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H. 3710
STATUS INFORMATION
General Bill
Sponsors: Rep. McLeod
Document Path: l:\council\bills\bbm\9866htc07.doc
Introduced in the House on March 14, 2007
Currently residing in the House Committee on Ways and Means
Summary: Job tax credit
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/14/2007 House Introduced and read first time HJ-8 3/14/2007 House Referred to Committee on Ways and Means HJ-8
View the latest legislative information at the LPITS web site
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 PROVIDE THAT IN A COUNTY DESIGNATED "MODERATELY DEVELOPED" WHICH IS CONTIGUOUS TO AT LEAST FOUR COUNTIES DESIGNATED "DISTRESSED" OR "LEAST DEVELOPED", THE CREDIT ALLOWED IS ONE TIER HIGHER THAN THE CREDIT FOR WHICH THE COUNTY WOULD OTHERWISE QUALIFY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-3360(B)(5) of the 1976 Code, as last amended by Act 390 of 2006, is further amended by adding a new subitem at the end to read:
"(i) In a county designated 'moderately developed' which is contiguous to at least four counties designated 'distressed' or 'least developed', the credit allowed is one tier higher than the credit for which the county would otherwise qualify."
SECTION 2. This act takes effect upon approval by the Governor and applies for county designations beginning 2007.
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