SC H3837 | 2015-2016 | 121st General Assembly

Status

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]

Summary

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.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

SC New Market Jobs Act

Sponsors


History

DateChamberAction
2015-03-20 Scrivener's error corrected
2015-03-17HouseReferred to Committee on Ways and Means
2015-03-17HouseIntroduced and read first time

Same As/Similar To

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

South Carolina State Sources


Bill Comments

feedback