SC H4008

Authorizes counties and municipalities to impose a one-time impact fee of at least 6% on private developers for each new residential and commercial unit constructed, with fees due before or at certificate of occupancy issuance

Creates the "South Carolina Gentrification Trust Fund" to provide financial assistance for relocation to low-income and fixed-income individuals, churches, and groups displaced by gentrification

Requires the General Assembly to appropriate $5 million annually to the fund beginning in Fiscal Year 2025-2026, with additional funding from impact fees, donations, grants, and income tax return contributions

Exempts developers from the impact fee if they dedicate at least 15% of a housing development to low-income housing, which must remain designated as low-income for 100 years

Adds the South Carolina Gentrification Trust Fund to the list of charitable funds available for voluntary contributions on state income tax returns