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S. 436
STATUS INFORMATION
General Bill
Sponsors: Senators Grooms, Fernandez and Leber
Document Path: SR-0266KM25.docx
Introduced in the Senate on March 11, 2025
Introduced in the House on April 30, 2026
Last Amended on April 28, 2026
Passed by the General Assembly on May 13, 2026
Summary: Aircraft
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 3/11/2025 | Senate | Introduced and read first time (Senate Journal-page 8) |
| 3/11/2025 | Senate | Referred to Committee on Finance (Senate Journal-page 8) |
| 4/15/2026 | Senate | Committee report: Favorable with amendment Finance (Senate Journal-page 43) |
| 4/28/2026 | Senate | Committee Amendment Adopted (Senate Journal-page 42) |
| 4/28/2026 | Senate | Read second time (Senate Journal-page 42) |
| 4/28/2026 | Senate | Roll call Ayes-42 Nays-2 (Senate Journal-page 42) |
| 4/29/2026 | Senate | Read third time and sent to House (Senate Journal-page 31) |
| 4/30/2026 | House | Introduced and read first time (House Journal-page 154) |
| 4/30/2026 | House | Referred to Committee on Ways and Means (House Journal-page 154) |
| 5/6/2026 | House | Committee report: Favorable Ways and Means (House Journal-page 10) |
| 5/7/2026 | House | Debate adjourned (House Journal-page 27) |
| 5/12/2026 | House | Read second time (House Journal-page 76) |
| 5/12/2026 | House | Roll call Yeas-111 Nays-0 (House Journal-page 77) |
| 5/13/2026 | House | Concurred in Senate amendment and enrolled (House Journal-page 22) |
| 5/14/2026 | Ratified R 136 | |
| 5/18/2026 | Signed By Governor |
View the latest legislative information at the website
VERSIONS OF THIS BILL
3/11/2025
4/15/2026
4/28/2026
5/6/2026
(R136, S436)
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-43-220, RELATING TO ASSESSMENT RATIOS, SO AS TO PROVIDE THAT FEE IN LIEU OF TAX AGREEMENTS MAY INCLUDE CERTAIN COMMERCIAL AIRCRAFT.
Be it enacted by the General Assembly of the State of South Carolina:
Taxation of commercial aircraft
SECTION 1. Section 12-43-220(g) of the S.C. Code is amended to read:
(g) All real and personal property owned by or leased to companies primarily engaged in the transportation for hire of persons or property and used by such companies in the conduct of such business and required by law to be assessed by the department shall be taxed on an assessment equal to nine and one-half percent of the fair market value of such property. Notwithstanding this provision, until June 30, 2027, fee in lieu of tax agreements may include commercial aircraft as part of a qualifying project in support of economic development, subject to all other statutory requirements for fee in lieu of tax agreements, as approved by the Coordinating Council for Economic Development.
The department shall apply an equalization factor to real and personal property owned by or leased to transportation companies for hire as mandated by federal legislation.
Notwithstanding any other provision of this article, on June 3, 1975, if it is found that there is a variation between the ratios being used and those stated in this section, the county may provide for a gradual transition to the ratios as herein provided for over a period not to exceed seven years; provided, however, that all property within a particular classification shall be assessed at the same ratio, provided, further, however, that all property enumerated in subsection (a) shall be assessed at the ratio provided in such subsection and the property enumerated in subsections (b), (c), (d), (e), (f), and (g) shall be increased or decreased to the ratios set forth in this article by a change in the ratio of not less than one-half of one percent per year nor more than one percent per year. Provided, however, that notwithstanding the provisions of this section, a county may, at its discretion, immediately implement the assessment ratios contained in subsections (b), (c), (d), (e), and (f). Provided, however, that livestock shall not be subject to ad valorem taxation unless such livestock is physically located within the State for a period in excess of nine months. Provided, that this section shall not apply to farm animals and farm equipment in use on a farm in those counties which do not tax such property as of June 3, 1975.
Provided, however, all agricultural or forest land within easements granted to public bodies, agencies, railroads, or utilities for rights of way of thirty feet in width or greater shall be assessed at the same cropland value per acre as soil class 7 in schedule 1 of R 117-126 of the State Department of Revenue. In order to receive such assessment the landowner must apply to the tax assessor of the county where the easement is located, with documentation of the existence, location, and amount of acreage contained in the easement.
As used in this section, fair market value with reference to real property means fair market value determined in the manner provided pursuant to Article X of the Constitution of this State, Section 12-37-930 and Article 25, Chapter 37 of this title.
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Ratified the 14th day of May, 2026.
Approved the _____________ day of _________________________________________2026.
This web page was last updated on May 14, 2026 at 8:28 PM