Indicates Matter Stricken

Indicates New Matter

 

Committee Amendment Adopted and Amended

February 11, 2026

 

S. 768

 

Introduced by Senators Peeler, Alexander, Kimbrell, Verdin, Massey, Hembree, Turner, Williams, Rice, Stubbs, Davis, Garrett, Campsen, Martin, Leber and Zell

 

S. Printed 2/11/26--S.

Read the first time January 13, 2026

 

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A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, RELATING TO THE HOMESTEAD EXEMPTION, SO AS TO INCREASE THE EXEMPTION TO ONE HUNDRED THOUSAND DOLLARS AND TO REDUCE THE AGE ELIGIBILITY TO SIXTY; BY AMENDING SECTION 12-37-266, RELATING TO THE HOMESTEAD EXEMPTION, SO AS TO MAKE A CONFORMING CHANGE; BY AMENDING SECTION 12-37-280, RELATING TO THE HOMESTEAD EXEMPTION, SO AS TO MAKE A CONFORMING CHANGE; BY AMENDING SECTION 12-37-290, RELATING TO THE HOMESTEAD EXEMPTION, so as to make a conforming change; BY AMENDING SECTION 12-37-220, RELATING TO GENERAL EXEMPTION FROM TAXES, SO AS TO MAKE A CONFORMING CHANGE; BY AMENDING SECTION 11-11-150, RELATING TO DEDUCTIONS FOR THE TRUST FUND FOR TAX RELIEF, SO AS TO MAKE A CONFORMING CHANGE; AND BY REPEALING SECTION 12-37-245 RELATING TO THE HOMESTEAD EXEMPTION.

    Amend Title To Conform

 

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

 

SECTION 1.  Article 3, Chapter 37, Title 12 of the S.C. Code is amended by adding:

 

    Section 12-37-253. (A) Any eligible person may claim an exemption from county, municipal, school, and special assessment real property equal to one hundred fifty thousand dollars of the fair market value on the person's dwelling place. A person may not claim this exemption and the exemption set forth in Section 12-37-250 and a person must be eligible for this exemption to claim the exemption set forth in Section 12-37-250. For purposes of eligibility, application, and reimbursement, this exemption must be administered in the same manner as the exemption allowed pursuant to Section 12-37-250, including the application of other laws affecting the exemption allowed pursuant to Section 12-37-250, mutatis mutandis. For a person eligible for this exemption pursuant to subsection (B)(1), the previous application for the exemption allowed pursuant to Section 12-37-250 must be considered the application for this exemption.

    (B) A person becomes eligible for this additional exemption:

       (1) if the person was eligible to claim the exemption pursuant to Section 12-37-250 in Property Tax Year 2025 and remains eligible thereafter; or

       (2)(a) when the person meets the requirements of Section 12-37-250(A)(1)(i), (ii), or (iii); and

           (b) when the person has been a resident of this State for the entire five property tax years immediately preceding the application.

    (C) By ordinance, a governing body of a county may increase the exemption allowed by this section, however, any taxes not collected as a result of the increase in the exemption are not eligible for reimbursement.

 

SECTION 2.  Section 11-11-150(A) of the S.C. Code is amended by adding:

 

    (6) Section 12-37-270 for the homestead exemption allowed pursuant to Section 12-37-253;

 

SECTION 3.  Section 12-37-245 of the S.C. Code is repealed.

 

SECTION 4.  If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, such holding shall not affect the constitutionality or validity of the remaining portions of this act, the General Assembly hereby declaring that it would have passed this act, and each and every section, subsection, paragraph, subparagraph, sentence, clause, phrase, and word thereof, irrespective of the fact that any one or more other sections, subsections, paragraphs, subparagraphs, sentences, clauses, phrases, or words hereof may be declared to be unconstitutional, invalid, or otherwise ineffective.

 

SECTION 5.  This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2025.

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