(A83, R102, S436)

AN ACT TO AMEND SECTION 12-6-3530, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMUNITY DEVELOPMENT TAX CREDITS, SO AS TO AUTHORIZE AN ADDITIONAL THREE MILLION DOLLARS IN CREDITS.

Be it enacted by the General Assembly of the State of South Carolina:

Additional community development tax credits, authorization

SECTION     1.     Section 12-6-3530(B) of the 1976 Code, as last amended by Act 77 of 2019, is further amended by adding an appropriately numbered item to read:

"( )     Notwithstanding items (1) and (2), the aggregate limit for all taxpayers in all tax years set forth in items (1) and (2) is increased by three million dollars. Of this additional three million dollars, only one million dollars may be used for credits earned and certificates issued in tax year 2021, and the remaining two million dollars only may be used for credits earned and certificates issued for tax years beginning after 2021."

Time effective

SECTION     2.     This act takes effect upon approval by the Governor.

Ratified the 18th day of May, 2021.

Approved the 18th day of May, 2021.

This web page was last updated on June 14, 2021 at 9:31 AM