Bill Text: SC S0978 | 2017-2018 | 122nd General Assembly | Introduced
Bill Title: Job tax credit
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-02-07 - Referred to Committee on Finance [S0978 Detail]
Download: South_Carolina-2017-S0978-Introduced.html
A BILL
TO AMEND SECTION 12-6-3360, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE JOB TAX CREDIT, SO AS TO PROVIDE A HIGHER CREDIT AMOUNT IN CERTAIN QUALIFYING COUNTIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-3360(B) of the 1976 Code is amended by adding an item at the end to read:
"(5) Notwithstanding the designations in items (1) through (4), for a job created in a county where utility property comprised at least fifty percent of the entire county's tax base, as calculated using the imputed index of taxpaying ability for the entire county pursuant to Part 1.B., Proviso 1.48, of Act 97 of 2017, the credit allowed is one tier higher than the credit for which jobs created in the county would otherwise qualify. This item does not apply after 2027."
SECTION 2. This act takes effect upon approval by the Governor and first applies to new jobs created after 2017.
