The bill H. 5112 aims to amend Section 12-37-3150 of the South Carolina Code of Laws, specifically regarding the assessment of property transfers. The proposed amendment introduces a new provision that excludes transfers made among related descendants of heirs' property from being classified as assessable transfers of interest. This means that if both the grantor and grantee had an ownership interest in the property prior to the transfer, such transactions will not trigger an assessment for tax purposes.

The bill is currently under consideration in the House Committee on Judiciary after being introduced on February 5, 2026. If enacted, the changes will take effect upon approval by the Governor, providing clarity and potential tax relief for families dealing with heirs' property transfers.

Statutes affected:
02/05/2026: 12-37-3150
Latest Version: 12-37-3150