Current Status Bill Number:4723 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19980226 Primary Sponsor:Knotts All Sponsors:Knotts, Koon, Howard, Sandifer, Scott, Simrill, Campsen, Mason, Kelley, Bowers, Whatley, Bailey, Cotty, Lloyd, Neal, Sharpe, R. Smith, Breeland, Rice, Chellis, Moody-Lawrence, McCraw, Riser, Rodgers, Meacham, Young-Brickell, Davenport, Law, Bowers Drafted Document Number:dka\4723mm.98 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Income tax credit, tuition paid to state college for students maintaining "C" average; Taxation, Universities
Body Date Action Description Com Leg Involved
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House 19980303 Co-Sponsor added (Rule 5.2) by Rep. Bowers
House 19980226 Introduced, read first time, 30 HWM
referred to Committee
View additional legislative information at the LPITS web site.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3510 SO AS TO ALLOW A TAX CREDIT AGAINST THE SOUTH CAROLINA INCOME TAX LIABILITY OF RESIDENT INDIVIDUALS FOR TUITION PAID TO A PUBLIC OR PRIVATE INSTITUTION OF HIGHER LEARNING IN THIS STATE FOR STUDENTS WHO MAINTAIN A "C" GRADE POINT AVERAGE.
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 12-6-3510. (A) Resident individual taxpayers who pay tuition to a public or private institution of higher learning in this State for themselves are allowed an income tax credit for the applicable tuition paid, so long as they maintain a 'C' grade point average at the end of each semester, quarter, or other grading period.
(B) Resident individual taxpayers who pay tuition to a public or private institution of higher learning in this State for their children under the age of twenty-three years are allowed an income tax credit for the applicable tuition paid for those children, so long as their children maintain a 'C' grade point average at the end of each semester, quarter, or other grading period.
(C) Resident individual taxpayers who qualify for the income tax credits in subsections (A) and (B) may claim both credits.
(D) Unused credit may be carried forward for the five succeeding taxable years. The department may require appropriate documentation for claiming the credit."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 1997.