Encourages affordable student housing near South Carolina universities through financial incentives and streamlined approvals.

The University Housing Development and Incentive Act aims to boost affordable student housing near public universities in South Carolina. It establishes a student housing development zone within two miles of university campuses, where developers can access fast-tracked zoning, permitting, and tax incentives. Projects must undergo a rigorous approval process, including a housing needs assessment and alignment with state goals. Successful developers can receive property tax abatements and state income tax credits.

Encourages affordable student housing near South Carolina universities through financial incentives and streamlined approvals.

The University Housing Development and Incentive Act aims to boost affordable student housing near public universities in South Carolina. It establishes a student housing development zone within two miles of university campuses, where developers can access fast-tracked zoning, permitting, and tax incentives. Projects must undergo a rigorous approval process, including a housing needs assessment and alignment with state goals. Successful developers can receive property tax abatements and state income tax credits.