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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
(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