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S1122 • 2026
Textiles Revitalization
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Textiles Revitalization
Introduced and read first time ( Senate Journal-page 39 )
Referred to Committee on Finance ( Senate Journal-page 39 )
Textiles Revitalization
2025-2026 Bill 1122: Textiles Revitalization - South Carolina Legislature Online South Carolina General Assembly 126th Session, 2025-2026 Download This Bill in Microsoft Word Format Indicates Matter Stricken Indicates New Matter S. 1122 STATUS INFORMATION General Bill Sponsors: Senator Grooms Companion/Similar bill(s): 5488 Document Path: SR-0631KM26.docx Introduced in the Senate on April 15, 2026 Currently residing in the Senate Committee on Finance Summary: Textiles Revitalization HISTORY OF LEGISLATIVE ACTIONS Date Body Action Description with journal page number 4/15/2026 Senate Introduced and read first time ( Senate Journal-page 39 ) 4/15/2026 Senate Referred to Committee on Finance ( Senate Journal-page 39 ) View the latest legislative information at the website VERSIONS OF THIS BILL 04/15/2026 A bill TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-65-20 , RELATING TO DEFINITIONS FOR THE SOUTH CAROLINA TEXTILES COMMUNITIES REVITALIZATION ACT, SO AS TO SPECIFY QUALIFYING REQUIREMENTS FOR CERTAIN REHABILITATION EXPENSES. B e it enacted by the General Assembly of the State of South Carolina: S ECTION 1. S ection 12-65-20 (8)(a) of the S.C. Code is amended to read: ( a) "Rehabilitation expenses" means the expenses or capital expenditures incurred in the rehabilitation, renovation, or redevelopment of the textile mill site, including without limitations, the demolition of existing buildings, environmental remediation, site improvements and the construction of new buildings and other improvements on the textile mill site, but excluding the cost of acquiring the textile mill site or the cost of personal property located at the textile mill site. For expenses associated with a textile mill site to qualify for the credit, the textile mill and buildings on the textile mill site included in the Notice of Intent to Rehabilitate must be either renovated or demolished , and this requirement applies independently to each Notice of Intent to Rehabilitate without regard to the rehabilitation status of any parcel or building not included in that notice; provided, however, that for any contiguous parcel included within the textile mill site pursuant to item 4(b), the textile mill and buildings on the textile mill site must be either renovated or demolished if both the textile mill and the contiguous parcel are owned by the same taxpayer or affiliated taxpayers . S ECTION 2. This act takes effect upon approval by the Governor. ----XX---- This web page was last updated on April 15, 2026 at 3:06 PM