"Gov. Sanford signs Economic Development Competitiveness Act" SCBIZ  June 24, 2010
The June 24th, 2010 edition of SCBIZ features an article entitled "Gov. Sanford signs Economic Development Competitiveness Act." Nexsen Pruet's Burnie Maybank played a key role in drafting the legislation.
Maybank told SCBIZ that under the bill South Carolina manufacturers will be eligible for property reassessment and because facilities generally lose value over time, the reappraisals will reduce tax bills.
Maybank added that the bill also makes an investment tax credit available across the state, but no major new incentives are part of the plan because state revenues continue to drop.
In addition to answering House Speaker Bobby Harrell's call to help with the Economic Development Competitiveness Act, Maybank also serves as Chair of the South Carolina Tax Realignment Commission (TRAC). |
