SC H5112

Excludes transfers of heirs' property from triggering an assessable transfer of interest when the transfer occurs between related descendants who both already owned an interest in the property prior to the transfer

Amends Section 12-37-3150(B) of the South Carolina Code by adding a new subsection (16) specifically addressing heirs' property transfers

Prevents property tax reassessment when heirs' property ownership is consolidated among family members who are already co-owners

Takes effect upon approval by the Governor