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 CERTAIN PROPERTY TAX EXEMPTIONS FOR INDIVIDUALS OVER THE AGE OF SIXTY-FIVE.

 

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 seventy years on or before December thirty-first, eighty percent of the fair market value of the primary residence of an individual who has reached the age of sixty-nine years on or before December thirty-first, sixty percent of the fair market value of the primary residence of an individual who has reached the age of sixty-eight years on or before December thirty-first, forty percent of the fair market value of a primary residence of an individual who has reached the age of sixty-seven years on or before December thirty-first, and twenty percent of the fair market value of the primary residence of an individual who has reached the age of sixty-six years on or before December thirty-first.

 

SECTION 2.  This act takes effect upon approval by the Governor.

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