The bill S. 102 proposes amendments to Section 6-1-320 of the South Carolina Code of Laws, specifically addressing millage rate increase limitations for municipalities. It allows municipalities that do not have an operating millage as of January 1, 2025, or those that incorporate after this date, to impose an operating millage. This millage can be set to generate up to one-third of the municipality's general fund expenses from the previous fiscal year. Additionally, municipalities that previously had an operating millage but repealed it can reimpose a millage equal to their last rate, adjusted for cumulative increases allowed since 2007 or since the repeal, whichever is more recent.

Furthermore, the bill stipulates that once the operating millage is imposed, it will be subject to the existing limitations on increases outlined in the law. This amendment aims to provide new municipalities with the ability to establish necessary funding mechanisms while also allowing those that have previously repealed their millage to reinstate it under specific conditions. The act will take effect upon approval by the Governor.

Statutes affected:
12/11/2024: 6-1-320
04/29/2025: 6-1-320
05/01/2025: 6-1-320
Latest Version: 6-1-320