Governor Henry McMaster signed an extension of South Carolina's tax credit program for abandoned buildings, increasing the maximum credit and extending its expiration date.
Governor Henry McMaster signed an extension of South Carolina's tax credit program for abandoned buildings, increasing the maximum credit per year from $500,000 to $700,000 and extending the program's expiration date from 2025 to 2035. The program, which began in 2013, has led to more than $96 million in tax breaks for over 2,200 properties. The increased tax credit is intended to encourage more investment in neglected properties, creating jobs and revitalizing communities, while also preserving local history and public safety.
August 21, 2024
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