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H. 3923
STATUS INFORMATION
General Bill
Sponsors: Rep. Weeks
Document Path: l:\council\bills\bbm\9643dg17.docx
Companion/Similar bill(s): 3609
Introduced in the House on March 7, 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 ------------------------------------------------------------------------------- 3/7/2017 House Introduced and read first time (House Journal-page 76) 3/7/2017 House Referred to Committee on Ways and Means (House Journal-page 76)
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VERSIONS OF THIS 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.
This web page was last updated on
March 10, 2017 at 2:45 PM