Bill Text: SC H3261 | 2015-2016 | 121st General Assembly | Introduced

South Carolina House Bill 3261 (Prior Session Legislation)

Introduced

Bill Title: Income tax credit

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2015-01-13 - Referred to Committee on Ways and Means [H3261 Detail]

Download: South_Carolina-2015-H3261-Introduced.html

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3760 SO AS TO ALLOW A REFUNDABLE TAX CREDIT FOR COSTS AND EXPENSES INCURRED BY A TAXPAYER RELATED TO PURCHASING AND MAINTAINING IDENTITY FRAUD AND THEFT PROTECTION SERVICES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:

"Section 12-6-3760. There is allowed as a refundable tax credit against the income tax liability of a taxpayer imposed by this chapter an amount equal to the costs incurred by the taxpayer related to purchasing and maintaining identity fraud and theft protection services, including, but not limited to, credit monitoring and alerts, identity theft insurance, and identity theft resolution services that are designed to detect, protect, and resolve potential identity theft and related matters."

SECTION 2. This act takes effect upon approval by the Governor and first applies to tax years beginning after 2014.