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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3760 SO AS TO ALLOW A REFUNDABLE TAX CREDIT FOR COSTS AND EXPENSES INCURRED BY A TAXPAYER RELATED TO PURCHASING AND MAINTAINING IDENTITY FRAUD AND THEFT PROTECTION SERVICES.
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 12-6-3760. There is allowed as a refundable tax credit against the income tax liability of a taxpayer imposed by this chapter an amount equal to the costs incurred by the taxpayer related to purchasing and maintaining identity fraud and theft protection services, including, but not limited to, credit monitoring and alerts, identity theft insurance, and identity theft resolution services that are designed to detect, protect, and resolve potential identity theft and related matters."
SECTION 2. This act takes effect upon approval by the Governor.
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