S 0436 {Rat #102, Act #83 of 2021} General Bill, By Cromer, Shealy, Rice, Talley, 
K.Johnson, Scott, Turner, Alexander and Gambrell

Similar(H 4093)
 AN ACT TO AMEND SECTION 12-6-3530, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA,
 1976, RELATING TO COMMUNITY DEVELOPMENT TAX CREDITS, SO AS TO AUTHORIZE AN
 ADDITIONAL THREE MILLION DOLLARS IN CREDITS. - ratified title

   01/12/21  Senate Introduced and read first time
                     (Senate Journal-page 311)
   01/12/21  Senate Referred to Committee on Finance
                     (Senate Journal-page 311)
   03/31/21  Senate Committee report: Favorable with amendment
                     Finance (Senate Journal-page 8)
   04/01/21         Scrivener's error corrected
   04/07/21  Senate Committee Amendment Adopted (Senate Journal-page 52)
   04/07/21  Senate Read second time (Senate Journal-page 52)
   04/07/21  Senate Roll call Ayes-43  Nays-0 (Senate Journal-page 52)
   04/08/21  Senate Read third time and sent to House
                     (Senate Journal-page 38)
   04/13/21  House  Introduced and read first time (House Journal-page 8)
   04/13/21  House  Referred to Committee on Ways and Means
                     (House Journal-page 8)
   05/04/21  House  Committee report: Favorable Ways and Means
                     (House Journal-page 74)
   05/06/21  House  Debate adjourned until  Tues., 5-11-21
                     (House Journal-page 17)
   05/11/21  House  Debate adjourned until  Wed., 5-12-21
                     (House Journal-page 20)
   05/12/21  House  Amended (House Journal-page 82)
   05/12/21  House  Read second time (House Journal-page 82)
   05/12/21  House  Roll call Yeas-110  Nays-0 (House Journal-page 85)
   05/13/21  House  Read third time and returned to Senate with
                     amendments (House Journal-page 27)
   05/13/21  Senate House amendment amended (Senate Journal-page 11)
   05/13/21  Senate Roll call Ayes-45  Nays-0 (Senate Journal-page 11)
   05/13/21  Senate Returned to House with amendments
                     (Senate Journal-page 11)
   05/13/21  House  Concurred in Senate amendment and enrolled
                     (House Journal-page 44)
   05/13/21  House  Roll call Yeas-90  Nays-0 (House Journal-page 44)
   05/18/21         Ratified R  102
   05/18/21         Signed By Governor
   06/01/21         Effective date  05/18/21
   06/01/21         Act No.  83

(A83, R102, S436)

AN ACT TO AMEND SECTION 12-6-3530, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO COMMUNITY DEVELOPMENT TAX CREDITS, SO AS TO AUTHORIZE AN ADDITIONAL THREE MILLION DOLLARS IN CREDITS.

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

Additional community development tax credits, authorization

SECTION    1.    Section 12-6-3530(B) of the 1976 Code, as last amended by Act 77 of 2019, is further amended by adding an appropriately numbered item to read:

"( )    Notwithstanding items (1) and (2), the aggregate limit for all taxpayers in all tax years set forth in items (1) and (2) is increased by three million dollars. Of this additional three million dollars, only one million dollars may be used for credits earned and certificates issued in tax year 2021, and the remaining two million dollars only may be used for credits earned and certificates issued for tax years beginning after 2021."

Time effective

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

Ratified the 18th day of May, 2021.

Approved the 18th day of May, 2021.