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House clears second reading for bill to clarify textile-mill revitalization tax credits
Summary
Representative Long said House Bill 54 88 clarifies eligibility and interpretation of tax credits for revitalizing former textile sites, resolving Department of Revenue questions about multi-parcel and multi-phase projects; the chamber gave the bill a recorded second reading.
Representative Long explained House Bill 54 88, which he described as a targeted technical fix to clarify eligibility requirements for tax credits under the "South Carolina Texas Communities Revitalization Act." Long said the bill resolves Department of Revenue questions about how credits apply when projects involve multiple parcels, developers or phases.
"This is needed because the Department of Revenue raised some interpretation questions on the current statute," Long said, adding the bill does not change qualifying activities like demolition but clarifies when separate parcels or phases can receive proportional credits. Representative Pace asked whether the bill singles out textiles; Long replied it maintains existing statutory activities and simply clarifies how credits apply across multi-phase projects.
During roll call the clerk closed the poll and recorded the result: House Bill 54 88 received second reading. Later procedural action placed the bill on the calendar for third reading the following day by unanimous consent.
