H 3744 General Bill, By J.T. McElveen
 A Bill to amend Sections 8-13-1300 and 8-13-1314, both as amended, Code of
 Laws of South Carolina, 1976, relating to definitions concerning campaign
 practices and campaign contribution limits and restrictions, so as to prohibit
 a candidate or anyone acting on his behalf from soliciting or accepting a
 contribution from a bank, corporation, partnership, firm, or noncandidate
 committee, as defined in Section 8-13-1300 and to amend Article 10, Chapter 7,
 Title 12 of the 1976 Code by adding Section 12-7-1213, so as to provide a tax
 credit of twenty-five dollars to individuals for political contributions.

   03/18/93  House  Introduced and read first time HJ-18
   03/18/93  House  Referred to Committee on Judiciary HJ-18
   05/20/93  House  Committee report: Favorable with amendment
                     Judiciary HJ-2
   05/27/93  House  Point of order- Fiscal impact statement needed HJ-147
   06/01/93  House  Debate adjourned until Wednesday, June 2, 1993 HJ-8
   06/02/93  House  Amended HJ-22
   06/02/93  House  Read second time HJ-23
   06/03/93  House  Read third time and sent to Senate HJ-16
   06/03/93  Senate Introduced and read first time SJ-22
   06/03/93  Senate Referred to Committee on Judiciary SJ-22

AMENDED

June 2, 1993

H. 3744

S. Printed 6/2/93--H.

Read the first time May 18, 1993.

This Bill amends Section 8-13-1300 and 8-13-1314, both as amended, relating to definitions concerning campaign practices and campaign contribution limits and restrictions, so as to prohibit a candidate or anyone acting on his behalf from soliciting or accepting a contribution from a bank, corporation, partnership, firm, or noncandidate committee, as defined in Section 8-13-1300, and to amend Article 10, Chapter 7, Title 12 of the 1976 Code by adding Section 12-7-1213, so as to provide a tax credit of twenty-five dollars to individuals for political contributions.

This Bill would reduce General Fund individual income tax revenue by approximately $1,000,000 per year.

Based on information provided by the State Ethics Commission, Section three of this legislation would enable approximately 40,000 contributors to political candidates a $25 income tax credit.

Approved By:

A. Crawford Clarkson, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTIONS 8-13-1300 AND 8-13-1314, BOTH AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS CONCERNING CAMPAIGN PRACTICES AND CAMPAIGN CONTRIBUTION LIMITS AND RESTRICTIONS, SO AS TO PROHIBIT A CANDIDATE OR ANYONE ACTING ON HIS BEHALF FROM SOLICITING OR ACCEPTING A CONTRIBUTION FROM A BANK, CORPORATION, PARTNERSHIP, FIRM, OR NONCANDIDATE COMMITTEE, AS DEFINED IN SECTION 8-13-1300, AND TO AMEND ARTICLE 10, CHAPTER 7, TITLE 12 OF THE 1976 CODE BY ADDING SECTION 12-7-1213, SO AS PROVIDE A TAX CREDIT OF TWENTY-FIVE DOLLARS TO INDIVIDUALS FOR POLITICAL CONTRIBUTIONS.

Amend Title To Conform

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

SECTION 1. Article 10, Chapter 7, Title 12 of the 1976 Code is amended by adding:

"Section 12-7-1213. There is allowed as a credit against the individual income tax imposed pursuant to Section 12-7-210 the amount of political contributions made by the taxpayer to a candidate or committee subject to the contribution limitation imposed pursuant to Chapter 13 of Title 8. The total credit allowed under this section may not exceed twenty-five dollars in a taxable year per taxpayer."

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