South Carolina General Assembly
116th Session, 2005-2006

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S. 369

STATUS INFORMATION

General Bill
Sponsors: Senator Ford
Document Path: l:\council\bills\ggs\22870htc05.doc

Introduced in the Senate on January 27, 2005
Currently residing in the Senate Committee on Finance

Summary: Income tax credit provided for installing a metal detector security system

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/27/2005  Senate  Introduced and read first time SJ-8
   1/27/2005  Senate  Referred to Committee on Finance SJ-8

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/27/2005

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

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3557, SO AS TO ALLOW A STATE INCOME TAX CREDIT EQUAL TO FIFTY PERCENT OF THE EXPENSE OF PURCHASING AND INSTALLING A METAL DETECTOR SECURITY SYSTEM INSTALLED AND OPERATED BY RETAIL SPACE LANDLORDS AND INDIVIDUAL RETAILERS FOR THE PURPOSE OF PROVIDING CUSTOMER AND EMPLOYEE SECURITY.

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 12-6-3557.    There is allowed as a credit against the tax imposed by this chapter an amount equal to fifty percent of the purchase price and installation expenses of a metal detector security system installed by a retail space landlord taxpayer or individual retail store taxpayer for use at retail space or shopping mall entrances to provide customer and employee security. Unused credit may be carried forward for ten succeeding taxable years. The Department of Revenue shall prescribe the documentation necessary to claim the credit allowed by this section."

SECTION    2.    This act takes effect upon approval by the Governor and applies for metal detector security system purchase and installation expenses incurred in taxable years beginning after 2004.

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