Current Status Bill Number:View additional legislative information at the LPITS web site.
778Ratification Number: 528Act Number: 472Introducing Body: SenateSubject: To allow a nonrefundable state income tax credit of twenty percent, not to exceed three hundred dollars, for expenses paid by the taxpayer to an institution providing skilled or intermediate care
(A472, R528, S778)
AN ACT TO ALLOW A NONREFUNDABLE STATE INCOME TAX CREDIT OF TWENTY PERCENT, NOT TO EXCEED THREE HUNDRED DOLLARS, FOR EXPENSES PAID BY THE TAXPAYER TO AN INSTITUTION PROVIDING SKILLED OR INTERMEDIATE CARE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. For South Carolina income tax purposes, an individual taxpayer is allowed a credit against the tax due of twenty percent, not to exceed three hundred dollars, of the expenses paid by the taxpayer for his own support or the support of another to an institution providing skilled or intermediate care. No credit is allowed for expenses paid from public source funds. This credit is nonrefundable.
SECTION 2. The provisions of this act are effective for taxable years beginning after December 31, 1985.
SECTION 3. This act shall take effect upon approval by the Governor.