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TO EXTEND THE DEVELOPERS' MAXIMUM FIVE YEAR MULTIPLE SUBDIVISION LOT PROPERTY TAX DISCOUNT THROUGH PROPERTY TAX YEAR 2015 FOR THOSE LOTS ON WHICH THE DISCOUNT EXPIRES WITH PROPERTY TAX YEARS 2010 THROUGH 2014.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The maximum five year property tax discount allowed developers for multiple lots in subdivisions pursuant to Sections 12-43-224 and 12-43-225 of the 1976 Code is extended through property tax year 2015 for lots in the fifth and final year of the discounts in property tax years 2010 through 2014. The same terms and conditions for the discount provided pursuant to the referenced code sections apply during the extension.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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