The bill H. 3853 proposes amendments to the South Carolina Code of Laws regarding redevelopment fees. Specifically, it seeks to amend Section 12-10-88 by removing the annual maximum limit on the redevelopment fees that can be remitted by the Department of Revenue to the applicable redevelopment authority. Additionally, the bill eliminates a sunset provision that previously limited the duration of these fees. Furthermore, it modifies Act 356 of 2002 by deleting a requirement for the sharing of certain revenue related to the Charleston Naval Complex Redevelopment Authority.

The changes aim to streamline the process for remitting redevelopment fees and ensure that redevelopment authorities can receive these funds without the constraints of an annual cap or a sunset clause. The bill also clarifies the definition of "closed or realigned federal installation" and outlines the conditions under which redevelopment fees are to be remitted, emphasizing the importance of timely reporting by federal employers. Overall, the bill is designed to enhance the financial support for redevelopment efforts in South Carolina.

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