The "South Carolina Community Jobs Act" is a proposed bill aimed at providing 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 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 will take effect upon approval by the Governor and will apply to income tax years beginning after 2025.

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