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S 1027

Community development corporations

2025-2026 Regular Session Introduced by Tom Davis

S 1027 authorizes Community Development Corporations in South Carolina to spur local economic growth, affordable housing, and community revitalization in underserved areas.

Referred to Committee on Finance
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Bill Summary · S 1027

Legislative bill overview

S 1027 establishes a framework for Community Development Corporations (CDCs) in South Carolina, likely authorizing their creation and operation to promote economic development, housing, and community improvement in designated areas. The bill has been introduced by Senator Tom Davis and is currently under review by the Committee on Finance.

Why is this important

CDCs are nonprofit organizations that typically drive local economic development, affordable housing creation, and business growth in underserved communities. This legislation could unlock resources and provide legal structures for communities to address poverty, create jobs, and revitalize neighborhoods without direct government intervention.

Potential points of contention

  • Funding mechanisms: Unclear whether CDCs receive public subsidies, tax incentives, or operate entirely through private investment, raising questions about fiscal responsibility and fair use of state resources
  • Accountability standards: The bill may lack clarity on oversight, performance metrics, and transparency requirements to ensure CDCs achieve stated community benefits rather than serving narrow interests
  • Geographic targeting: Defining which communities qualify for CDC support could be contentious, with disputes over whether criteria are equitable or favor politically connected areas

Compiled from official sources — confirm details with the bill’s official record.

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