South Carolina General Assembly
122nd Session, 2017-2018

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Indicates Matter Stricken
Indicates New Matter

H. 3609

STATUS INFORMATION

General Bill
Sponsors: Rep. Neal
Document Path: l:\council\bills\bbm\9592dg17.docx
Companion/Similar bill(s): 3923

Introduced in the House on January 31, 2017
Currently residing in the House Committee on Ways and Means

Summary: Tax credits

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/31/2017  House   Introduced and read first time (House Journal-page 11)
   1/31/2017  House   Referred to Committee on Ways and Means 
                        (House Journal-page 11)

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/31/2017

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

A BILL

TO AMEND SECTION 12-6-3310, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO TAX CREDITS, SO AS TO AUTHORIZE A NONPROFIT CORPORATION TO TRANSFER CREDITS UNLESS THE TRANSFER OF A CREDIT IS SPECIFICALLY PROHIBITED.

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

SECTION    1.    Section 12-6-3310 of the 1976 Code is amended by adding an appropriately lettered subsection to read:

"( )    Unless the transfer of a credit is specifically prohibited, a nonprofit corporation, organized pursuant to Chapter 31, Title 33, that qualifies for a credit pursuant to this article or any other provision of law, may transfer the credit. To be effectual, such a transfer requires written notification to, and approval by, the department with the transferred credit maintaining all of its original attributes in the hands of the recipient. Unless specifically authorized, the recipient may not transfer the acquired credit."

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

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This web page was last updated on March 7, 2017 at 4:58 PM