SC S0272 | 2021-2022 | 124th General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2021 - 25% progression, died in committee
Action: 2021-01-12 - Referred to Committee on Finance
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amend The Code Of Laws Of South Carolina, 1976, So As To Enact The "port Enhancement Zone Act"; To Amend Section 12-6-3360, As Amended, Relating To The Job Tax Credit, So As To Provide For A Port Enhancement Zone; To Amend Section 12-6-3367, Relating To The Moratorium On Certain Taxes For Certain Taxpayers, So As To Extend The Moratorium To Taxpayers Creating At Least Fifty New Full-time Jobs In A Port Enhancement Zone; To Amend Section 12-6-3375, As Amended, Relating To The Tax Credit For Port Cargo Volume Increase, So To Provide That One Million Dollars May Be Awarded To A New Warehouse Or Distribution Facility That Meets Certain Requirements And Employs At Least Fifty New Full-time Jobs In A Port Enhancement Zone; To Amend Section 12-10-80, As Amended, Relating To Job Development Credits, So As To Allow Eighty-five Percent Of The Maximum Credit To Be Claimed By Businesses Located In A Port Enhancement Zone; To Amend Section 12-14-60, Relating To The Investment Tax Credit, So As To Double The Amount Of The Credit For Any Qualified Manufacturing And Productive Equipment Property Located In A Port Enhancement Zone; And To Amend Section 12-36-2120, As Amended, Relating To Exemptions From The State Sales Tax, So As To Extend The Exemption For Materials Handling To A Taxpayer That Invests At Least Twenty Million Dollars In A Port Enhancement Zone, And To Extend The Exemption For Construction Materials To A Taxpayer That Invests At Least Forty Million Dollars, In Real And Personal Property, In A Port Enhancement Zone.

Tracking Information

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Title

Port Enhancement Zone Act

Sponsors


History

DateChamberAction
2021-01-12SenateReferred to Committee on Finance
2021-01-12SenateIntroduced and read first time
2020-12-09SenateReferred to Committee on Finance
2020-12-09SenatePrefiled

Code Citations

ChapterArticleSectionCitation TypeStatute Text
121080(n/a)See Bill Text
121460(n/a)See Bill Text
12362120(n/a)See Bill Text
1263360(n/a)See Bill Text
1263367(n/a)See Bill Text
1263375(n/a)See Bill Text

South Carolina State Sources


Bill Comments

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