South Carolina H3467 allows school districts to develop affordable housing on surplus land, exempt from property taxes for 40 years.

South Carolina H3467 amends the state code to authorize school districts to use surplus land for affordable housing projects. These projects must include a minimum of ten units and are exempt from property taxes for forty years. Teachers and school employees have the right of first refusal to lease these units. The school district can partner with developers, who can sell their interest but must adhere to the same lease terms. Upon lease expiration, the land reverts to the school district.

South Carolina H3467 allows school districts to develop affordable housing on surplus land, exempt from property taxes for 40 years.

South Carolina H3467 amends the state code to authorize school districts to use surplus land for affordable housing projects. These projects must include a minimum of ten units and are exempt from property taxes for forty years. Teachers and school employees have the right of first refusal to lease these units. The school district can partner with developers, who can sell their interest but must adhere to the same lease terms. Upon lease expiration, the land reverts to the school district.