South Carolina Housing Development Revenue Enhancement Act enables housing authorities to use TIF districts for affordable housing.

The South Carolina Housing Development Revenue Enhancement Act allows housing authorities to establish Tax Increment Financing (TIF) districts for affordable housing projects. These districts can generate incremental tax revenues for construction, renovation, and infrastructure improvements. Housing authorities can also impose impact fees on new developments and establish local housing trust funds. Project-generated revenues can serve as a secondary source of repayment for bonds. The act encourages public-private partnerships and requires annual reporting on fund usage and project progress.

South Carolina Housing Development Revenue Enhancement Act enables housing authorities to use TIF districts for affordable housing.

The South Carolina Housing Development Revenue Enhancement Act allows housing authorities to establish Tax Increment Financing (TIF) districts for affordable housing projects. These districts can generate incremental tax revenues for construction, renovation, and infrastructure improvements. Housing authorities can also impose impact fees on new developments and establish local housing trust funds. Project-generated revenues can serve as a secondary source of repayment for bonds. The act encourages public-private partnerships and requires annual reporting on fund usage and project progress.