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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.
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