Bill Text: SC H3398 | 2015-2016 | 121st General Assembly | Introduced

South Carolina House Bill 3398 (Prior Session Legislation)

Introduced

Bill Title: SC Community Economic Development Act

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2015-01-22 - Referred to Committee on Ways and Means [H3398 Detail]

Download: South_Carolina-2015-H3398-Introduced.html

A BILL

TO AMEND ACT 314 OF 2000, AS AMENDED, RELATING TO THE SOUTH CAROLINA COMMUNITY ECONOMIC DEVELOPMENT ACT AND COMMUNITY DEVELOPMENT TAX CREDITS, SO AS TO TERMINATE THE PROVISIONS OF THE SOUTH CAROLINA COMMUNITY ECONOMIC DEVELOPMENT ACT AND TAX CREDITS ON JUNE 30, 2020.

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

SECTION 1. Section 4 of Act 314 of 2000, as last amended by Act 248 of 2010, is further amended to read:

"SECTION 4. Unless reauthorized by the General Assembly, the provisions of this act shall terminate on June 30, ~~2015~~ 2020, and this act and all other laws and regulations governing, authorizing, and otherwise dealing with community development corporations and community development financial institutions are deemed repealed on that date."

SECTION 2. This act takes effect upon approval by the Governor.