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TO AMEND SECTION 6-1-320, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE LIMIT ON PROPERTY TAX MILLAGE INCREASES, SO AS TO PROVIDE FOR A MILLAGE RATE LIMITATION TO PURCHASE RESIDENTIAL DEVELOPMENT RIGHTS IN UNDEVELOPED PROPERTY NEAR MILITARY INSTALLATIONS TO PREVENT ADDITIONAL RESIDENTIAL DEVELOPMENT NEAR THOSE MILITARY INSTALLATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 6-1-320(B) of the 1976 Code, as amended by Act 388 of 2006, is further amended by adding:
"(6) purchase by the local governing body of residential development rights in undeveloped real property near military installations which property has been identified as suitable for residential development but which residential development would constitute undesirable residential encroachment upon the installation as determined by the local governing body."
SECTION 2. This act takes effect upon approval by the Governor.
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