. The exemption is limited to impact fees related to public facilities for kindergarten through 12th-grade schools. If an impact fee has already been paid by a qualifying purchaser, they are entitled to a refund. The bill would take effect immediately upon the Governor's approval, providing a targeted tax relief mechanism for long-term residents who are moving within the same school district while maintaining their primary residence status.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4672&session=126&summary=B