MCIP Law definition

MCIP Law means the provisions of Article VIII, Section 13, Paragraph D of the Constitution of the State of South Carolina 1895, as amended, and Section 4-1-170 of the Code of Laws of South Carolina, 1976, as amended.
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MCIP Law means the provisions of Article VIII, Section 13, Paragraph D of the Constitution of the State of South Carolina, 1895, as amended, and Section 4-1-170 of the Code of Laws of South Carolina, 1976, as amended.
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Examples of MCIP Law in a sentence

  • With respect to facilities located in a Multi-County Industrial Park, references to taxes or ad valorem taxes means the payments in-lieu-of taxes provided for in the MCIP Law.

  • Under the MCIP Law, so long as the Park Property is located in the Park, the Park Property is exempt from all ad valorem taxation.

  • As required pursuant to Section 4-1-170(C) of the MCIP Law, and as acknowledged in the Master Agreement, in consideration for the agreements, representations, and benefits contained in this Intergovernmental Agreement, the City has consented to the creation of the Park.

  • The Master Agreement meets the requirements set forth in the MCIP Law and its provisions shall govern the operation of the Park.

  • Under the MCIP Law, during this Agreement’s term, Property is exempt from all ad valorem taxation.

  • The MCIP Law provides that counties may jointly develop an industrial or business park with other counties within the geographical boundaries of one or more of the member counties, provided that the counties enter into a written agreement for the development and operation of the industrial or business park that includes certain provisions.