South Carolina General Assembly
111th Session, 1995-1996

Bill 1265


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                       1265
Type of Legislation:               General Bill GB
Introducing Body:                  Senate
Introduced Date:                   19960320
Primary Sponsor:                   McConnell 
All Sponsors:                      McConnell 
Drafted Document Number:           res9951.gfm
Residing Body:                     Senate
Current Committee:                 Finance Committee 06 SF
Subject:                           Income tax credits for foster
                                   parents



History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

Senate  19960320  Introduced, read first time,             06 SF
                  referred to Committee

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

A BILL

TO AMEND SECTION 12-6-3380 OF THE CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO TAX CREDITS FOR CHILD AND DEPENDENT CARE, SO AS TO PROVIDE A TAX CREDIT FOR FOSTER PARENTS WHO INCUR AFTER-SCHOOL AND DAY CARE EXPENSES FOR FOSTER CHILDREN RESIDING IN THEIR HOMES.

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

SECTION 1. Section 12-6-3380 of the 1976 Code is amended to read:

"Section 12-6-3380. (A) An individual may claim an income tax credit for child and dependent care expenses. The credit is computed as provided in Internal Revenue Code Section 21, except that the term `applicable percentage' means seven percent and is not reduced, and only expenses that are directly attributable to items of South Carolina gross income qualify for the credit.

(B) An individual may claim the income tax credit for child and dependent care provided in subsection (A) for any period during the tax year where expenses were incurred relating to after-school and day care services on behalf of a foster child residing in the individual's home.

(C) If a nonresident taxpayer is a resident of a state which does not allow a resident of this State credit for child and dependent care expenses, the nonresident taxpayer is not allowed credit on the South Carolina income tax return for child and dependent care expenses."

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

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