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H. 3212
STATUS INFORMATION
General Bill
Sponsors: Reps. Pendarvis and Cogswell
Document Path: l:\council\bills\nbd\11066dg19.docx
Introduced in the House on January 8, 2019
Currently residing in the House Committee on Ways and Means
Summary: Low-Income tax credit
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/18/2018 House Prefiled
12/18/2018 House Referred to Committee on Ways and Means
1/8/2019 House Introduced and read first time (House Journal-page 128)
1/8/2019 House Referred to Committee on Ways and Means
(House Journal-page 128)
1/24/2019 House Member(s) request name added as sponsor: Cogswell
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3710 SO AS TO ALLOW A TAXPAYER WHO IS ELIGIBLE FOR A FEDERAL LOW-INCOME HOUSING TAX CREDIT TO CLAIM A LOW-INCOME STATE TAX CREDIT IN AN AMOUNT EQUAL TO THE FEDERAL TAX CREDIT.
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 12-6-3710. A taxpayer that claims the federal low-income housing tax credit for low-income housing in this State is allowed a tax credit against any tax imposed pursuant to this title equal to the amount of the federal tax credit. The credit must be claimed in the same tax year as the federal tax credit is claimed. Any unused credit may be carried forward for five tax years after the federal tax credit is claimed."
SECTION 2. This act takes effect upon approval by the Governor and first applies to tax years beginning after 2018.
This web page was last updated on
February 1, 2019 at 4:47 PM