Bill
H 3738
Overview: H 3738, the South Carolina Housing Development Revenue Enhancement Act, has had a scrivener's error corrected since its introduction on February 27, 2025.Purpose and Inte
Overview: H 3738, the South Carolina Housing Development Revenue Enhancement Act, has had a scrivener's error corrected since its introduction on February 27, 2025.
Purpose and Intent: The bill aims to enhance the revenue sources available for housing development projects in South Carolina, with the goal of increasing the supply of affordable housing options across the state.
Key Provisions:
- Authorizes the South Carolina State Housing Finance and Development Authority to issue revenue bonds to finance the construction, renovation, and preservation of affordable housing units
- Expands the types of revenue streams that can be pledged to secure these bonds, including certain tax increment financing (TIF) revenues
- Allows the Authority to provide grants, loans, and other financial assistance to developers and local governments for eligible housing projects
Affected Parties and Impacts: The bill is expected to benefit low- and moderate-income residents in South Carolina by increasing the availability of affordable housing. Developers and local governments involved in housing projects will also be impacted through the expanded financing options.
Procedural and Timeline Considerations: The bill has had a scrivener's error corrected and is currently in an unspecified status, with no further details provided on its legislative progress.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
