The bill H. 3465 aims to support grocery stores opening in food deserts in South Carolina by providing financial incentives. It introduces a new section, 12-6-3830, which establishes an income tax credit for grocers that open new locations in designated food deserts. The credit is set at ten percent of the total costs incurred in establishing the new store and can be claimed over three years. To qualify, grocers must submit an application detailing their plans for the new location, which will be reviewed by the relevant department.

Additionally, the bill amends Section 12-36-2120 to include a sales tax exemption for purchases made by grocers operating new stores in food deserts for a period of two years. This combination of tax credits and exemptions is designed to encourage the establishment of grocery stores in underserved areas, thereby improving access to fresh food for residents. The act will take effect upon approval by the Governor.

Statutes affected:
12/05/2024: 12-6-3830, 12-36-2120
02/05/2025: 12-6-3830, 12-36-2120
Latest Version: 12-6-3830, 12-36-2120