South Carolina Legislature


Session 107 - (1987-1988)Printer Friendly
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H*3405 (Rat #0545, Act #0488 of 1988) General Bill, By B.O. Baker
    A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section 12-7-1250, so as to allow a state corporate income tax credit for corporate contributions for infrastructure construction or improvement, to limit the credit to fifty percent of the expenses, not to exceed ten thousand dollars, to allow a three-year carry forward of unused credit, and to define infrastructure as sewer lines, water lines, related facilities, and roads not for the taxpayer's exclusive benefit, built to appropriate standards, and dedicated to public use, or, in the case of water and sewer lines built in service areas of privately owned water or sewer systems, deeded to a qualifying private entity, to require expenses to be allocated when a taxpayer also benefits from a project, to define qualifying private entity, and to require the amount of the tax credit allowed for a road project to be added to the tax due of the taxpayer who claimed the credit if the road is removed from the State Highway System or Public Road System.-amended title
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12/21/87House Prefiled
12/21/87House Referred to Committee on Ways and Means
01/12/88House Introduced and read first time HJ-277
01/12/88House Referred to Committee on Ways and Means HJ-277
02/02/88House Committee report: Favorable Ways and Means HJ-839
02/10/88House Debate adjourned until Thursday, February 11, 1988 HJ-1063
02/11/88House Read second time HJ-1108
02/11/88House Unanimous consent for third reading on next legislative day HJ-1111
02/12/88House Read third time and sent to Senate HJ-1166
02/16/88Senate Introduced and read first time SJ-5
02/16/88Senate Referred to Committee on Finance SJ-5
04/06/88Senate Recalled from Committee on Finance SJ-143
04/07/88Senate Amended SJ-40
04/07/88Senate Read second time SJ-42
04/07/88Senate Ordered to third reading with notice of amendments SJ-42
04/14/88Senate Read third time SJ-192
04/14/88Senate Returned SJ-192
04/20/88House Concurred in Senate amendment and enrolled HJ-3122
04/26/88 Ratified R 545
05/02/88 Signed By Governor
05/02/88 Act No. 488
05/02/88 See act for exception to or explanation of effective date
05/23/88 Copies available

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