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TO AMEND SECTION 12-37-220 OF THE 1976 CODE, RELATING TO GENERAL EXEMPTIONS FROM PROPERTY TAXES; BY ADDING A NEW SUBSECTION TO ALLOW COUNTIES TO EXEMPT FROM AD VALOREM TAXATION SOLAR ENERGY ELECTRIC SYSTEMS AND THE DIFFERENCE BETWEEN THE COST OF A SOLAR ENERGY HEATING OR COOLING SYSTEM AND A TRADITIONAL HEATING OR COOLING SYSTEM.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220 of the 1976 Code is amended by adding:
"(F) In addition to the other exemptions provided for in this section, the governing body of a county may also exempt from ad valorem taxation:
(1) eighty percent of the appraised value of a solar energy electric system. For the purposes of this item, 'solar energy electric system' means all equipment used directly and exclusively for the conversion of solar energy into electricity; and
(2) the difference between the value of a solar energy heating or cooling system and a conventional heating or cooling system."
SECTION 2. This act takes effect upon approval by the Governor.
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