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