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S890 • 2026

Small Business Property Tax Relief

Small Business Property Tax Relief

Small Business Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Senators Kennedy and Leber
Last action
2026-02-04
Official status
Referred to Committee on Finance ( Senate Journal-page 7 )
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Small Business Property Tax Relief

Small Business Property Tax Relief

What This Bill Does

  • Small Business Property Tax Relief

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-02-04 Senate

    Introduced and read first time ( Senate Journal-page 7 )

  2. 2026-02-04 Senate

    Referred to Committee on Finance ( Senate Journal-page 7 )

Official Summary Text

Small Business Property Tax Relief

Current Bill Text

Read the full stored bill text 
2025-2026 Bill 890: Small Business Property Tax Relief - 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. 890
STATUS INFORMATION
General Bill
Sponsors: Senators Kennedy and Leber
Document Path: SR-0027CEM25.docx
Introduced in the Senate on February 4, 2026
Currently residing in the Senate Committee on
Finance
Summary: Small Business Property Tax Relief
HISTORY OF LEGISLATIVE ACTIONS

Date

Body

Action Description with journal page number

2/4/2026

Senate

Introduced and read first time (
Senate Journal-page 7
)

2/4/2026

Senate

Referred to Committee on
Finance
(
Senate Journal-page 7
)

View the latest
legislative information
at the website
VERSIONS OF THIS BILL
02/04/2026

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION
12-37-221
SO AS TO CREATE A TEN THOUSAND DOLLAR property TAX CREDIT FOR SMALL
BUSINESSES.

B
e it enacted by the
General Assembly of the State of South Carolina:

S
ECTION 1.
C
hapter 37, Title 12 of the S.C. Code is amended by
adding:

S
ection
12-37-221
.
(
A) For the purposes of
this section, "small business" means a commercial retail service, industry
entity, or nonprofit corporation, including affiliates, that:

(
1)
is registered, incorporated, and headquartered in this State;

(
2)
is owned by a resident or residents of this State who pay income taxes in this
State;

(
3)
is independently owned and operated; and

(
4)
employs fewer than one hundred full-time employees or has gross annual sales or
program service revenues of less than three million dollars.

(
B)
(
1) In addition to the exemptions
provided in Section
12-37-220
(A) and (B), a taxpayer who is a majority owner of
a small business, as defined in this section,
is
entitled to a property bill tax credit of ten thousand dollars
.

(
2)
A taxpayer shall not use the tax credit in this section more than one time each
tax year.

S
ECTION 2. This act takes effect upon approval
by the Governor.

----XX----

This web page was last updated on February 4, 2026 at 1:20 PM