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TO AMEND CHAPTER 43, TITLE 12 OF THE 1976 CODE BY ADDING SECTION 12-43-355, TO REQUIRE AFFECTED POLITICAL SUBDIVISIONS TO ESTABLISH A METHOD TO ALLOW TAXPAYERS TO MAKE QUARTERLY PAYMENTS TOWARD REAL PROPERTY TAXES AND TO ESTABLISH A PAYMENT SCHEDULE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 43, Title 12 of the 1976 Code is amended by adding:
"Section 12-43-355. Affected political subdivisions must establish a method to allow each taxpayer to make quarterly payments toward real property taxes. The schedule for each payment must set no early than December 31st for the first payment, April 1st for the second payment, July 1st for the third payment, and October 1st for the final payment. Affected political subdivisions may provide a reasonable reduction in the total amount due as an incentive to pay the tax in one lump sum before January 31st."
SECTION 2. This act takes effect upon approval by the Governor.
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