H 4549 General Bill, By W.D. Smith, Scarborough, McLeod and Knotts
 A BILL TO AMEND SECTION 12-6-3360, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO THE TARGETED JOBS TAX CREDIT, SO AS TO ALLOW AN ADDITIONAL
 CREDIT EQUAL TO ONE THOUSAND DOLLARS FOR AN OTHERWISE QUALIFYING NEWLY CREATED
 JOB IF THE JOB IS CREATED AT A FACILITY ON PROPERTY WHICH HAS BEEN THE SUBJECT
 OF A COMPLETED RESPONSE ACTION PURSUANT TO A NONRESPONSIBLE PARTY VOLUNTARY
 CLEANUP CONTRACT UNDER ARTICLE 7, CHAPTER 56, TITLE 44 OF THE 1976 CODE, THE
 BROWNFIELDS VOLUNTARY CLEANUP PROGRAM.

   01/22/02  House  Introduced and read first time HJ-11
   01/22/02  House  Referred to Committee on Ways and Means HJ-11
   02/14/02  House  Recalled from Committee on Ways and Means HJ-25
   02/14/02  House  Referred to Committee on Agriculture, Natural
                     Resources and Environmental Affairs HJ-25
   02/14/02  House  Member(s) request name added as sponsor: McLeod
   02/20/02  House  Member(s) request name added as sponsor: Knotts

TO AMEND SECTION 12-6-3360, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TARGETED JOBS TAX CREDIT, SO AS TO ALLOW AN ADDITIONAL CREDIT EQUAL TO ONE THOUSAND DOLLARS FOR AN OTHERWISE QUALIFYING NEWLY CREATED JOB IF THE JOB IS CREATED AT A FACILITY ON PROPERTY WHICH HAS BEEN THE SUBJECT OF A COMPLETED RESPONSE ACTION PURSUANT TO A NONRESPONSIBLE PARTY VOLUNTARY CLEANUP CONTRACT UNDER ARTICLE 7, CHAPTER 56, TITLE 44 OF THE 1976 CODE, THE BROWNFIELDS VOLUNTARY CLEANUP PROGRAM.

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

SECTION    1.    Section 12-6-3360(E) of the 1976 Code is amended to read:

    "(E)(1)        Taxpayers which qualify for the job tax credit provided in subsection (C) and which are located in a business or industrial park jointly established and developed by a group of counties pursuant to Section 13 of Article VIII of the Constitution of this State are allowed an additional one thousand dollar credit for each new full-time job created. This additional credit is permitted for five years beginning in the taxable year following the creation of the job.

        (2)    Taxpayers which otherwise qualify for the job tax credit provided in subsection (C) and which are located and the qualifying jobs are located on property where a response action has been completed pursuant to a nonresponsible party voluntary cleanup contract pursuant to Article 7, Chapter 56 of Title 44, the Brownfields Voluntary Cleanup Program, are allowed an additional one thousand dollar credit for each new full-time job created. This additional credit is permitted for five years beginning in the taxable year following the creation of the job. No credit under this item is allowed a taxpayer that is a 'responsible party' as defined in that article."

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