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Subcommittee refers heirs-property tax bill to Ways and Means after fiscal-office note
Summary
House Bill 40-71, which would prevent certain heirs' property transfers from triggering property tax reassessments, was removed from debate in subcommittee and referred to the Ways and Means Committee after the state's fiscal staff said the bill amends the Real Property Valuation Reform Act and should go to Ways and Means.
The Domestic Relations, Business and Probate Law Subcommittee moved to adjourn debate on House Bill 40-71 and referred the measure to the Ways and Means Committee after the South Carolina Revenue and Fiscal Affairs fiscal staff advised that the bill, which amends the Real Property Valuation Reform Act within the tax code, should have been routed to Ways and Means.
The bill would amend the South Carolina tax code to exclude certain heirs' property transfers from being treated as assessable transfers of interest for property-tax purposes, a change intended to prevent reassessments when family members transfer ownership among themselves to clear title. The subcommittee did not take up further policy debate or witness testimony on the measure after the referral motion.
Subcommittee members agreed to the referral. The chair moved to adjourn debate and refer the bill; members responded in the affirmative by voice vote and the motion carried. Committee staff cited a contact from the fiscal-impact staff at the South Carolina Revenue and Fiscal Affairs Office that recommended referral to avoid procedural issues on the House floor.
The referral pauses subcommittee consideration so Ways and Means can review any fiscal implications tied to property-tax assessments and valuation reform before the bill proceeds through the House process.
