All Roll Calls
Yes: 144 • No: 0
South CarolinaS 0439126th General Assembly (2025-2026)Senate
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO INCREASE THE MAXIMUM REIMBURSEMENT AMOUNT FOR THE EXEMPTION ON CERTAIN MANUFACTURING PROPERTY.
Sponsored By: Harvey S. Peeler, Jr. (Republican)
Signed by Governor
Summary
Manufacturing property tax exemption
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
State caps reimbursements for factory tax break
Starting with property tax years that begin after 2024, the state reimburses local governments and schools for lost revenue from the factory property tax break, up to $300 million each year. If expected reimbursements would top $300 million, the exemption is cut across the board so the total stays within the cap. The state uses the same formula as the Trust Fund for Tax Relief to send this money. The Board of Economic Advisors must subtract these expected payments when it estimates state income tax revenues. Public utilities regulated by the Public Service Commission are not eligible, and any refunds or credits to those utilities must be passed to customers as lower rates when appropriate. Property covered by this exemption still counts as taxable for local bond limits. Approved May 15, 2026.
Sponsors & Cosponsors
Sponsor
Harvey S. Peeler, Jr.
Republican • Senate
Cosponsors
Brian Adams
Republican • Senate
Thomas C. Alexander
Republican • Senate
Sean M. Bennett
Republican • Senate
Wes Climer
Republican • Senate
Ronnie W. Cromer
Republican • Senate
Tom Davis
Republican • Senate
Lawrence K. "Larry" Grooms
Republican • Senate
Darrell Jackson
Democrat • Senate
Michael Johnson
Republican • Senate
Josh Kimbrell
Republican • Senate
Ed Sutton
Democrat • Senate
Ross Turner
Republican • Senate
Daniel B. "Danny" Verdin III
Republican • Senate
Tom Young, Jr.
Republican • Senate
Jeff Zell
Republican • Senate
Roll Call Votes
House vote • 5/5/2026
(Manufacturing property tax exemption)Passage of Bill
Yes: 104 • No: 0
Senate vote • 5/1/2025
(Manufacturing property tax exemption)2nd Reading
Yes: 40 • No: 0
Actions Timeline
Act No. 122
5/26/2026legislatureEffective date See Act for Effective Date
5/26/2026legislatureSigned By Governor
5/15/2026GovernorRatified R 137
5/14/2026legislatureRead third time and enrolled
5/6/2026HouseRoll call Yeas-104 Nays-0
5/5/2026HouseRead second time
5/5/2026HouseDebate adjourned until Tues., 5-5-26
4/30/2026HouseDebate adjourned
4/29/2026HouseCommittee report: Favorable Ways and Means
4/28/2026HouseReferred to Committee on Ways and Means
5/6/2025HouseIntroduced and read first time
5/6/2025HouseRead third time and sent to House
5/6/2025SenateRoll call Ayes-40 Nays-0
5/1/2025SenateRead second time
5/1/2025SenateCommittee report: Favorable Finance
4/29/2025SenateReferred to Committee on Finance
3/11/2025SenateIntroduced and read first time
3/11/2025Senate
Bill Text
Introduced
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