When any nonprofit housing corporation owns property within a county or municipality which is exempted from ad valorem taxes under an act of the General Assembly, the county or municipality or both are authorized to contract with such corporation for payments in lieu of taxes for services rendered by the county or municipality.
S.C. Code Ann. § 12-37-240
Payments in lieu of taxes by nonprofit housing corporations exempt under act of General Assembly
1962 Code SECTION 65-1523.2; 1970 (56) 2605.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.