Select a different bill



H 3130 - Enacts the South Carolina Opportunity Zone Enhancement Act of 2021

Tracking Level: Of Interest
Sponsor: Marvin Pendarvis
Last Action: 4/7/2021 - House - Member(s) request name added as sponsor: Davis
House Committee: WM
Assigned To:
Economic DevelopmentNext Bill

Staff Analysis of the Legislation

Summary of the bill as introduced: Creates new income tax credits to taxpayers investing in new projects located in Opportunity Zones. 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
South Carolina Legislature Online - Bill Search by Bill Number
South Carolina Legislature




Instructions


 
Loading...
Session 124 - (2021-2022)Printer Friendly
(pdf format)
H 3130 General Bill, By Pendarvis, Thigpen, Cobb-Hunter and Davis
Summary: SC Opportunity Zone Enhancement Act of 2021
    A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, TO ENACT THE "SOUTH CAROLINA OPPORTUNITY ZONE ENHANCEMENT ACT OF 2021" BY ADDING SECTION 12-6-3805 SO AS TO PROVIDE AN INCOME TAX CREDIT TO TAXPAYERS INVESTING IN NEW PROJECTS LOCATED IN AN OPPORTUNITY ZONE IN THIS STATE; BY ADDING SECTION 12-6-3810, AS AMENDED, SO AS TO ALLOW A TAXPAYER ELIGIBLE FOR A FEDERAL LOW-INCOME HOUSING TAX CREDIT TO CLAIM A LOW-INCOME STATE TAX CREDIT, IF THE PROPERTY IS LOCATED IN DESIGNATED OPPORTUNITY ZONES IN THIS STATE; TO AMEND SECTION 12-6-3360, AS AMENDED, RELATING TO THE JOBS TAX CREDIT, SO AS TO PROVIDE FOR AN ADDITIONAL CREDIT FOR FULL-TIME JOBS CREATED IN TIER III AND TIER IV COUNTIES WITHIN DESIGNATED OPPORTUNITY ZONES; BY ADDING ARTICLE 27 TO CHAPTER 36, TITLE 12 SO AS TO PROVIDE FOR A SALES TAX REBATE AND CREDIT TO A GROCERY STORE VENDOR WHICH LOCATES A STORE IN AN OPPORTUNITY ZONE IN AN AREA WHICH IS DEFINED AS A "FOOD DESERT"; BY ADDING SECTION 13-1-35 SO AS TO PROVIDE THAT THE DEPARTMENT OF COMMERCE SHALL ESTABLISH A GRANT PROGRAM TO PROVIDE NONRECURRING AID TO TAXPAYERS INVESTING IN NEW PROJECTS IN A DESIGNATED OPPORTUNITY ZONE IN TIER III OR TIER IV COUNTIES ON A PRIORITY BASIS; AND BY ADDING SECTION 13-1-47 SO AS TO ESTABLISH WITHIN THE DEPARTMENT OF COMMERCE A SOUTH CAROLINA OPPORTUNITY ZONE LEADERSHIP TASK FORCE AND TO PROVIDE FOR ITS DUTIES AND FUNCTIONS.
View full text
12/09/20House Prefiled
12/09/20House Referred to Committee on Ways and Means
01/12/21House Introduced and read first time (House Journal-page 82)
01/12/21House Referred to Committee on Ways and Means (House Journal-page 82)
04/07/21House Member(s) request name added as sponsor: Davis



Legislative Services Agency
h t t p : / / w w w . s c s t a t e h o u s e . g o v









Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc