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TO AMEND SECTION 31-12-70(A)(16) OF THE 1976 CODE, RELATING TO THE POWERS OF REDEVELOPMENT AUTHORITIES, TO PROVIDE THAT CERTAIN REDEVELOPMENT FEES MAY BE USED FOR FINANCING, ACQUIRING, DEVELOPING, SUPPORTING, AND OPERATING CERTAIN MUSEUM PROJECTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 31-12-70(A)(16) of the 1976 Code is amended to read:
"(16) to use the redevelopment fees provided pursuant to Section 12-10-88 for:
(a) the administration and implementation of the redevelopment authority's redevelopment plans which may include programs to reduce unemployment or increase the property tax base in the area served by the authority, including without limitation, by permitting the use of the fees by multicounty economic development not-for-profit corporations whose members include one or more counties that contain some or all of the area of operation of the redevelopment authority for their administration and operating costs; and
(b) financing, acquiring, developing, supporting, and operating museum projects, to include real and personal property, that the redevelopment authority determines are appropriate to support or undertake in order to facilitate tourism and economic development and that are located anywhere within the territorial boundaries of the counties entitled to representation on a redevelopment authority. A museum project is considered a redevelopment project, and the location of the museum is considered within its area of operation. A redevelopment authority may assign, grant, contribute, or otherwise appropriate redevelopment fees in connection with financing, acquiring, developing, supporting, and operating any project authorized in this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
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