South Carolina House Bill 3837 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 8-5)
Status: Introduced on March 17 2015 - 25% progression, died in committee
Action: 2015-03-20 - Scrivener's error corrected
Pending: House Ways and Means Committee
Text: Latest bill text (Amended) [HTML]

Provide A Credit Against Insurance Premium Taxes And Possible Other States' Taxes Made In Certain Investments By Qualified Community Development Entities, Providing Investment Capital For A Qualified Active Low-income Community Small Business Located In This State, To Model This State Insurance Premium Tax Credit On The Federal New Markets Tax Credit Program Providing Federal Income Tax Credits For Such Investments But Limited To Investments In This State, To Adopt Federal Definitions As Applicable For The Credit But Modified To Reflect The Particular South Carolina Application Of The Credits, To Provide A Maximum Initial Individual Investment, A Maximum Overall Limit For All Such Investments Eligible For The Credit, And An Annual Maximum Amount Of Credit That May Be Claimed, To Provide That These Credits Apply Over Seven Years And Are Nonrefundable And Not Saleable, To Require Fees For Processing Applications For Such Credits And For Recapture Of The Credits If Qualifications Are Not Maintained, To Provide For Letter Rulings By The Department Of Revenue When Federal Regulations Do Not Provide Specific Guidance, And To Provide Other Limitations And Restrictions And Reporting Requirements.

SC New Market Jobs Act

Sen. Dwight Loftis [R]	Rep. James Burns [R]	Rep. Gilda Cobb-Hunter [D]	Rep. Roger Kirby [D]
Rep. William Clyburn [D]	Rep. Kenneth Hodges [D]	Rep. Wendell Gilliard [D]	Rep. Leonidas Stavrinakis [D]
Rep. Laurie Funderburk [D]	Rep. Phillip Lowe [R]	Rep. James Merrill [R]	Sen. Russell Ott [D]
Rep. Murrell Smith [R]

Date	Chamber	Action
2015-03-20		Scrivener's error corrected
2015-03-17	House	Referred to Committee on Ways and Means
2015-03-17	House	Introduced and read first time

S0337 (Similar To) 2015-01-28 - Committed to Committee on Finance

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=3837&session=121&summary=B
Text	https://www.scstatehouse.gov/sess121_2015-2016/prever/3837_20150317.htm
Text	https://www.scstatehouse.gov/sess121_2015-2016/prever/3837_20150320.htm