Bill would let military-base TIF fund workforce housing, allow funds outside TIF boundary and extend bonding period
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Summary
House Bill 3,333 would expand the military base tax increment financing statute to include workforce housing projects, permit local governments to use TIF funds outside the TIF boundary, and extend the bonding period from 15 to 35 years. The subcommittee moved the bill favorably after testimony from local government and business groups.
House Bill 3,333, sponsored by Representative Celeste Davis, would expand the definition of projects eligible under the military base tax increment financing (TIF) statute to include workforce housing, permit a local governing body to use TIF funds outside the defined TIF boundary, and extend the bonding period for military-base TIF from 15 years to 35 years.
Representative Davis told the subcommittee the measure passed the House in the prior session but died in the Senate after late amendments. She said letters of support are on file from Governor Henry McMaster, Colonel Freeman of Joint Base Charleston and North Charleston Mayor Keith Summey.
Erica Wright of the Municipal Association of South Carolina testified in support, asking the subcommittee for a favorable report and noting that the group seeks passage after an eleventh-hour amendment last year caused the bill to fail in the Senate. Bailey Vincent of the Charleston Metro Chamber also testified in support and drew the committee's attention to an updated letter from Joint Base Charleston. Committee members discussed why the Senate amendment killed the bill last year and indicated they would prioritize the measure for the current session.
The subcommittee called the roll and recorded unanimous support from members present; the bill moved favorably for further consideration in the Legislature.
Ending: Sponsors and supporters said they will continue outreach in the Senate to secure final passage.