The bill S. 273 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. Additionally, the bill defines a "food desert" as an area where at least thirty-three percent of the population lives more than one mile from a grocery store, and it outlines the application process for grocers to claim the tax credit.

Furthermore, 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 exemption is intended to alleviate some of the financial burdens associated with stocking and operating these new locations. The bill is set to take effect upon approval by the Governor.

Statutes affected:
01/28/2025: 12-6-3830, 12-36-2120
Latest Version: 12-6-3830, 12-36-2120