The municipality and one or more taxing districts may at any time provide by intergovernmental agreement that such taxing district or taxing districts will participate in a redevelopment project on a partial or modified basis. Such intergovernmental agreement shall become effective, and shall be valid and enforceable for the entire duration thereof, upon its approval by ordinance enacted by the municipality and by ordinance or resolution, whichever is applicable, enacted or approved by the affected taxing district or taxing districts.
HISTORY: 2012 Act No. 267, Section 2, eff June 20, 2012.
Structure South Carolina Code of Laws
Title 31 - Housing and Redevelopment
Chapter 6 - Tax Increment Financing For Redevelopment Projects
Section 31-6-20. Declaration of legislative findings.
Section 31-6-40. Issuance of obligations for redevelopment costs; security; manner of retirement.
Section 31-6-50. Application of proceeds of obligations.
Section 31-6-60. Exemption of obligations and interest thereon from South Carolina taxes.
Section 31-6-85. Intergovernmental agreement for redevelopment project.
Section 31-6-90. Persons displaced by redevelopment project.
Section 31-6-100. Assessment of value of real estate in redevelopment project area.
Section 31-6-120. Project located within more than one municipality.