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INCENTIVE DESCRIPTION
| State: | SC |
| Incentive Type: | Property Tax Incentives |
| Incentive Title: | Property Tax Rebates/Refunds |
| Description: | 1) SPECIAL SOURCE REVENUE BONDS- Used in connection with the Little or Big Fee only. Based upon the amount of the abatement, costs related to infrastructure and other improvement investments, the county may issue bonds to cover these costs. The bonds are typically repayed through a portion of the abatement generated. 2) SPECIAL SOURCE REVENUE CREDIT - The SSRC is at the discretion of the local county in terms of the amount and length of this refund. The SSRC is in addtion to the abatement generated from the various property tax abatements. |
| Eligibility Requirements: | In general, calculations for the SSRC and SSRB should be undertaken to determine which is more advantageous to the project. The project can only be eligible for either the SSRB or the SSRC, but not both. 1) Must be a qualified industry, bonds must be issued by the governing authority, typically only applies to infrastructure. 2) Must be a qualified industry, must meet rules and regulations adopted by each individual county. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | State of South Carolina |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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