South CarolinaS 0436126th General Assembly (2025-2026)Senate

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-43-220, RELATING TO ASSESSMENT RATIOS, SO AS TO PROVIDE THAT FEE IN LIEU OF TAX AGREEMENTS MAY INCLUDE CERTAIN COMMERCIAL AIRCRAFT.

Sponsored By: Lawrence K. "Larry" Grooms (Republican)

Signed by Governor

Summary

Aircraft

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Lower property taxes on aircraft for businesses

Businesses can include commercial aircraft in a fee‑in‑lieu of tax agreement. This type of deal replaces normal property tax with a set fee. The project must support economic development, meet all other fee‑in‑lieu rules, and be approved by the Coordinating Council for Economic Development. This rule takes effect on May 18, 2026, and ends after June 30, 2027. Including aircraft in the deal can reduce local tax costs for the business.

Sponsors & Cosponsors

Sponsor

  • Lawrence K. "Larry" Grooms

    Republican • Senate

Cosponsors

  • Tom Fernandez

    Republican • Senate

  • Matthew W. "Matt" Leber

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 153 • No: 2

House vote • 5/12/2026

(Taxation of commercial aircraft)Passage of Bill

Yes: 111 • No: 0

Senate vote • 4/28/2026

(Taxation of commercial aircraft)2nd Reading

Yes: 42 • No: 2

Actions Timeline

  1. Act No. 165

    5/27/2026legislature
  2. Effective date 05/18/26

    5/27/2026legislature
  3. Signed By Governor

    5/18/2026Governor
  4. Ratified R 136

    5/14/2026legislature
  5. Concurred in Senate amendment and enrolled

    5/13/2026House
  6. Roll call Yeas-111 Nays-0

    5/12/2026House
  7. Read second time

    5/12/2026House
  8. Debate adjourned

    5/7/2026House
  9. Committee report: Favorable Ways and Means

    5/6/2026House
  10. Referred to Committee on Ways and Means

    4/30/2026House
  11. Introduced and read first time

    4/30/2026House
  12. Read third time and sent to House

    4/29/2026Senate
  13. Roll call Ayes-42 Nays-2

    4/28/2026Senate
  14. Read second time

    4/28/2026Senate
  15. Committee Amendment Adopted

    4/28/2026Senate
  16. Committee report: Favorable with amendment Finance

    4/15/2026Senate
  17. Referred to Committee on Finance

    3/11/2025Senate
  18. Introduced and read first time

    3/11/2025Senate

Bill Text

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