The bill H. 5252 aims to amend the South Carolina Code of Laws regarding the Abandoned Buildings Revitalization Act. Key changes include clarifying that the existence of an income-producing use prior to abandonment is not a requirement for eligibility for tax credits. Additionally, it specifies that abandoned building tax credits cannot be used as collateral for any debt and removes the requirement for certain certifications of state-owned abandoned building sites. The bill also revises the definitions of "abandoned building," "building site," and "rehabilitation expenses," ensuring that the criteria for what constitutes an abandoned building and the associated expenses for rehabilitation are clearly defined.

Furthermore, the bill modifies the process for filing a Notice of Intent to Rehabilitate, stating that it must be filed before incurring rehabilitation expenses or obtaining a building permit. It allows for the transfer of tax credits associated with rehabilitation expenses to lessees or purchasers of the building site, provided the department is notified of such transfers. The bill is designed to facilitate the rehabilitation of abandoned buildings in South Carolina, thereby promoting economic development and revitalization of communities.

Statutes affected:
02/24/2026: 12-67-120, 12-67-130, 12-67-140, 12-67-160
Latest Version: 12-67-120, 12-67-130, 12-67-140, 12-67-160