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Indicates Matter Stricken
Indicates New Matter
S. 362
STATUS INFORMATION
General Bill
Sponsors: Senator Kimpson
Document Path: l:\s-res\mek\020tax .sp.mek.docx
Introduced in the Senate on February 7, 2017
Currently residing in the Senate Committee on Finance
Summary: Income tax credit
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/7/2017 Senate Introduced and read first time (Senate Journal-page 5)
2/7/2017 Senate Referred to Committee on Finance (Senate Journal-page 5)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND ARTICLE 25, CHAPTER 6, TITLE 12 OF THE 1976 CODE, RELATING TO TAX CREDITS, BY ADDING SECTION 12-6-3800, TO ALLOW A TAXPAYER WHO IS 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.
This web page was last updated on
February 10, 2017 at 2:05 PM