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Current Status Bill Number:View additional legislative information at the LPITS web site.4513 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20020116 Primary Sponsor:Kelley All Sponsors:Kelley, Jennings, Askins, Barfield, Battle, Coates, Edge, Freeman, Hayes, J. Hines, M. Hines, Keegan, Kennedy, Lucas, McGee, Miller, Neilson, Snow, Witherspoon, Harvin Drafted Document Number:l:\council\bills\gjk\20869htc02.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Targeted jobs tax credit; to establish the designation of "distressed county", provisions regarding History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20020131 Co-Sponsor added (Rule 5.2) by Rep. Harvin House 20020116 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 12-6-3360, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TARGETED JOBS TAX CREDIT, SO AS TO ESTABLISH THE DESIGNATION OF "DISTRESSED COUNTY", PROVIDE THE CRITERIA FOR THE DESIGNATION AND ALLOW A TAX CREDIT EQUAL TO EIGHT THOUSAND DOLLARS FOR EACH NEW FULL-TIME JOB CREATED IN A DISTRESSED COUNTY, TO LIMIT THE "DISTRESSED" DESIGNATION TO NO MORE THAN SIX COUNTIES, AND TO PROVIDE FOR GROUPS OF AT LEAST SIX, BUT NOT MORE THAN TEN, CONTIGUOUS COUNTIES TO JOIN IN A REGIONAL ALLIANCE AREA TO PROMOTE REGIONAL DEVELOPMENT AND TO ALLOW A COUNTY IN THE ALLIANCE TO BE DESIGNATED AS A "LEAST DEVELOPED COUNTY" IF CERTAIN AVERAGE UNEMPLOYMENT CRITERIA ARE MET IN THE COUNTIES COMPRISING THE ALLIANCE AREA COUNTIES; AND TO AMEND SECTION 12-10-85, AS AMENDED, RELATING TO THE STATE RURAL INFRASTRUCTURE FUND, SO AS TO CONFORM THE USE OF FUND REVENUES TO THE "DISTRESSED COUNTY" DESIGNATION AND TO INCREASE FROM FIVE TO TEN MILLION DOLLARS THE THRESHOLD ABOVE WHICH TWENTY-FIVE PERCENT OF FUND REVENUES MUST BE AVAILABLE FOR GRANTS IN COUNTIES ABOVE THE BOTTOM TWO DESIGNATIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 12-6-3360(B) of the 1976 Code, as last amended by Act 89 of 2001, is further amended to read:
"(B) The department shall rank and designate the state's counties by December thirty-first each year using data from the South Carolina Employment Security Commission and the United States Department of Commerce. The counties are ranked using the last three years of available per capita income data and the last thirty-six months or three years of available unemployment rate data, with equal weight given to unemployment rate and per capita income as follows:
(1) (a) The six counties with a combination of the highest unemployment rate and lowest per capita income are designated distressed counties. Notwithstanding any other provision of law, no more than six counties may be designated or classified as distressed and notwithstanding any other provision of this section, a county may be designated as distressed only by virtue of the criteria provided in this subitem.
(b) The twelve six counties with a combination of the next highest unemployment rate and lowest per capita income are designated least developed counties.
(2) The twelve counties with a combination of the next highest unemployment rate and next lowest per capita income are designated under developed underdeveloped counties.
(3) The eleven counties with a combination of the next highest unemployment rate and the next lowest per capita income are designated moderately developed counties.
(4) The eleven counties with a combination of the lowest unemployment rate and the highest per capita income are designated developed counties. The designation by the department is effective for corporate taxable years which begin after the date of designation.
(5)(a) A county, any portion of which is located within twenty-five miles of the boundaries of an applicable military installation or applicable federal facility as defined in Section 12-6-3450(1), shall receive the next increased credit designation for five years beginning with the year in which the military installation or federal facility became an applicable military installation or applicable federal facility as defined in Section 12-6-3450(1), with the additional requirement that the military installation must have reduced employment on the installation of at least three thousand employees.
(b) In addition to the designation in subitem (a), a county in which an applicable military installation or applicable federal facility is located is allowed an additional increased credit designation for five years beginning with the year the installation or facility meets the requirements.
(c) Notwithstanding the designations in Section 12-6-3360, Laurens, Cherokee, and Union Counties shall qualify for the next increased credit designation.
(d) In a county where less than five percent of the work force is in manufacturing, the credit allowed is one tier higher than the credit for which the county would otherwise qualify.
(e) For a job created in a county that is not traversed by an interstate highway, the credit allowed is one tier higher than the credit for which jobs created in the county would otherwise qualify. This subitem does not apply to a job created in a county eligible for a higher tier pursuant to another provision of this item.
(f) Notwithstanding the designations in this section, counties which enter into a qualified regional development alliance are designated as least developed counties, except for counties in the alliance which are designated as distressed. A qualified regional development alliance is:
(i) composed of no less than six, nor more than ten, counties which are contiguous to each other;
(ii) at least five of the counties are designated as either distressed or but for the application of this item least developed;
(iii) the arithmetic average of at least eight of the counties, if the alliance is composed of ten counties, or six, if composed of less than ten counties annual unemployment rate is at least seventy-five percent greater than the total state annual unemployment rate; and
(iv) each of the counties adopts an ordinance pursuant to Section 13, Article VIII of the Constitution of this State and Section 4-9-41 or Section 4-1-170 which states that it will join the alliance for the purposes of promoting a regional approach to economic development. A county may not join more than one regional alliance."
B. Section 12-6-3360(C)(1) of the 1976 Code is amended to read:
"(1)(a) Eight thousand dollars for each new full-time job created in distressed counties.
(b) Four thousand five hundred dollars for each new full-time job created in least developed counties."
SECTION 2. Section 12-10-85(B) of the 1976 Code, as amended by Act 387 of 2000, is further amended to read:
(B) Rural Infrastructure Fund grants must be available to benefit counties designated as 'distressed' or 'least developed' or 'underdeveloped' as defined in Section 12-6-3360 according to guidelines established by the council, except that up to twenty-five percent of the funds annually available in excess of five ten million dollars must be set aside for grants to areas of 'underdeveloped', 'moderately developed', and 'developed' counties. A governing body of a an 'underdeveloped', 'moderately developed', or 'developed' county must apply to the council for these set-aside grants stating the reasons that certain areas of the county qualify for these grants because the conditions in that area of the county are comparable to those conditions qualifying a county as 'distressed' or 'least developed' or 'underdeveloped'."
SECTION 3. This act takes effect upon approval by the Governor.
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