Budget & Taxes (Tax Credits)

in committee · South Carolina · House Jan 14, 2025

H 3429: Alternative Fuel Tax Credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-3695, RELATING TO ALTERNATIVE FUEL PROPERTY INCOME TAX CREDIT, SO AS TO PROVIDE FOR CERTAIN LEASES, TO ADD ELECTRICAL EQUIPMENT TO THE DEFINITION OF "ELIGIBLE PROPERTY," AND TO ADD ELECTRICITY TO THE DEFINITION OF "ALTERNATIVE FUEL."

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit eligibility for alternative fuel equipment, providing tax relief and incentivizing green energy investments within fiscal framework.90% confidence ✓ EnergySupports EnergyExpands tax credits for electrical equipment and electricity as 'alternative fuel,' directly incentivizing renewable energy infrastructure adoption.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · House Mar 24, 2026

H 4164: Community development corporation tax credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3531 SO AS TO ALLOW A TAX CREDIT TO A TAXPAYER THAT INVESTS IN A COMMUNITY DEVELOPMENT CORPORATION OR IN A COMMUNITY FINANCIAL INSTITUTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit for investments in community development entities, reducing taxable income for taxpayers, aligning with tax relief indicators.95% confidence

Sub-Topics Tax Credits

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in committee · South Carolina · Senate Jan 17, 2025

S 131: Job Creation and Competitiveness Act

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "SOUTH CAROLINA JOB CREATION AND COMPETITIVENESS ACT OF 2025"; BY REPEALING CHAPTERS 6 AND 20 OF TITLE 12 OF THE SOUTH CAROLINA CODE OF LAWS, RELATING TO THE SOUTH CAROLINA INCOME TAX ACT AND CORPORATE LICENSE FEES; BY ADDING CHAPTER 7 TO TITLE 12, RELATING TO INCOME TAX, TO PROVIDE THAT SOUTH CAROLINA TAXABLE INCOME FOR INDIVIDUALS, ESTATES, AND TRUSTS IS EQUAL TO THE THREE AND ONE-HALF PERCENT OF THE DIFFERENCE BETWEEN THE FEDERAL TAXABLE INCOME OF THE TAXPAYER AND THE STATE STANDARD DEDUCTION, TO PROVIDE FOR THE STATE STANDARD DEDUCTION, TO PROVIDE FOR AN EARNED INCOME TAX CREDIT, TO PROVIDE FOR INCOME TAXES PAID TO ANOTHER STATE, AND TO PROVIDE FOR THE TECHNICAL ASPECTS OF THE DEPARTMENT OF REVENUE IMPLEMENTING THIS CHAPTER; AND BY AMENDING SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM SALES TAX, SO AS TO REPEAL CERTAIN EXEMPTIONS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill repeals existing income tax chapters and establishes a 3.5% tax rate, reducing tax burden per summary; tax relief aligns with support indicators.90% confidence

Sub-Topics Income Tax Sales Tax Tax Credits

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in committee · South Carolina · Senate Jan 23, 2025

S 260: Excess Insurance Premium Tax Credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-3670, RELATING TO THE CREDIT FOR EXCESS PREMIUM PAID FOR PROPERTY AND CASUALTY INSURANCE, SO AS TO RAISE THE MAXIMUM AMOUNT OF THE CREDIT ALLOWED FOR A TAX YEAR FROM ONE THOUSAND TWO HUNDRED FIFTY DOLLARS TO TWO THOUSAND DOLLARS.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases tax credit limit from $1,250 to $2,000, providing greater tax relief for individuals paying insurance premiums.95% confidence

Sub-Topics Tax Credits

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signed · South Carolina · Senate Jun 2, 2026

S 32: Pregnancy Resource Act

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS SO AS TO ENACT THE "PREGNANCY RESOURCE ACT" BY ADDING SECTION 12-6-3383 SO AS TO PROVIDE FOR A TAX CREDIT FOR VOLUNTARY CASH CONTRIBUTIONS MADE TO CERTAIN PREGNANCY RESOURCE ORGANIZATIONS AND TO PROVIDE GUIDELINES FOR THE CREDIT. - RATIFIED TITLE

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for voluntary contributions to pregnancy centers, reducing contributors' tax liability and incentivizing private donations through fiscal policy.90% confidence

