The bill H. 3853 proposes amendments to the South Carolina Code of Laws, specifically targeting Section 12-10-88, which pertains to redevelopment fees remitted by the Department of Revenue. The key changes include the removal of an annual maximum limit on the redevelopment fees and the elimination of a sunset provision that previously governed these fees. Additionally, the bill amends Act 356 of 2002 by deleting a provision that required the sharing of certain revenue, thereby streamlining the financial processes related to redevelopment authorities overseeing closed or realigned federal installations.

The bill aims to enhance the financial support for redevelopment authorities by ensuring a more consistent flow of funds without the constraints of maximum limits or sunset clauses. This legislative change is intended to facilitate the economic revitalization of areas affected by the closure or realignment of federal installations, ultimately benefiting local communities and economies. The act will take effect upon approval by the Governor.

Statutes affected:
01/30/2025: 12-10-88
Latest Version: 12-10-88