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TO AMEND SECTION 12-37-240, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PAYMENTS IN LIEU OF TAXES BY NONPROFIT HOUSING CORPORATIONS EXEMPT FROM AD VALOREM TAXATION, SO AS TO MAKE THESE PAYMENTS MANDATORY RATHER THAN VOLUNTARY AND TO INCLUDE A SCHOOL DISTRICT AS WELL AS A COUNTY AND MUNICIPALITY AS AN ENTITY TO WHICH THESE PAYMENT ARE REQUIRED; AND TO REPEAL SECTION 12-37-230 RELATING TO PAYMENT FOR PUBLIC SERVICES BY NONPROFIT HOUSING CORPORATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-240 of the 1976 Code is amended to read:
"Section 12-37-240. When any a nonprofit housing corporation owns property within a county, or municipality, or school district which is exempted from ad valorem taxes under an act of the General Assembly, the county, or municipality, or school district or both are authorized to contract with such shall require the corporation for to make payments in lieu of taxes for services rendered by the county, or municipality, or school district not to exceed fifty percent of the ad valorem taxes which would otherwise be due. These payments as set by the county, municipality, or school district are due and payable by the nonprofit housing corporation in the same manner ad valorem taxes are paid."
SECTION 2. Section 12-37-230 of the 1976 Code is repealed.
SECTION 3. This act takes effect upon approval by the Governor.
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