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 PROPERTY TAX EXEMPTIONS ON THE PRIMARY RESIDENCE OF INDIVIDUALS WHO HAVE REACHED AGE SEVENTY.

 

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 value of a property that qualifies as a legal residence pursuant to Section 12-43-220(c)(1) and is owned by an individual who has reached the age of seventy years on or before December thirty-first.

 

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

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