South Carolina General Assembly
116th Session, 2005-2006

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A390, R318, H4951

STATUS INFORMATION

General Bill
Sponsors: Rep. Cobb-Hunter
Document Path: l:\council\bills\bbm\9372htc06.doc

Introduced in the House on April 5, 2006
Introduced in the Senate on April 26, 2006
Passed by the General Assembly on May 11, 2006
Governor's Action: May 24, 2006, Vetoed
Legislative veto action(s): Veto overridden

Summary: Job tax credit

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    4/5/2006  House   Introduced and read first time HJ-7
    4/5/2006  House   Referred to Committee on Ways and Means HJ-7
   4/20/2006  House   Committee report: Favorable Ways and Means HJ-5
   4/25/2006  House   Read second time HJ-78
   4/26/2006  House   Read third time and sent to Senate HJ-18
   4/26/2006  Senate  Introduced and read first time SJ-17
   4/26/2006  Senate  Referred to Committee on Finance SJ-17
    5/9/2006  Senate  Recalled from Committee on Finance SJ-2
    5/9/2006  Senate  Read second time SJ-2
    5/9/2006  Senate  Unanimous consent for third reading on next legislative 
                        day SJ-2
   5/11/2006          Scrivener's error corrected
   5/11/2006  Senate  Read third time and enrolled SJ-2
   5/18/2006          Ratified R 318
   5/24/2006          Vetoed by Governor
   5/30/2006  House   Veto overridden by originating body Yeas-83  Nays-16 
                        HJ-31
   6/14/2006  Senate  Veto overridden Yeas-45  Nays-0 SJ-75
   6/21/2006          Copies available
   6/21/2006          Effective date See Act for Effective Date
   6/28/2006          Act No. 390

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/5/2006
4/20/2006
5/9/2006
5/11/2006


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A390, R318, H4951)

AN ACT 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 PROVIDE THAT IN A COUNTY OF AT LEAST ONE THOUSAND SQUARE MILES IN SIZE AND WHICH HAS HAD AN UNEMPLOYMENT RATE GREATER THAN THE STATE AVERAGE AND AN AVERAGE PER CAPITA INCOME LOWER THAN THE STATE AVERAGE PER CAPITA INCOME FOR THE PAST TEN YEARS AND WHICH IS OTHERWISE NOT ELIGIBLE FOR ANY SPECIAL CLASSIFICATION, THE TARGETED JOBS TAX CREDIT ALLOWED IN THE COUNTY IS TWO TIERS HIGHER THAN THE CREDIT FOR WHICH THE COUNTY WOULD OTHERWISE QUALIFY.

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

Jobs tax credit

SECTION    1.    Section 12-6-3360(B)(5) of the 1976 Code, as last amended by Act 161 of 2005, is further amended by adding a subitem at the end of the item to read:

"(g)    In a county which is at least one thousand square miles in size and which has had an unemployment rate greater than the state average for the past ten years and an average per capita income lower than the average state per capita income for the past ten years, and which is not included in any of the county classifications contained in subitems (a) through (f) of this item, the credit allowed is two tiers higher than the credit for which the county otherwise would qualify."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2005 and applies for any company which applied for job development credits pursuant to Section 12-6-3360 of the 1976 Code after 2005.

Ratified the 18th day of May, 2006.

Vetoed by the Governor -- 5/24/06.

Veto overridden by House -- 5/30/06.

Veto overridden by Senate -- 6/14/06.

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This web page was last updated on Friday, December 4, 2009 at 3:53 P.M.