Home/South Carolina/Statutes/Title 12: TAXATION/Ch. 44: FEE IN LIEU OF TAX SIMPLIFICATION ACT/§ 12-44-70
South Carolina Statutes

§ 12-44-70 — Use of revenues.

South Carolina·Title 12 TAXATION·Ch. 44 FEE IN LIEU OF TAX SIMPLIFICATION ACT
A county, municipality, or special purpose district that receives and retains revenues from a payment in lieu of taxes may use a portion of the revenues for the purposes outlined in Section 4-29-68 without the requirements of issuing special source revenue bonds or complying with Section 4-29-68(A)(4) by providing a credit against or payment derived from the fee due from a sponsor.

Free access — add to your briefcase to read the full text and ask questions with AI

South Carolina § 12-44-70 (Use of revenues.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1997 Act No. 149, SECTION 1; 2003 Act No. 69, SECTION 3.AAA.1, eff January 1, 2003; 2007 Act No. 116, SECTION 7.G, eff June 28, 2007.

Nearby Sections

15
§ 12-44-10
Short title.
§ 12-44-100
Sponsor committed to enhanced investment to continue to benefit from this chapter despite failure to make required investment where minimum investment met; assessment ratio.
§ 12-44-110
Property previously subject to state property taxes not qualified to be economic development property; exceptions.
§ 12-44-120
Transfers of interest in fee agreement and economic development property; sale-leaseback arrangement; requirements.
§ 12-44-130
Minimum investment to qualify for fee; notice to department of all sponsors or sponsor affiliates with investments subject to fee.
§ 12-44-140
Termination of fee agreement; automatic termination; minimum level of investment required to remain qualified for fee.
§ 12-44-150
Projects to be taxable property at level of negotiated payments for purposes of bonded indebtedness and for computing index of taxpaying ability.
§ 12-44-160
Transfer of title; qualification for a fee in lieu of taxes.
§ 12-44-170
Economic development property; transfer of property to fee arrangement provided for by this chapter.
§ 12-44-20
Legislative findings.
§ 12-44-30
Definitions.
§ 12-44-40
Fee agreement; economic development property to be exempt from ad valorem taxation; exemption period; inducement resolution; location of exempt property; criteria to qualify as economic development property.
§ 12-44-50
Contents of fee agreement; disposal of economic development property; reduction of fee.
§ 12-44-55
Agreements; content requirements.
§ 12-44-60
Replacement property; qualifications and conditions.
View on official source ↗