SC H3333

Expands the definition of "redevelopment project" under federal military installation redevelopment law to include affordable housing projects where tax increment financing (TIF) revenues support publicly or privately owned affordable housing or related infrastructure

Defines "affordable housing" as residential housing priced for individuals or families earning no more than 80% of the local area median income, based on HUD guidelines

Allows redevelopment projects outside the TIF district if the municipality makes specific findings of benefit to the redevelopment project area

Extends the deadline for issuing obligations from 15 years to 35 years after a municipality adopts an ordinance concurring in a redevelopment plan

Takes effect July 1, 2025