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Bill 3007

                    Current Status

Bill Number:                      3007
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010109
Primary Sponsor:                  Campsen
All Sponsors:                     Campsen, Altman, Davenport, Harrison, 
                                  Stille, Clyburn, Robinson, Owens, Cobb-Hunter
Drafted Document Number:          l:\council\bills\bbm\9744htc01.doc
Companion Bill Number:            719
Residing Body:                    House
Current Committee:                Ways and Means Committee 30 HWM
Subject:                          Income tax credit for taxpayer of 
                                  dependent on tuition, certain educational 
                                  equipment and books; Taxation, Colleges


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
------  20010605  Companion Bill No. 719
House   20010524  Co-Sponsor added (Rule 5.2) by Rep.            Cobb-Hunter
House   20010109  Introduced, read first time,           30 HWM
                  referred to Committee
House   20001206  Prefiled, referred to Committee        30 HWM


              Versions of This Bill

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3505 SO AS TO ALLOW A TAX CREDIT AGAINST THE SOUTH CAROLINA INCOME TAX LIABILITY OF A RESIDENT INDIVIDUAL FOR TUITION PAID BY THE TAXPAYER OR PURCHASES OF COMPUTER HARDWARE, EDUCATIONAL SOFTWARE, AND BOOKS MADE BY THE TAXPAYER ON BEHALF OF A DEPENDENT CLAIMED BY THE TAXPAYER ON THE TAXPAYER'S FEDERAL INCOME TAX RETURN; TO LIMIT THE CREDIT TO ONE THOUSAND DOLLARS FOR EACH DEPENDENT; TO PROVIDE THAT TUITION FOR WHICH THE CREDIT MAY BE CLAIMED AND THE AGE LIMIT ON THE STUDENT FOR WHICH THE COMPUTER HARDWARE, SOFTWARE, OR BOOK PURCHASES ARE MADE; TO ALLOW A FIVE-YEAR CARRYFORWARD FOR UNUSED CREDIT; AND TO AUTHORIZE THE DEPARTMENT OF REVENUE TO REQUIRE APPROPRIATE DOCUMENTATION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:

    "Section 12-6-3505.    A resident individual taxpayer (1) who pays preschool, kindergarten, primary, or secondary school tuition on behalf of a dependent claimed by the taxpayer on the taxpayer's federal income tax return, or (2) who purchases computer hardware, educational software, or books used in the schooling of a dependent under the age of nineteen claimed by the taxpayer on the taxpayer's federal income tax return, is allowed a credit against the tax imposed pursuant to Section 12-6-510 for the applicable tuition paid or purchases made on behalf of each dependent claimed not to exceed one thousand dollars a dependent in a taxable year. Unused credit may be carried forward for the five succeeding taxable years. The department may require appropriate documentation for claiming the credit."

SECTION    2.    Upon approval by the Governor, this action is effective for taxable years beginning after 2000.

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