Property tax exemptions

A BILL TO AMEND SECTION 12-37-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXEMPTIONS FROM PROPERTY TAX, SO AS TO EXEMPT ALL PROPERTY DEVOTED TO HOUSING LOW INCOME RESIDENTS IF THE PROPERTY IS OWNED BY AN INSTRUMENTALITY OF A NONPROFIT HOUSING CORPORATION OR OWNED BY AN ENTITY THAT PROVIDES LOW INCOME HOUSING AND IS CONTROLLED BY AN INSTRUMENTALITY OF A NONPROFIT HOUSING CORPORATION; AND TO AMEND SECTION 31-3-570, RELATING TO THE TAX EXEMPTION FOR THE PROPERTY OF A HOUSING AUTHORITY, SO AS TO INCLUDE PROPERTY OWNED BY AN ENTITY THAT PROVIDES LOW INCOME HOUSING AND IS CONTROLLED BY AN INSTRUMENTALITY OF A HOUSING AUTHORITY.