Staff Analysis of the Legislation
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05.03.2022 The Senate Finance Committee gave this bill a favorable report as amended. The amendment only makes technical changes.
04.27.2022 The Senate Finance Natural Resources and Economic Development subcommittee gave this bill a favorable report as amended. The amendment only made technical amendments.
03.31.2022 The House Ways and Means Committee gave this bill a favorable report as amended. The amendment only corrects a technical error.
Summary of the bill as introduced: Increases the maximum annual state license credits allowed taxpayers for contributions to qualifying infrastructure and economic development projects from $400,000 to $600,000. |
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H*3340 (Rat #0201, Act #0184 of 2022) General Bill, By Bailey, Hardee, Atkinson, Hayes, Brittain and Weeks
Similar ( S 1189) Summary: License tax credits allowed for contributions to qualifying infrastructure and development projects AN ACT TO AMEND SECTION 12-20-105, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO STATE LICENSE TAX CREDITS ALLOWED CERTAIN TAXPAYERS FOR CONTRIBUTIONS TO QUALIFYING INFRASTRUCTURE AND ECONOMIC DEVELOPMENT PROJECTS, SO AS TO INCREASE THE MAXIMUM ANNUAL CREDIT AMOUNT FROM FOUR HUNDRED THOUSAND TO SIX HUNDRED THOUSAND DOLLARS, TO PROVIDE ADDITIONAL ANNUAL CREDIT AMOUNTS OF FIFTY THOUSAND DOLLARS, ONE HUNDRED THOUSAND DOLLARS, AND ONE HUNDRED FIFTY THOUSAND DOLLARS, RESPECTIVELY, FOR QUALIFYING PROJECTS LOCATED IN COUNTIES CLASSIFIED FOR THE TARGETED JOBS TAX CREDIT AS TIER II, III, AND IV COUNTIES, AND TO PROVIDE ADDITIONAL ELIGIBILITY REQUIREMENTS FOR THESE INCREASED CREDIT AMOUNTS. - ratified title View full text View Vote History View Fiscal Impact
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