SC S0853

Amends the Abandoned Buildings Revitalization Act to clarify that buildings qualify as "abandoned" if unoccupied for five years, removing the prior requirement that the building must have previously been used for income-producing purposes.

Requires taxpayers to file a Notice of Intent to Rehabilitate before obtaining a building permit, rather than before incurring rehabilitation expenses; expenses incurred before filing only qualify after notice is provided.

Prohibits abandoned building tax credits from being pledged, assigned, or used as collateral for any debt.

Allows tax credits to be transferred to purchasers or transferees when a building site is sold or transferred, in addition to existing provisions for lessees.

Removes the separate certification process and definition for "state-owned abandoned buildings," consolidating them under the general abandoned building provisions.