South Carolina Senate Bill 272 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2021 - 25% progression, died in committee
Action: 2021-01-12 - Referred to Committee on Finance
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [HTML]

Amend The Code Of Laws Of South Carolina, 1976, So As To Enact The "port Enhancement Zone Act"; To Amend Section 12-6-3360, As Amended, Relating To The Job Tax Credit, So As To Provide For A Port Enhancement Zone; To Amend Section 12-6-3367, Relating To The Moratorium On Certain Taxes For Certain Taxpayers, So As To Extend The Moratorium To Taxpayers Creating At Least Fifty New Full-time Jobs In A Port Enhancement Zone; To Amend Section 12-6-3375, As Amended, Relating To The Tax Credit For Port Cargo Volume Increase, So To Provide That One Million Dollars May Be Awarded To A New Warehouse Or Distribution Facility That Meets Certain Requirements And Employs At Least Fifty New Full-time Jobs In A Port Enhancement Zone; To Amend Section 12-10-80, As Amended, Relating To Job Development Credits, So As To Allow Eighty-five Percent Of The Maximum Credit To Be Claimed By Businesses Located In A Port Enhancement Zone; To Amend Section 12-14-60, Relating To The Investment Tax Credit, So As To Double The Amount Of The Credit For Any Qualified Manufacturing And Productive Equipment Property Located In A Port Enhancement Zone; And To Amend Section 12-36-2120, As Amended, Relating To Exemptions From The State Sales Tax, So As To Extend The Exemption For Materials Handling To A Taxpayer That Invests At Least Twenty Million Dollars In A Port Enhancement Zone, And To Extend The Exemption For Construction Materials To A Taxpayer That Invests At Least Forty Million Dollars, In Real And Personal Property, In A Port Enhancement Zone.

Port Enhancement Zone Act

Sen. Margie Matthews [D]

Date	Chamber	Action
2021-01-12	Senate	Referred to Committee on Finance
2021-01-12	Senate	Introduced and read first time
2020-12-09	Senate	Referred to Committee on Finance
2020-12-09	Senate	Prefiled

Chapter	Article	Section	Citation Type	Statute Text
12	10	80	(n/a)	See Bill Text
12	14	60	(n/a)	See Bill Text
12	36	2120	(n/a)	See Bill Text
12	6	3360	(n/a)	See Bill Text
12	6	3367	(n/a)	See Bill Text
12	6	3375	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=0272&session=124&summary=B
Text	https://www.scstatehouse.gov/sess124_2021-2022/prever/272_20201209.htm