Bill S. 206, introduced by Senator Massey, aims to amend the South Carolina Code of Laws by repealing the economic incentives established in Act 83 of 2019 for the Carolina Panthers practice facility in York County. The bill modifies various sections of the tax code, including the annual jobs tax credit provisions for sectors such as manufacturing, tourism, and professional sports teams. It clarifies the definition of "new job" for professional sports teams, allowing all jobs at a professional sports team park to qualify, regardless of prior employment at existing locations. Additionally, it specifies that no county license fee or tax may be levied on professional sports teams, reflecting a shift in legislative priorities regarding economic incentives.

Furthermore, the bill allows municipalities to impose a surtax on business licenses within designated downtown commercial areas to fund parking maintenance and development, capped at fifty percent of the current yearly business license tax. This surtax can only be enacted after a petition from at least two-thirds of the businesses in the area. The bill also includes several repeals of existing sections in the South Carolina Code, specifically Section 5-3-20, Sections 12-6-3360(O) and (P), SECTION 9(B) of Act 83 of 2019, and Section 12-10-120, aiming to streamline the legal framework surrounding business licensing and parking regulations. The act will take effect upon the Governor's approval.