SC Abandoned Buildings Revitalization Act


The Abandoned Buildings Revitalization Act tax credit is the final economic development tool covered in this series prepared by the Municipal Association of SC. The General Assembly passed the act “to create an incentive for the rehabilitation, renovation and redevelopment of abandoned buildings located in South Carolina” by offering a state income tax or property tax credit to eligible projects.

The ABRA credit can be a powerful catalyst for rehabilitating empty and underutilized buildings that contribute to blight and safety concerns in urban and rural communities. This credit is structured and administered in a manner very similar to the textile revitalization and retail facilities credits.


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    Categories : South Carolina News

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