South Carolina General Assembly
115th Session, 2003-2004

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Bill 5118

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A BILL

TO AMEND SECTION 12-6-3535, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INCOME TAX CREDITS FOR MAKING QUALIFIED REHABILITATION EXPENDITURES FOR A CERTIFIED HISTORIC STRUCTURE, SO AS TO EXPAND THE TYPES OF INCOME TAXES OR LICENSE FEES OR TAXES TO WHICH THESE CREDITS APPLY AND TO FURTHER PROVIDE FOR THE MANNER IN WHICH THE CREDITS EARNED MAY BE PASSED THROUGH TO PARTNERS OR SHAREHOLDERS AND ALLOCATED AMONG PARTNERS.

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

SECTION    1.    A.        Section 12-6-3535(A) of the 1976 Code, as last amended by Act 69 of 2003, is further amended to read:

B.        Section 12-6-3535(C) of the 1976 Code, as last amended by Act 69 of 2003, is further amended to read:

SECTION    2.    The provisions of Section 1 of this act apply for any taxable years beginning on or after January 1, 2004.

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