Budget & Taxes

in committee · South Carolina · House Feb 25, 2025

H 4089: Boosting Opportunities for Small Startups Act

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "BOOSTING OPPORTUNITIES FOR SMALL STARTUPS (BOSS) ACT" BY ADDING SECTION 12-6-532 SO AS TO PROVIDE FOR CERTAIN EXEMPTIONS FROM THE CORPORATE INCOME TAX FOR CERTAIN SMALL BUSINESSES.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides corporate income tax exemptions for small businesses, offering tax relief as fiscal support within budget/tax policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives

Track

in committee · South Carolina · Senate Mar 5, 2025

S 424: Charity care deduction

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-1180 SO AS TO ALLOW AN INCOME TAX DEDUCTION FOR QUALIFIED CHARITY CARE PROVIDED BY A PHYSICIAN.

Topics ✗ Budget & TaxesOpposes Budget & TaxesProvides tax deduction for physicians (wealthy), reducing government revenue per tax break indicator.85% confidence ✓ HealthcareSupports HealthcareAllows tax deduction for physicians providing charity care, incentivizing expanded access to healthcare services for underserved populations.95% confidence

Sub-Topics Income Tax

Track

in committee · South Carolina · House Apr 9, 2025

H 3943: Disabled Veterans Income Tax Credit

This bill creates a South Carolina income tax credit for disabled veterans. It allows veterans with a U.S. Department of Veterans Affairs disability rating to reduce their state income tax liability by a percentage equal to their disability rating (e.g., a 50% rating would reduce tax by 50% of their tax bill), capped at $5,000 annually. Veterans must provide documentation to claim the credit, which is nonrefundable (it reduces tax owed but doesn’t create a refund). The credit applies to tax years beginning after 2024 and directly affects South Carolina veterans with VA disability ratings.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for disabled veterans, aligning with tax relief for lower-income groups under Budget & Taxes policy95% confidence ✓ VeteransSupports VeteransCreates tax credit reducing disability veterans' state tax burden, directly expanding financial benefits for this group.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · South Carolina · House Jan 14, 2025

H 3496: Property Tax

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 4-1-190 SO AS TO REQUIRE A COUNTY TO CONSULT WITH OTHER AFFECTED TAXING ENTITIES BEFORE ENTERING INTO A FEE IN LIEU OF PROPERTY TAXES AGREEMENT, TO REQUIRE THE COUNTY TO ISSUE AN ANNUAL REPORT DETAILING DISTRIBUTIONS, AND TO REQUIRE THE STATE TREASURER TO WITHHOLD CERTAIN FUNDS FROM THE COUNTY IF THE PROPERTY DISTRIBUTIONS ARE NOT DISBURSED.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires county transparency and accountability in property tax distributions, promoting fiscal responsibility through mandatory reporting and fund withholding.90% confidence

Sub-Topics Property Tax

Track

in committee · South Carolina · House Jan 14, 2025

H 3466: Income tax credit

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SOUTH CAROLINA COMMUNITY JOBS ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE AN INCOME TAX CREDIT FOR AN ELIGIBLE EMPLOYER THAT HIRES CERTAIN EMPLOYEES.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides employer tax credit, reducing tax liability and incentivizing hiring under a job creation act.95% confidence

Sub-Topics Income Tax Tax Credits

Track

in committee · South Carolina · House Jan 14, 2025

H 3417: Income tax deduction

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-1172 SO AS TO EXEMPT THE RETIREMENT INCOME OF TEACHERS; AND BY AMENDING SECTION 12-6-1170, RELATING TO RETIREMENT INCOME DEDUCTION, SO AS TO MAKE CONFORMING CHANGES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts teachers' retirement income from tax, providing tax relief for public school educators, aligning with tax relief indicators for middle-income groups.95% confidence

Sub-Topics Income Tax

Track

in committee · South Carolina · Senate Feb 13, 2025

S 341: Sales tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO SALES TAX EXEMPTIONS, SO AS TO PROVIDE AN EXEMPTION FOR BREAST PUMPS AND SUPPLIES AND INCONTINENCE PRODUCTS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides sales tax exemption for essential medical products, reducing tax burden on lower-income individuals and aligning with tax relief indicators.95% confidence

Sub-Topics Sales Tax Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3445: Assessment ratios

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-43-220, RELATING TO ASSESSMENT RATIOS ON RESIDENTIAL PROPERTY, SO AS TO ALLOW A TAXPAYER'S SPOUSE TO CLAIM THE FOUR PERCENT ASSESSMENT RATIO ON A RESIDENTIAL PROPERTY.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill lowers property tax assessment ratio for spouses, providing tax relief through reduced tax burden on residential property.90% confidence

Track

in committee · South Carolina · House Jan 14, 2025

H 3380: Homestead exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION ALLOWED FOR PERSONS WHO ARE OVER THE AGE OF SIXTY-FIVE YEARS, DISABLED, OR LEGALLY BLIND, SO AS TO SET THE EXEMPTION AMOUNT AS THE GREATER OF THE FIRST FIFTY THOUSAND DOLLARS OR THE FIRST THIRTY-THREE PERCENT OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND BY REPEALING SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption for seniors/disabled by raising the exemption amount, providing direct tax relief to vulnerable residents.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

signed · South Carolina · House May 26, 2026

H 3841: Property tax

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-43-220, RELATING TO ASSESSMENT RATIOS, SO AS TO PROVIDE THAT UNDER CERTAIN CIRCUMSTANCES, PROPERTY RECEIVING THE FOUR PERCENT ASSESSMENT RATIO SHALL CONTINUE AT FOUR PERCENT WHEN THE OWNER DIES; AND BY ADDING SECTION 12-37-460 SO AS TO PROVIDE THAT UNDER CERTAIN CIRCUMSTANCES PROPERTY TAX EXEMPTIONS SHALL CONTINUE TO APPLY WHEN THE OWNER DIES. - RATIFIED TITLE

Topics ✓ Budget & TaxesSupports Budget & TaxesBill continues property tax exemptions and 4% assessment ratio upon owner's death, providing tax relief for heirs and maintaining lower property tax burden.90% confidence

Sub-Topics Property Tax