South Carolina · statute · S.C. Code tit. 12, ch. 65 · 7 active provisions
This chapter is known and may be cited as the "South Carolina Textiles Communities Revitalization Act". (A) The primary purpose of this chapter is to create an incentive for the rehabilitation, renovation, and redevelopment of abandoned textile mill sites located in South Carolina. (B) The abandonment of textile mills…
For the purposes of this chapter, unless the context requires otherwise: (1) "Abandoned" means that at least eighty percent of the textile mill has been closed continuously to business or otherwise nonoperational as a textile mill for a period of at least one year immediately preceding the date on which the taxpayer fi…
(A) Subject to the terms and conditions of this chapter, a taxpayer who rehabilitates a textile mill site is eligible for either: (1) a credit against real property taxes levied by local taxing entities; or (2) a credit against income taxes imposed pursuant to Chapter 6 and Chapter 11 of this title or corporate license…
With respect to a site acquired by a taxpayer after December 31, 2007, the area of the site is limited to the land located within the boundaries where the textile manufacturing facility structure is located and does not include land located outside the boundaries of the structure.
The provisions of Chapter 31, Title 6 also apply to this chapter; except that, the requirements of Section 6-31-40 do not apply.
(A) Entire textile mill sites placed in service on or before December 31, 2007, must be governed by the former provisions of Chapter 32, Title 6, in effect as of December 31, 2007. (B) The provisions of this chapter shall apply to all textile mill sites or portions thereof placed in service on or after January 1, 2008.…
The taxpayer may apply to the municipality or county in which the textile mill site is located for a certification of the textile mill site made by ordinance or binding resolution of the governing body of the municipality or county. The certification shall include findings that the: (1) textile mill site was a textile…