The bill H. 4672 proposes an amendment to Section 6-1-970 of the South Carolina Code of Laws, specifically regarding exemptions from impact fees. The new provision will exempt the purchase of residential structures assessed at a four percent tax rate if the purchaser has owned another similar residence within the same school district for the previous fifteen years. This exemption is applicable only to impact fees charged for public facilities serving grades K-12, and purchasers who qualify for this exemption will be entitled to a refund of any impact fees already paid.

The bill aims to provide financial relief to long-term residents who are purchasing new homes within the same school district, thereby encouraging stability and investment in local communities. The proposed changes will take effect upon approval by the Governor.

Statutes affected:
12/17/2025: 6-1-970
Latest Version: 6-1-970