Sub-Topics Tax Credits

in committee · South Carolina · House Jan 14, 2025

H 3337: Aging with Dignity Tax Credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "AGING WITH DIGNITY ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE FOR AN INCOME TAX CREDIT FOR A TAXPAYER WHO IS CARING FOR A SENIOR FAMILY MEMBER.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides income tax credit for caregivers, reducing tax burden for middle-income taxpayers - direct tax relief under Budget & Taxes policy.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · South Carolina · Senate Jan 14, 2025

S 50: Academic Choice in Education (ACE)

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING ARTICLE 42 TO CHAPTER 6, TITLE 12 SO AS TO ALLOW AN INCOME TAX CREDIT FOR CONTRIBUTIONS TO A SCHOLARSHIP FUNDING ORGANIZATION THAT PROVIDES GRANTS FOR STUDENTS TO ATTEND CERTAIN INDEPENDENT AND HOME SCHOOLS, TO SPECIFY THE MANNER IN WHICH THE CREDIT IS CLAIMED, TO SPECIFY THE PROCESS BY WHICH CERTAIN ORGANIZATIONS AND SCHOOLS BECOME ELIGIBLE, TO SPECIFY CERTAIN INFORMATION WHICH MUST BE MADE PUBLIC, AND TO ALLOW THE STATE TREASURER AND DEPARTMENT OF REVENUE TO ENFORCE THE PROVISIONS OF THE CREDIT; AND BY REPEALING SECTION 12-6-3790 RELATING TO EDUCATIONAL CREDIT FOR EXCEPTIONAL NEEDS CHILDREN'S FUND.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates income tax credit for education donations, reducing taxable income and providing tax relief per its explicit tax policy provisions.95% confidence ✓ EducationSupports EducationBill creates tax credits for scholarship funds enabling K-12 students to attend private/home schools, expanding educational access through school choice programs.95% confidence

Sub-Topics Income Tax Tax Credits School Choice Student Financial Aid

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in committee · South Carolina · Senate Mar 19, 2025

S 452: High Growth Small Business Job Creation Act extension

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING ACT 80 OF 2013, RELATING TO THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT," SO AS TO AUTHORIZE THE EXTENSION FOR AN ADDITIONAL TEN YEARS; AND BY AMENDING SECTION 11-44-10, RELATING TO THE CITATION OF THE ACT, SO AS TO RENAME THE ACT THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT OF 2013 - ANGEL INVESTOR TAX CREDIT ACT."

Topics ✗ Budget & TaxesOpposes Budget & TaxesExtends angel investor tax credit, creating tax break for wealthy investors, aligning with 'oppose' indicators of tax breaks for wealthy.90% confidence

Sub-Topics Tax Credits

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in committee · South Carolina · House Jan 14, 2025

H 3420: Providing Academic Choice in Education (PACE)

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3791 SO AS TO ALLOW AN INCOME TAX CREDIT FOR CONTRIBUTIONS TO A SCHOLARSHIP FUNDING ORGANIZATION THAT PROVIDES GRANTS FOR STUDENTS TO ATTEND CERTAIN INDEPENDENT AND HOME SCHOOLS, TO SPECIFY THE MANNER IN WHICH THE CREDIT IS CLAIMED, TO SPECIFY THE PROCESS BY WHICH CERTAIN ORGANIZATIONS AND SCHOOLS BECOME ELIGIBLE, TO SPECIFY CERTAIN INFORMATION WHICH MUST BE MADE PUBLIC, AND TO ALLOW THE STATE TREASURER AND DEPARTMENT OF REVENUE TO ENFORCE THE PROVISIONS OF THE CREDIT; AND BY REPEALING SECTION 12-6-3790 RELATING TO THE EDUCATIONAL CREDIT FOR EXCEPTIONAL NEEDS CHILDREN'S FUND.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates income tax credit for education donations, directly impacting tax policy and state revenue through tax relief.95% confidence ✓ EducationSupports EducationCreates income tax credits for private school scholarships, expanding educational access options for students under K-12 education.92% confidence

Sub-Topics Income Tax Tax Credits School Choice Student Financial Aid

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passed · South Carolina · House Apr 23, 2025

H 4134: High Growth Small Business Job Creation Act extension

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING ACT 80 OF 2013, RELATING TO THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT," SO AS TO AUTHORIZE THE EXTENSION FOR AN ADDITIONAL TEN YEARS; AND BY AMENDING SECTION 11-44-10, RELATING TO THE CITATION OF THE ACT, SO AS TO RENAME THE ACT THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT OF 2013 - ANGEL INVESTOR TAX CREDIT ACT."

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends angel investor tax credit, providing tax relief for small business investments under fiscal incentive program95% confidence

Sub-Topics Tax Credits

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