A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE FOR AN EXEMPTION FOR THE PRIMARY RESIDENCE OF CERTAIN INDIVIDUALS WHO ARE OVER SIXTY-FIVE OR ARE FULLY DISABLED VETERANS AND WHOSE PRIMARY RESIDENCE IS NOT ENCUMBERED WITH A MORTGAGE LIEN.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 12-37-220(B) of the S.C. Code is amended by adding:

 

    (54) to the extent not already exempt pursuant to Section 12-37-250, one hundred percent of the fair market value of the primary residence of an individual who has reached the age of sixty-five years on or before December thirty-first or is a fully disabled veteran if that primary residence is not encumbered with a mortgage lien.

 

SECTION 2.  This act takes effect upon approval by the Governor and first applies to property tax years after 2025.

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