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S 0390 - Creates a tax credit for a taxpayer making a qualifying capital investment at their business

Tracking Level: Of Interest
Sponsor: Rex Rice
Last Action: 1/22/2019 - Senate - Referred to Committee on Finance
Senate Committee: Fin
Assigned To:
Finance/Revenue/TaxesNext Bill

Staff Analysis of the Legislation
Summary of the bill as introduced: Creates a 20 percent tax credit or rebate of new tax revenue paid by a taxpayer if they made a qualifying capital investment at their business.

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Session 123 - (2019-2020)Printer Friendly
(pdf format)
S 0390 General Bill, By Rice
Summary: Income tax credits
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3800 SO AS TO PROVIDE FOR TAX CREDITS OR REBATES AGAINST VARIOUS TYPES OF TAXES IMPOSED UNDER STATE LAW FOR ELIGIBLE TAXPAYERS EQUAL TO TWENTY PERCENT OF NEW TAX REVENUE PAID BY THESE TAXPAYERS IF THEY HAVE MADE A QUALIFYING CAPITAL INVESTMENT AT THEIR BUSINESS LOCATION WHERE THIS ADDITIONAL TAX REVENUE WAS GENERATED, AND TO PROVIDE PROCEDURES FOR AND LIMITATIONS ON THESE TAX CREDITS OR REBATES.
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01/22/19Senate Introduced and read first time (Senate Journal-page 4)
01/22/19Senate Referred to Committee on Finance (Senate Journal-page 4)


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