S 0051 General Bill, By Ford
 A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
 12-6-3557, SO AS TO ALLOW A STATE INCOME TAX CREDIT EQUAL TO FIFTY PERCENT OF
 THE EXPENSE OF PURCHASING AND INSTALLING A METAL DETECTOR SECURITY SYSTEM
 INSTALLED AND OPERATED BY RETAIL SPACE LANDLORDS AND INDIVIDUAL RETAILERS FOR
 THE PURPOSE OF PROVIDING CUSTOMER AND EMPLOYEE SECURITY.

   11/29/06  Senate Prefiled
   11/29/06  Senate Referred to Committee on Finance
   01/09/07  Senate Introduced and read first time SJ-48
   01/09/07  Senate Referred to Committee on Finance SJ-48

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3557, SO AS TO ALLOW A STATE INCOME TAX CREDIT EQUAL TO FIFTY PERCENT OF THE EXPENSE OF PURCHASING AND INSTALLING A METAL DETECTOR SECURITY SYSTEM INSTALLED AND OPERATED BY RETAIL SPACE LANDLORDS AND INDIVIDUAL RETAILERS FOR THE PURPOSE OF PROVIDING CUSTOMER AND EMPLOYEE SECURITY.

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

SECTION    1.    Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:

"Section 12-6-3557.    There is allowed as a credit against the tax imposed by this chapter an amount equal to fifty percent of the purchase price and installation expenses of a metal detector security system installed by a retail space landlord taxpayer or individual retail store taxpayer for use at retail space or shopping mall entrances to provide customer and employee security. Unused credit may be carried forward for ten succeeding taxable years. The Department of Revenue shall prescribe the documentation necessary to claim the credit allowed by this section."

SECTION    2.    This act takes effect upon approval by the Governor and applies for metal detector security system purchase and installation expenses incurred in taxable years beginning after 2006.