South Carolina General Assembly
109th Session, 1991-1992

Bill 1291


                    Current Status

Introducing Body:               Senate
Bill Number:                    1291
Ratification Number:            371
Act Number:                     331
Primary Sponsor:                Pope
Type of Legislation:            GB
Subject:                        Job tax credit, "new
                                job"
Date Bill Passed both Bodies:   Apr 16, 1992
Computer Document Number:       CYY/18792.SD
Governor's Action:              S
Date of Governor's Action:      May 04, 1992
Introduced Date:                Feb 11, 1992
Date of Last Amendment:         Apr 15, 1992
Last History Body:              ------
Last History Date:              May 04, 1992
Last History Type:              Act No. 331
Scope of Legislation:           Statewide
All Sponsors:                   Pope
Type of Legislation:            General Bill

History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 1291  ------  May 04, 1992  Act No. 331
 1291  ------  May 04, 1992  Signed by Governor
 1291  ------  Apr 28, 1992  Ratified R 371
 1291  Senate  Apr 16, 1992  Concurred in House amendment,
                             enrolled for ratification
 1291  House   Apr 15, 1992  Amended, read third time,
                             returned to Senate with
                             amendments
 1291  House   Apr 09, 1992  Read second time
 1291  House   Mar 26, 1992  Committee Report: Favorable     30
 1291  House   Feb 18, 1992  Introduced, read first time,    30
                             referred to Committee
 1291  Senate  Feb 13, 1992  Amended, read third time,
                             sent to House
 1291  Senate  Feb 12, 1992  Read second time, ordered to
                             third reading with notice of
                             general amendments
 1291  Senate  Feb 11, 1992  Introduced, read first time,
                             placed on Calendar without
                             reference

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A331, R371, S1291)

AN ACT TO AMEND SECTION 12-7-1220, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE TAX CREDIT FOR NEW JOBS IN CERTAIN COUNTIES, SO AS TO REVISE THE DEFINITION OF THE TERM "NEW JOB" TO INCLUDE EXISTING JOBS AT A FACILITY OF AN EMPLOYER WHICH ARE REINSTATED AFTER THE EMPLOYER HAS REBUILT THE FACILITY DUE TO ITS DESTRUCTION BY ACCIDENTAL FIRE, NATURAL DISASTER, OR ACT OF GOD.

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

New job tax credit, definition of new job revised

SECTION 1. Section 12-7-1220(H)(1) of the 1976 Code is amended to read:

"(1) `New job' means a job created by an employer in South Carolina at the time a new facility or an expansion initially is staffed but does not include a job created when an employee is shifted from an existing South Carolina location to a new or expanded facility. The term `new job' also includes existing jobs at a facility of an employer which are reinstated after the employer has rebuilt the facility due to its destruction by accidental fire, natural disaster, or act of God. Destruction for purposes of this provision means that more than fifty percent of the facility was destroyed. The year of reinstatement is considered to be the year of creation of the job. All such jobs so reinstated qualify for the credit under this section, and no comparison is required to be made between the number of full-time jobs of the employer in the taxable year and the number of full-time jobs of the employer with the corresponding period of the prior taxable year."

Time effective

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

Approved the 4th day of May, 1992.