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Session 126 - (2025-2026)Printer Friendly
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H 5006 General Bill, By B. Newton, Long, Hewitt, M.M. Smith, Gatch, Schuessler, Stavrinakis, Hiott, Pope, Erickson, Hixon, Neese, Wooten, Ligon, Chapman, Forrest, Hartz, Guffey, Ford, Willis, Cox, Sanders, Vaughan, Oremus, Duncan, G.M. Smith, Bowers, Sessions, Bannister, Bailey, Brewer, Weeks, Landing, Moss, Bradley, Lawson, Rankin, Guest, Brittain, Lowe, T. Moore, Ballentine, Robbins, Martin, Caskey, Pedalino, Calhoon, Davis, W. Newton, C. Mitchell, Holman, Hardee, Taylor, Yow, Jordan, Haddon and Wickensimer
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "STATE OF SOUTH CAROLINA SMALL BUSINESS TAX CUT OF 2026"; BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY OWNED BY A SMALL BUSINESS; BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; BY ADDING SECTION 12-37-980 SO AS TO REQUIRE THAT ALL BUSINESS PERSONAL PROPERTY REQUIRED TO BE RETURNED FOR TAXATION TO BE RETURNED TO THE DEPARTMENT OF REVENUE; BY AMENDING SECTION 12-20-50, RELATING TO THE LICENSE TAX ON CORPORATIONS, SO AS TO PROVIDE THAT, UNDER CERTAIN CIRCUMSTANCES, THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS; AND BY AMENDING SECTION 33-44-409, RELATING TO STANDARDS OF CONDUCT OF A CORPORATE OFFICER, SO AS TO PROVIDE AN EXCEPTION TO REFRAINING FROM COMPETING.
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A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "STATE OF SOUTH CAROLINA SMALL BUSINESS TAX CUT OF 2026"; BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY OWNED BY A SMALL BUSINESS; BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; BY ADDING SECTION 12-37-980 SO AS TO REQUIRE THAT ALL BUSINESS PERSONAL PROPERTY REQUIRED TO BE RETURNED FOR TAXATION TO BE RETURNED TO THE DEPARTMENT OF REVENUE; BY AMENDING SECTION 12-20-50, RELATING TO THE LICENSE TAX ON CORPORATIONS, SO AS TO PROVIDE THAT, UNDER CERTAIN CIRCUMSTANCES, THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS; AND BY AMENDING SECTION 33-44-409, RELATING TO STANDARDS OF CONDUCT OF A CORPORATE OFFICER, SO AS TO PROVIDE AN EXCEPTION TO REFRAINING FROM COMPETING.
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| 01/22/26 | House | Introduced and read first time (House Journal-page 27) |
| 01/22/26 | House | Referred to Committee on Ways and Means (House Journal-page 27) |
| 01/27/26 | House | Member(s) request name added as sponsor: G.M.Smith |
| 01/28/26 | House | Member(s) request name added as sponsor: Bowers, Sessions, Bannister, Bailey |
| 01/29/26 | House | Member(s) request name added as sponsor: Brewer, Weeks |
| 02/03/26 | House | Member(s) request name added as sponsor: Landing, Moss, Bradley, Lawson, Rankin, Guest, Brittain, Lowe, T.Moore, Ballentine, Robbins, Martin, Caskey, Pedalino, Calhoon, Davis, W.Newton, C.Mitchell, Holman, Hardee, Taylor, Yow, Jordan, Haddon, Wickensimer |
| 02/03/26 | House | Committee report: Favorable with amendment Ways and Means (House Journal-page 5) |
| 02/04/26 | House | Requests for debate-Rep(s). B Newton, McCravy, Lawson, Frank, Martin, Weeks, Jones, Vaughan (House Journal-page 19) |
| 02/04/26 | Scrivener's error corrected |