South Carolina § 12-10-60 - Revitalization agreement.
Full text of South Carolina South Carolina Code of Laws § 12-10-60 — Revitalization agreement., with citation guidance and answers to common questions.
§ 12-10-60. Revitalization agreement.
The council may enter into a revitalization agreement with each qualifying business with respect to the project. The terms and provisions of each revitalization agreement must be determined by negotiations between the council and the qualifying business. The decision to enter into a revitalization agreement with a qualifying business is solely within the discretion of the council based on the appropriateness of the negotiated incentives to the project and the determination that approval of the project is in the best interests of the State. The revitalization agreement must set a date by which the qualifying business shall have met the required investment and employment levels. After meeting the thresholds, the qualifying business shall document the actual costs of the project in a manner acceptable to the council. A business is allowed to count jobs filled by remote employees towards the minimum employment levels. While remote employees count towards a business's minimum employment levels, a business may claim job development credits on a remote employee only to the extent the remote employee was subject to withholdings pursuant to Chapter 8. A business which pays withholdings on a remote employee in South Carolina and some other state can only claim job development credits to the extent of the South Carolina withholdings.
HISTORY: 1995 Act No. 25, SECTION 1; 1999 Act No. 114, SECTION 5; 2000 Act No. 399, SECTION 3(B)(4), eff August 17, 2000; 2024 Act No. 222 (H.4087), SECTION 3, eff July 2, 2024.
Editor's Note
2024 Act No. 222, SECTION 6, provides as follows:
"SECTION 6. This act takes effect upon approval by the Governor and first applies to income tax years beginning after 2023, except that SECTION 3 first applies to income tax years beginning after 2020."
Effect of Amendment
2024 Act No. 222, SECTION 3, rewrote the section.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 12-10-60
What does South Carolina Code of Laws § 12-10-60 cover?
Section 12-10-60 ("Revitalization agreement.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 12-10-60?
A common citation format is "South Carolina Code of Laws § 12-10-60" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 12-10-60 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.