S.C. Code Regs. 117-1820.1 — Manufacturing Plants Constructed Pursuant to the Industrial Revenue Bond Act

The Lessee of all manufacturing plants constructed pursuant to Chapter 29, Title 4 of the South
Carolina Code of Laws, shall file a return with the Department of Revenue in the same manner as if
owned by the lessee. The department shall value and calculate an assessment for the manufacturing
plant in the same manner as if owned by the lessee and furnish the assessment to the county in which it
is located as information so that the county, school districts and other political units may determine
such rental charge as required by law which would be equivalent to the ad valorem tax that would
result if such property were privately owned.