The "South Carolina Community Jobs Act" is a proposed bill that aims to provide an income tax credit to eligible employers who hire specific employees. The bill defines "eligible employees" as individuals who live within a one-mile radius of the employer's facility, receive benefits from programs like Temporary Assistance for Needy Families (TANF) or Supplemental Nutrition Assistance Program (SNAP), and earn at least twenty dollars per hour. An "eligible employer" is defined as a business operating in South Carolina with a facility located within a one-mile radius of a designated low-income community.

Under the provisions of the bill, eligible employers can receive a nonrefundable tax credit of up to $1,500 for each eligible employee hired, with a cap of twenty eligible employees per year. The tax credit can be claimed for a maximum of one year for each employee and may be carried forward for up to three years. The bill also grants the department the authority to require necessary information from taxpayers for the administration of this tax credit. The act will take effect upon the Governor's approval and will apply to income tax years beginning after 2025.

Statutes affected:
12/05/2024: 12-6-3830
Latest Version: 12-6-3830