South Carolina General Assembly
124th Session, 2021-2022

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A83, R102, S436

STATUS INFORMATION

General Bill
Sponsors: Senators Cromer, Shealy, Rice, Talley, K. Johnson, Scott, Turner, Alexander and Gambrell
Document Path: l:\council\bills\nbd\11133sa21.docx
Companion/Similar bill(s): 4093

Introduced in the Senate on January 12, 2021
Introduced in the House on April 13, 2021
Last Amended on May 13, 2021
Passed by the General Assembly on May 13, 2021
Governor's Action: May 18, 2021, Signed

Summary: Community development tax credits

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   1/12/2021  Senate  Introduced and read first time (Senate Journal-page 311)
   1/12/2021  Senate  Referred to Committee on Finance 
                        (Senate Journal-page 311)
   3/31/2021  Senate  Committee report: Favorable with amendment Finance 
                        (Senate Journal-page 8)
    4/1/2021          Scrivener's error corrected
    4/7/2021  Senate  Committee Amendment Adopted (Senate Journal-page 52)
    4/7/2021  Senate  Read second time (Senate Journal-page 52)
    4/7/2021  Senate  Roll call Ayes-43  Nays-0 (Senate Journal-page 52)
    4/8/2021  Senate  Read third time and sent to House 
                        (Senate Journal-page 38)
   4/13/2021  House   Introduced and read first time (House Journal-page 8)
   4/13/2021  House   Referred to Committee on Ways and Means 
                        (House Journal-page 8)
    5/4/2021  House   Committee report: Favorable Ways and Means 
                        (House Journal-page 74)
    5/6/2021  House   Debate adjourned until  Tues., 5-11-21 
                        (House Journal-page 17)
   5/11/2021  House   Debate adjourned until  Wed., 5-12-21 
                        (House Journal-page 20)
   5/12/2021  House   Amended (House Journal-page 82)
   5/12/2021  House   Read second time (House Journal-page 82)
   5/12/2021  House   Roll call Yeas-110  Nays-0 (House Journal-page 85)
   5/13/2021  House   Read third time and returned to Senate with amendments 
                        (House Journal-page 27)
   5/13/2021  Senate  House amendment amended (Senate Journal-page 11)
   5/13/2021  Senate  Roll call Ayes-45  Nays-0 (Senate Journal-page 11)
   5/13/2021  Senate  Returned to House with amendments 
                        (Senate Journal-page 11)
   5/13/2021  House   Concurred in Senate amendment and enrolled 
                        (House Journal-page 44)
   5/13/2021  House   Roll call Yeas-90  Nays-0 (House Journal-page 44)
   5/18/2021          Ratified R  102
   5/18/2021          Signed By Governor
    6/1/2021          Effective date  05/18/21
    6/1/2021          Act No.  83

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/12/2021
3/31/2021
4/1/2021
4/7/2021
5/4/2021
5/12/2021
5/13/2021


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

(A83, R102, S436)

AN ACT TO AMEND SECTION 12-6-3530, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMUNITY DEVELOPMENT TAX CREDITS, SO AS TO AUTHORIZE AN ADDITIONAL THREE MILLION DOLLARS IN CREDITS.

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

Additional community development tax credits, authorization

SECTION    1.    Section 12-6-3530(B) of the 1976 Code, as last amended by Act 77 of 2019, is further amended by adding an appropriately numbered item to read:

"( )    Notwithstanding items (1) and (2), the aggregate limit for all taxpayers in all tax years set forth in items (1) and (2) is increased by three million dollars. Of this additional three million dollars, only one million dollars may be used for credits earned and certificates issued in tax year 2021, and the remaining two million dollars only may be used for credits earned and certificates issued for tax years beginning after 2021."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor.

Ratified the 18th day of May, 2021.

Approved the 18th day of May, 2021.

__________


This web page was last updated on June 14, 2021 at 9:31 AM