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SC H5003
Bill
Status
Introduced
1/22/2026
Primary Sponsor
William Herbkersman
Click for details
AI Summary
- Amends Section 4-10-970 of the South Carolina Code regarding local option tourism development fee revenues
- Increases the minimum percentage of tourism development fee revenue that municipalities must allocate toward property tax credits from 20% to 50%
- Property tax credits apply specifically to owner-occupied residential properties classified under Section 12-43-220(c)
- Credit amount calculated by multiplying residence appraised value by a fraction based on total allocated revenue divided by total appraised value of qualifying properties as of January 1st
- Takes effect upon Governor's approval
Legislative Description
Tourism Development Fee
Last Action
Referred to Committee on Ways and Means
1/22/2026
Committee Referrals
Ways and Means1/22/2026
Full Bill Text
No bill text available