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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3477 SO AS TO ALLOW A CREDIT AGAINST THE STATE INCOME TAX EQUAL TO ONE THOUSAND DOLLARS IN A TAXABLE YEAR FOR A TAXPAYER EMPLOYING AN APPRENTICE IN AN APPRENTICESHIP PROGRAM REGISTERED WITH THE UNITED STATES DEPARTMENT OF LABOR, TO ALLOW UNUSED CREDIT TO CARRY FORWARD TO FIVE SUCCEEDING TAXABLE YEARS, AND TO PROVIDE FOR THE ADMINISTRATION OF THIS CREDIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-3477. A taxpayer who employs an apprentice pursuant to an apprentice agreement registered with the Office of Apprenticeship of the Employment and Training Administration of the United States Department of Labor is allowed a credit against an income tax imposed pursuant to this chapter equal to one thousand dollars. A credit is not allowed unless the apprentice was in the employ of the taxpayer for at least seven full months of the taxable year and a credit is not allowed for an individual apprentice for more than four taxable years. The department shall prescribe a form to claim this credit that provides information to the department sufficient for the proper administration of this credit."
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2007.
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