Reference is to Printer's Date 2/28/19--H.
Amend the bill, as and if amended, Subpart IV, "Incentives", PART V, "Educator Development and Satisfaction", by adding an appropriately numbered SECTION at the end to read:
/ SECTION ___.A. Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-3800.
(A) A qualified taxpayer in a
qualified county is allowed a refundable income tax credit equal
to one hundred percent of the property taxes paid by the
taxpayer on his legal residence and not more than one acre
contiguous thereto that he owns, which qualifies for the four
percent assessment ratio pursuant to Section 12-43-220(c). The
credit allowed by this section only may be claimed for five
consecutive years. To claim the credit allowed by this section,
the taxpayer's legal residence for which he is receiving the
credit allowed by this section must be located in a qualifying
county. For purposes of this section, a qualified taxpayer means
an employee who is employed in a qualifying county as a teacher
in a K-12 public school. For purposes of this section, a
qualifying county is a county designated as a Tier IV county,
pursuant to Section 12-6-3360, in the previous tax year;
however, once a taxpayer is allowed the credit pursuant to this
section, the taxpayer may continue to claim the credit
regardless of a county's designation, so long as the county of
employment and the county of residency remains the same as the
year the taxpayer was initially allowed the credit.
(B) A taxpayer shall
claim the credit in the year in which the property taxes are
paid.
(C) The department
shall prescribe the form and manner of proof required to obtain
the credit. The department may consult with county tax officials
to determine the amount of the credit."
B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. /
Renumber sections to conform.
Amend title to conform.