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.
S.C. Code Ann. § 31-6-85
Intergovernmental agreement for redevelopment project
Known as the Tax Increment Financing Law
The act spans §§ 31–31 (13 sections).
2012 Act No. 267, SECTION 2, eff June 20, 2012.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.