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3330Ratification Number: 331Act Number: 551Introducing Body: HouseSubject: Provide that for the year 1986 only, all counties with a population of twenty-five thousand or less, are also considered a less developed area for purposes of this tax credit for new jobs
(A551, R331, H3330)
A JOINT RESOLUTION TO PROVIDE THAT FOR THE YEAR 1986 ONLY, ALL COUNTIES WITH A POPULATION OF TWENTY-FIVE THOUSAND OR LESS AS DETERMINED BY THE MOST RECENT OFFICIAL UNITED STATES CENSUS, WHICH ARE NOT OTHERWISE DESIGNATED AS A LESS DEVELOPED AREA OF THE STATE PURSUANT TO SECTION 12-7-616 OF THE 1976 CODE FOR PURPOSES OF THE TAX CREDIT FOR NEW JOBS, ARE ALSO CONSIDERED A LESS DEVELOPED AREA FOR PURPOSES OF THIS TAX CREDIT FOR NEW JOBS.
Be it enacted by the General Assembly of the State of South Carolina:
Less developed areas
SECTION 1. Notwithstanding any other provision of law and for the year 1986 only, in addition to those counties which are designated as less developed areas for purposes of the tax credit for new jobs pursuant to Section 12-7-616 of the 1976 Code, all counties in the State having a population of twenty-five thousand or less as determined by the most recent official United States Census, which are not otherwise designated as a less developed area pursuant to Section 12-7-616, must also be designated as less developed areas by the Tax Commission for purposes of this tax credit for new jobs.
SECTION 2. This act shall take effect upon approval by the Governor.