South Carolina General Assembly
116th Session, 2005-2006

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A312, R371, H4312

STATUS INFORMATION

General Bill
Sponsors: Reps. Merrill, Bailey, Altman, Coates, Brady, Mahaffey, Funderburk, Ballentine, J.E. Smith and Herbkersman
Document Path: l:\council\bills\ggs\22278htc06.doc

Introduced in the House on January 10, 2006
Introduced in the Senate on April 26, 2006
Last Amended on May 23, 2006
Passed by the General Assembly on May 25, 2006
Governor's Action: June 1, 2006, Signed

Summary: Hybrid vehicles

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  11/16/2005  House   Prefiled
  11/16/2005  House   Referred to Committee on Ways and Means
   1/10/2006  House   Introduced and read first time HJ-27
   1/10/2006  House   Referred to Committee on Ways and Means HJ-27
   1/10/2006  House   Member(s) request name added as sponsor: Funderburk
   4/20/2006  House   Committee report: Favorable with amendment Ways and 
                        Means HJ-12
   4/25/2006  House   Member(s) request name added as sponsor: Ballentine, 
                        J.E.Smith, Herbkersman
   4/25/2006  House   Amended HJ-113
   4/25/2006  House   Read second time HJ-114
   4/26/2006  House   Read third time and sent to Senate HJ-21
   4/26/2006  Senate  Introduced and read first time SJ-6
   4/26/2006  Senate  Referred to Committee on Finance SJ-6
    5/5/2006  Senate  Referred to Subcommittee: O'Dell (ch), Peeler, Reese, 
                        Short, Fair, Verdin
   5/17/2006  Senate  Committee report: Favorable with amendment Finance SJ-9
   5/18/2006  Senate  Amended SJ-68
   5/18/2006  Senate  Read second time SJ-68
   5/19/2006          Scrivener's error corrected
   5/23/2006  Senate  Amended SJ-12
   5/23/2006  Senate  Read third time and returned to House with amendments 
                        SJ-12
   5/25/2006  House   Concurred in Senate amendment and enrolled HJ-46
   5/31/2006          Ratified R 371
    6/1/2006          Signed By Governor
    6/6/2006          Copies available
    6/6/2006          Effective date See Act for Effective Date
    6/8/2006          Act No. 312

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

11/16/2005
4/20/2006
4/25/2006
5/17/2006
5/18/2006
5/19/2006
5/23/2006


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

(A312, R371, H4312)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3377 SO AS TO ALLOW A STATE INCOME TAX CREDIT EQUAL TO TWENTY PERCENT OF CERTAIN NEW HYBRID, FUEL CELL, ALTERNATIVE FUEL, OR LEAN BURN TECHNOLOGY MOTOR VEHICLE CREDITS ALLOWED AGAINST A TAXPAYER'S FEDERAL INCOME TAX LIABILITY.

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

State income tax credit

SECTION    1.    Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:

"Section 12-6-3377.    (A)    A South Carolina resident taxpayer who is eligible for and claims the new qualified fuel cell motor vehicle credit, the new advanced lean burn technology motor vehicle credit, the new qualified hybrid motor vehicle credit based on the combined city/highway metric or standard set by federal Internal Revenue Code Section 30B, and the new qualified alternative fuel motor vehicle credit allowed pursuant to Internal Revenue Code Section 30B is allowed a credit against the income taxes imposed pursuant to this chapter in an amount equal to twenty percent of that federal income tax credit. The credit allowed by this section is nonrefundable and if the amount of the credit exceeds the taxpayer's liability for the applicable taxable year, any unused credit may be carried forward and claimed in the five succeeding taxable years.

(B)    The credit amount allowed by this section must be calculated without regard to the phaseout period limits of Internal Revenue Code Section 30B(f) and for purposes of the credits allowed pursuant to this section, the provisions of Internal Revenue Code Section 30B are deemed permanent law."

Time effective and applicability

SECTION    2.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2005.

Ratified the 31st day of May, 2006.

Approved the 1st day of June, 2006.

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