South Carolina General Assembly
118th Session, 2009-2010

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H. 4662

STATUS INFORMATION

General Bill
Sponsors: Reps. Rice and Gunn
Document Path: l:\council\bills\bbm\9604htc10.docx

Introduced in the House on March 2, 2010
Currently residing in the House Committee on Ways and Means

Summary: Income tax credit

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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    3/2/2010  House   Introduced and read first time HJ-34
    3/2/2010  House   Referred to Committee on Ways and Means HJ-35

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

3/2/2010

(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 12-6-3382 SO AS TO ALLOW A STATE INDIVIDUAL INCOME TAX CREDIT FOR EXPENSES INCURRED BY THE TAXPAYER, NOT TO EXCEED SEVEN HUNDRED FIFTY DOLLARS, TO UPGRADE THE TAXPAYER'S RESIDENCE TO MEET THE STANDARDS OF THE SOUTH CAROLINA DEPARTMENT OF SOCIAL SERVICES (DSS) AND APPLICABLE BUILDING CODE REQUIREMENTS IN ORDER FOR THE TAXPAYER TO QUALIFY AS A DSS FOSTER PARENT.

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 12-6-3382.    There is allowed as a nonrefundable credit against a taxpayer's South Carolina individual income tax liability expenses incurred by the taxpayer, not exceeding seven hundred fifty dollars, to upgrade the taxpayer's primary residence to meet South Carolina Department of Social Services (DSS) standards and applicable building code requirements necessary for the taxpayer to qualify as a DSS foster parent. To receive credit, the taxpayer must have applied for and be otherwise eligible to serve as a DSS foster parent. Unused credit may be carried forward to five succeeding taxable years. The Department of Revenue may prescribe the documentation necessary to document the expenses giving rise to the credit."

SECTION    2.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2009.

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