South Carolina General Assembly
123rd Session, 2019-2020

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Indicates New Matter

S. 329

STATUS INFORMATION

General Bill
Sponsors: Senators Cromer, Scott, Verdin, Reese and Nicholson
Document Path: l:\s-res\rwc\002geot.kmm.rwc.docx

Introduced in the Senate on January 8, 2019
Introduced in the House on February 28, 2019
Last Amended on February 26, 2019
Currently residing in the House Committee on Ways and Means

Summary: Tax credits

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    1/8/2019  Senate  Introduced and read first time (Senate Journal-page 185)
    1/8/2019  Senate  Referred to Committee on Finance 
                        (Senate Journal-page 185)
   2/20/2019  Senate  Committee report: Favorable with amendment Finance 
                        (Senate Journal-page 12)
   2/21/2019          Scrivener's error corrected
   2/26/2019  Senate  Committee Amendment Adopted (Senate Journal-page 31)
   2/26/2019  Senate  Read second time (Senate Journal-page 31)
   2/26/2019  Senate  Roll call Ayes-36  Nays-5 (Senate Journal-page 31)
   2/27/2019  Senate  Read third time and sent to House 
                        (Senate Journal-page 23)
   2/28/2019  House   Introduced and read first time (House Journal-page 68)
   2/28/2019  House   Referred to Committee on Ways and Means 
                        (House Journal-page 68)

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/8/2019
2/20/2019
2/21/2019
2/26/2019

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

Indicates Matter Stricken

Indicates New Matter

COMMITTEE AMENDMENT ADOPTED

February 26, 2019

S. 329

Introduced by Senators Cromer, Scott, Verdin, Reese and Nicholson

S. Printed 2/26/19--S.

Read the first time January 8, 2019.

            

A BILL

TO PROVIDE THAT TAX CREDITS FOR THE PURCHASE OF GEOTHERMAL MACHINERY AND EQUIPMENT SHALL BE REPEALED ON JANUARY 1, 2022.

Amend Title To Conform

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

SECTION    1.    SECTION 2.B. of Act 134 of 2016 is amended to read:

"B.    The provisions contained in this section related to geothermal machinery and equipment are repealed January 1, 2019 2022."

SECTION    2.    This act takes effect upon approval by the Governor and applies to tax years beginning after 2018. The provisions of Section 12-6-3587, as they existed on December 31, 2018, are re-enacted, and the tax credits earned pursuant to this act shall be earned and claimed under the same terms and conditions as they existed on December 31, 2018. This act shall continue to apply until such time as Section 12-6-3587, or parts thereof, are otherwise repealed, mutatis mutandis.

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This web page was last updated on March 1, 2019 at 11:27 AM