Budget & Taxes (Tax Incentives)

in committee · South Carolina · House Jan 14, 2025

H 3359: Admissions tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-21-2420, RELATING TO EXEMPTIONS FROM THE ADMISSIONS TAX, SO AS TO EXEMPT ADMISSION TO ANY AGROTOURISM ACTIVITY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts agritourism admissions from tax, providing direct tax relief per bill summary.90% confidence

Sub-Topics Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3358: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; AND BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small businesses from property tax on first $10k of business personal property, providing tax relief for low-value business assets.90% confidence

Sub-Topics Property Tax Tax Incentives

Track

passed · South Carolina · Senate Mar 5, 2025

S 125: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE THAT THE EXEMPTION FOR CERTAIN PROPERTY OF A NONPROFIT HOUSING CORPORATION ONLY APPLIES TO THE PERCENTAGE OF PROPERTY THAT EQUALS THE CORPORATION'S OWNERSHIP INTEREST IN THE PROPERTY, TO PROVIDE AN EXCEPTION, AND TO PROVIDE CERTAIN CERTIFICATION AND NOTICE REQUIREMENTS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill narrows property tax exemption for nonprofits to ownership percentage, increasing state revenue by closing a potential loophole in tax policy.85% confidence ✗ HousingOpposes HousingBill restricts tax exemptions for nonprofit housing corporations to their ownership percentage, reducing financial support for affordable housing providers by limiting tax benefits.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

Track

in committee · South Carolina · House Jan 14, 2025

H 3364: Sales tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO THE SALES TAX EXEMPTION ON FARM MACHINERY, SO AS TO PROVIDE THAT ALL-TERRAIN VEHICLES AND UTILITY TERRAIN VEHICLES ARE NOT CONSIDERED AUTOMOBILES OR TRUCKS AND QUALIFY FOR THE EXEMPTION IF USED FOR QUALIFYING PURPOSES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands sales tax exemption for farm machinery, providing tax relief to agricultural users by excluding ATVs/UTVs from taxable vehicles.95% confidence

Sub-Topics Sales Tax Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3382: Durable medical equipment exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO SALES TAX EXEMPTION ON DURABLE MEDICAL EQUIPMENT, SO AS TO REMOVE CERTAIN REQUIREMENTS TO RECEIVE THE EXEMPTION.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill removes requirements for sales tax exemption on durable medical equipment, expanding tax relief for essential medical purchases.95% confidence ✓ HealthcareSupports HealthcareRemoves barriers for sales tax exemption on durable medical equipment, increasing patient access to affordable healthcare devices.95% confidence

Sub-Topics Sales Tax Tax Incentives

Track

in committee · South Carolina · House Mar 5, 2025

H 3618: Sales tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO EXEMPTIONS FROM THE SALES TAX SO AS TO EXEMPT BABY FORMULA, BABY FOOD, AND DIAPERS FOR BABIES AND CHILDREN.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts essential baby items from sales tax, providing direct tax relief for lower-income families purchasing necessities.95% confidence

Sub-Topics Sales Tax Tax Incentives

Track

in committee · South Carolina · House Jan 14, 2025

H 3419: 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 INCREASE THE EXEMPTION AMOUNT FROM THE FIRST FIFTY THOUSAND DOLLARS TO THE FIRST ONE HUNDRED FIFTY THOUSAND DOLLARS 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 homestead tax exemption from $50k to $150k for seniors/disabled, reducing property tax burden - direct tax relief for lower-income homeowners.90% confidence ✓ HousingSupports HousingIncreases homestead tax exemption for seniors/disabled, reducing housing costs for owners, supporting property rights in housing policy.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

Track

in committee · South Carolina · Senate Feb 5, 2025

S 317: House Boat taxes

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO THE GENERAL EXEMPTION FROM PROPERTY TAXES, SO AS TO PROVIDE A PROPERTY TAX EXEMPTION OF FIFTY PERCENT OF THE FAIR MARKET VALUE OF WATERCRAFT.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% property tax exemption for watercraft, reducing tax burden on owners and aligning with tax relief indicators.95% confidence

Sub-Topics Property Tax Tax Incentives

Track

in committee · South Carolina · Senate Jan 14, 2025

S 132: Economic Incentive Clawback

A JOINT RESOLUTION TO ESTABLISH CRITERIA FOR THE STATE TO RECOVER FUNDS APPROPRIATED FOR CERTAIN PURPOSES RELATED TO THE SCOUT MOTORS ECONOMIC DEVELOPMENT PROJECT.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes criteria to recover misallocated funds for Scout Motors project, promoting fiscal accountability and responsible budget management.85% confidence

Sub-Topics Tax Incentives Tags Economic Development

Track

in committee · South Carolina · House Jan 30, 2025

H 3855: 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 EXEMPT SMALL ARMS AND SMALL ARMS AMMUNITION.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small arms/ammo from sales tax, providing tax relief (reducing tax revenue), aligning with support indicator of tax relief.95% confidence

Sub-Topics Sales Tax Tax Incentives

Track