South Carolina General Assembly
121st Session, 2015-2016

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Indicates Matter Stricken
Indicates New Matter

S. 1070

STATUS INFORMATION

General Bill
Sponsors: Senator Kimpson
Document Path: l:\s-res\mek\024stat.eb.mek.docx

Introduced in the Senate on February 9, 2016
Currently residing in the Senate Committee on Finance

Summary: Tax Credits

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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    2/9/2016  Senate  Introduced and read first time (Senate Journal-page 7)
    2/9/2016  Senate  Referred to Committee on Finance (Senate Journal-page 7)

View the latest legislative information at the website

VERSIONS OF THIS BILL

2/9/2016

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

A BILL

TO AMEND ARTICLE 25, CHAPTER 6, TITLE 12 OF THE 1976 CODE, RELATING TO TAX CREDITS, TO CREATE SECTION 12-6-3800 TO ALLOW FOR A TAXPAYER ELIGIBLE FOR A FEDERAL LOW-INCOME HOUSING TAX CREDIT TO CLAIM A LOW-INCOME STATE TAX CREDIT IN AN AMOUNT EQUAL TO THE FEDERAL TAX CREDIT.

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 12-6-3800.    A taxpayer entitled to a low-income housing tax credit pursuant to 26 U.S.C. Section 38 may claim as a credit an amount equal to the credit determined pursuant to 26 U.S.C. Section 42."

SECTION    2.    This act takes effect upon approval by the Governor.

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This web page was last updated on February 12, 2016 at 3:45 PM