Download This Version in Microsoft Word format
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3800 SO AS TO PROVIDE FOR AN INCOME TAX CREDIT FOR CERTAIN TEACHERS MAKING CERTAIN TUITION PAYMENTS IN THE TAX YEAR.
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 resident taxpayer who is a certified public school K-12 teacher is entitled to a refundable tax credit against income taxes imposed pursuant to this chapter for tuition payments, not exceeding eleven thousand dollars in each tax year for each taxpayer, made to an accredited college in which he is pursuing a master's degree in education as recognized by a list of programs compiled by the South Carolina Education Oversight Committee. A resident taxpayer only may claim the credit for tuition payments made during the tax year. Tax credits authorized pursuant to this section annually may not exceed cumulatively a total of two million dollars. The resident taxpayer shall claim the credit allowed by this section on the resident taxpayer's income tax return in a manner prescribed by the department. The department may require any documentation it considers necessary to implement the provisions of this section."
SECTION 2. This act takes effect upon approval of the Governor and applies to income tax years after 2018.
This web page was last updated on December 18, 2018 at 6:11 PM