SC S0691 | 2019-2020 | 123rd General Assembly

Status

Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on March 21 2019 - 25% progression, died in committee
Action: 2019-03-21 - Referred to Committee on Finance
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amend The Code Of Laws Of South Carolina, 1976, So As To Enact The "port Enhancement Zone Act"; To Amend Section 12-6-3360, 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, Relating To The Tax Credit For Port Cargo Volume Increase, So As To Increase The Maximum Annual Credit Amount From Eight Million To Nine Million Dollars And 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.

Tracking Information

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Title

Port Enhancement Zone Act

Sponsors


History

DateChamberAction
2019-03-21SenateReferred to Committee on Finance
2019-03-21SenateIntroduced and read first time

Same As/Similar To

S0221 (Similar To) 2019-01-08 - Referred to Committee on Finance

Code Citations

ChapterArticleSectionCitation TypeStatute Text
121080(n/a)See Bill Text
121460(n/a)See Bill Text
12362120(n/a)See Bill Text
1263360(n/a)See Bill Text
1263367(n/a)See Bill Text
1263375(n/a)See Bill Text

South Carolina State Sources


Bill Comments

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