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TO AMEND SECTION 12-37-220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT ALL REAL PROPERTY OWNED BY A NONPROFIT EDUCATIONAL FOUNDATION OF A PUBLIC SCHOOL DISTRICT AND WHICH IS DEVOTED TO PROVIDING HOUSING FOR CLASSROOM TEACHERS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-37-220(B)(11) of the 1976 Code, as last amended by Act 68 of 2021, is further amended by adding an appropriately lettered subitem to read:
"( ) all real property owned by a nonprofit educational foundation of a public school district and which is devoted to providing housing for classroom teachers in the school district;"
SECTION 2. This act takes effect upon approval by the Governor and first applies to property tax years beginning after 2021.
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