South Carolina Code 4-10-1010. Preservation procurements defined; sales and use tax
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(A) For the purposes of this article, "preservation procurements" means procuring open lands or green space for preservation, by and through the acquisition of interests in real property, including:
(1) the acquisition of fee simple titles;
Terms Used In South Carolina Code 4-10-1010
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) conservation easements;
(3) development rights;
(4) rights of first refusal;
(5) options;
(6) leases with options to purchase; and
(7) any other interests in real property.
(B)(1) Subject to the requirements of this article, a county’s governing body may impose a sales and use tax by ordinance, subject to a referendum, within the county area for preservation procurements.
(2) Revenues collected pursuant to this article may be used to defray debt service on bonds issued to pay for preservation procurements authorized in this article. This authorization is in addition to any other locally imposed sales and use taxes.