The bill S. 102 amends Section 6-1-320 of the South Carolina Code of Laws, which pertains to limitations on millage rate increases. It introduces provisions that allow municipalities without an operating millage as of January 1, 2025, or those that incorporate after this date, to impose an operating millage. Specifically, these municipalities can set a millage rate sufficient to cover one-third of their general fund expenses from the previous fiscal year. Additionally, municipalities that previously had an operating millage but repealed it can reimpose a millage rate equivalent to their last rate, adjusted for cumulative increases allowed since 2007 or since the repeal, whichever is more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 change aims to provide new municipalities with the ability to generate necessary revenue while also allowing those that have previously repealed their millage to reinstate it under specific conditions.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