The proposed bill, known as the "Pregnancy Resource Act," aims to establish a tax credit for individuals who make voluntary cash contributions to eligible pregnancy resource centers or crisis pregnancy centers in South Carolina. The bill introduces Section 12-6-3383 to the South Carolina Code of Laws, defining eligible charitable organizations and outlining the criteria they must meet to qualify for the tax credit. Key requirements include that no more than twenty percent of contributions can be used for administrative purposes, and organizations must provide services related to child welfare and pregnancy support. Taxpayers can receive a credit of up to fifty percent of their total tax liability for contributions made during the taxable year, with unused credits eligible to be carried forward for five years.

Additionally, the bill stipulates that eligible organizations must certify their compliance with specific criteria, including a prohibition on providing or funding abortions. The Department of Revenue will oversee the allocation of tax credits, which is capped at $3.5 million annually, increasing to $10 million starting in 2026. The bill also includes provisions for the allocation of credits among partners in pass-through entities and establishes a process for the department to review and maintain a list of eligible organizations. The act will take effect upon the Governor's approval.

Statutes affected:
12/11/2024: 12-6-3383
03/26/2025: 12-6-3383
03/28/2025: 12-6-3383
04/01/2025: 12-6-3383
04/03/2025: 12-6-3383
Latest Version: 12-6-3383