South Carolina H3496 requires counties to consult with other taxing entities before entering into fee in lieu of property tax agreements and mandates.
South Carolina H3496 amends the state code to require counties to consult with other affected taxing entities before entering into fee in lieu of property tax agreements. The county must provide revenue projections and calculations for each entity. Each year, the county must report the total revenue generated, the amount distributed to each entity, and the calculation method. If a county fails to distribute the correct amount to an affected taxing entity, the State Treasurer must withhold the county's State Aid to Subdivisions Act distribution until the correct amount is disbursed.
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