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TO AMEND SECTION 12-6-3360, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO JOB TAX CREDITS, SO AS TO PROHIBIT THE DEPARTMENT OF REVENUE FROM CHANGING A COUNTY'S DESIGNATION TO RESULT IN THE AMOUNT OF JOB TAX CREDITS AVAILABLE TO A TAXPAYER IN THE COUNTY TO BE LOWERED BY MORE THAN ONE TIER THAN IN THE PREVIOUS YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-3360(B) of the 1976 Code, as last amended by Act 390 of 2006, is further amended by adding:
"(6) Notwithstanding the provisions of this subsection, the department shall not change a county's designation so as to result in the amount of job tax credits available to a taxpayer in the county to be lowered by more than one tier than in the previous year."
SECTION 2. This act takes effect upon approval by the Governor.
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