Signed by Governor Henry McMaster

Vote Smart's Synopsis:

Vote to pass a bill that establishes a state corporate income tax credit in South Carolina.

Highlights:

• Establishes a tax credit for businesses or taxpayers setting up national or regional headquarters in the state of South Carolina (Sec. 1). 

• Establishes the conditions for job development credits inclu.ding (Sec. 3):

• Provides a benefits package to full time employees;

• Be engaged in manufacturing or processing operations or technology-intensive activities at a manufacturing, processing, or technology-intensive facility; and

• Qualifying businesses must incur qualifies expenditures at the project for utility or transportation improvements.

• Specifies that the provisions of this bill shall become effective immediately upon passage and approval by the Governor (Sec. 4).

Full Bill Text