For the purposes of computing the 'index of taxpaying ability' pursuant to item (3) of Section 3 of Act 163 of 1977 (South Carolina Education Finance Act) for any area in which tax increment financing plan is in effect the value to be used shall be the original assessed value plus any portion of the captured assessed value which is distributed among taxing authorities pursuant to Section 31-8-120.
S.C. Code Ann. § 59-20-25
Index of taxpaying ability as applied to area in which a tax increment financing plan is in effect
Known as the South Carolina Education Finance Act
The act spans §§ 59–59 (15 sections).
1981 Act No. 164, SECTION 3.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.