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Subcommittee backs widening military-base TIF to include workforce housing and extend bonding period
Summary
House Bill 3,333 would expand the military base tax-increment financing statute to include workforce housing projects, allow TIF funds to be used outside the TIF boundary, and extend the bonding period from 15 to 35 years; the subcommittee recommended the bill favorably
Columbia, S.C. — Lawmakers on the House Subcommittee on Veterans and Military Affairs voted Wednesday to recommend House Bill 3,333, which would broaden the state’s military base tax increment financing (TIF) statute to allow workforce housing projects and extend the bonding period from 15 to 35 years.
Sponsor Representative Celeste Davis said the measure updates the military-base TIF statute to bring it closer to standard TIF law and to enable housing development that…
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