H 4008

Abstract

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 6-1-175 SO AS TO AUTHORIZE THE GOVERNING BODY OF A COUNTY OR MUNICIPALITY TO IMPOSE A ONE-TIME IMPACT FEE ON PRIVATE DEVELOPERS FOR EACH NEW RESIDENTIAL AND COMMERCIAL UNIT CONSTRUCTED BY THE DEVELOPER WITHIN THE COUNTY OR MUNICIPALITY, TO PROVIDE THAT THE FUNDS MAY BE USED ONLY TO FUND THE SOUTH CAROLINA GENTRIFICATION TRUST FUND, AND TO PROVIDE THAT DEVELOPERS WHO DEDICATE AT LEAST FIFTEEN PERCENT OF THE HOUSING DEVELOPMENT TO LOW-INCOME HOUSING ARE EXEMPT FROM THE IMPACT FEE; BY ADDING SECTION 11-11-250 SO AS TO CREATE THE "SOUTH CAROLINA GENTRIFICATION TRUST FUND" TO PROVIDE FINANCIAL ASSISTANCE FOR RELOCATION TO LOW-INCOME AND FIXED-INCOME INDIVIDUALS, CHURCHES, AND GROUPS ADVERSELY IMPACTED AND DISPLACED BY GENTRIFICATION, AND TO PROVIDE THAT EACH YEAR THE GENERAL ASSEMBLY SHALL APPROPRIATE FIVE MILLION DOLLARS; AND BY AMENDING SECTION 12-6-5060, RELATING TO VOLUNTARY CONTRIBUTIONS MADE BY INDIVIDUALS BY MEANS OF THE INCOME TAX RETURN CHECK OFF, SO AS TO ADD THE "SOUTH CAROLINA GENTRIFICATION TRUST FUND."