Four pieces of legislation were introduced in Columbia this year by state Senator Marlon Kimpson, D-Charleston, which, if passed, could pave the way for new funding mechanisms for South Carolina affordable housing.
This measure would allow counties and municipalities to use inclusionary zoning strategies to create more affordable housing options across the state. This would mean communities can ensure as they grow that housing options are available to residents of all income levels.
If passed, this bill would further incentivize property owners to keep their rental units affordable by increasing the state tax credit so it would equal that of the federal government.
This bill would allow for a nominal increase, just 20 cents per $500 in value, to the fee to record a deed in SC. Half of the increase would fund the SC State Housing Finance and Development Authority, and the other half would support local and regional housing trusts’ affordable housing initiatives.
Senate bill S364 would give municipalities committed to funding affordable housing initiatives to increase building permit fees by no more than 10%. Communities wishing to raise building permit fees would only be able to do so if the increased revenue supports affordable housing.
As citizens, we all have an obligation to make our voices heard when it comes to shaping the laws governing our communities. Contacting your state Senator is fast, easy, and critical to help advance equity in our state. When you ask the SC Senate to vote YES on these four measures, it tells them affordable housing matters to their constituents and the public supports finding solutions to the housing shortage. Click here to find out who your state Senator is and how to contact them. Voting YES on all four of these measures can help create the landscape we need to close the affordable housing gap in South Carolina.
Join the housing policy conversation on social media using #housingpolicysc, or visit housingmatterssc.com to learn more.