Indicates Matter Stricken

Indicates New Matter

 

Amended

February 18, 2026

 

S. 768

 

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

 

S. Printed 2/18/26--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 an amount of the fair market value on the person's dwelling place as set forth in subsection (C). 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;

       (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; or

       (3)(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 ten property tax years immediately preceding the application.

    (C) A person who qualifies for this exemption pursuant to item (B)(1) or (B)(3) qualifies for a one hundred fifty thousand dollar exemption.  A person who qualifies for this exemption pursuant to item (B)(2) qualifies for a seventy-five thousand dollar exemption. The exemption amounts set forth in this subsection are not cumulative and may not be combined.

    (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.  Chapter 45, Title 12 of the S.C. Code is amended by adding:

 

    Section 12-45-72.  In addition to the requirements provided in Section 12-60-2510, a property tax notice or assessment must include an itemized list of any homestead exemption received by the taxpayer and a notation of State Legislature Aiding in Saving Homes (SLASH), the amount in which the individual's property tax bill was reduced, and the amount, if any, in which the State reimbursed the local taxing authorities on behalf of the individual.

 

SECTION 5.  If any section, subsection, paragraph, subparagraph, sentence, clause, phrase, or word of this act is for any reason held to be unconstitutional or invalid, the General Assembly hereby declares that it would not have passed this act,  without the  sections, subsections, paragraphs, subparagraphs, sentences, clauses, phrases, or words  declared to be unconstitutional, invalid, or otherwise ineffective.

 

SECTION 6.  This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2025.

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