S.C. House Ways and Means Committee to vote on abandoned buildings bill

In an effort to revitalize the state’s surplus of older buildings to fit today’s manufacturing needs, a S.C. House Ways and Means subcommittee approved a measure giving tax breaks for renovations of abandoned or dilapidated buildings.

A taxpayer making at least a $500,000 investment in rehabilitating an abandoned building may receive a 25% state income tax credit to be applied for investment in the rehabilitation of a building that has been abandoned for a minimum of five years.

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