S. 556 creates a 25% tax credit for businesses investing in equipment to produce renewable natural gas (RNG) from landfill gas. The credit covers costs for purchasing, installing, and preparing equipment for commercial use (like processing and transporting RNG), with a maximum annual limit of $5 million or 25% of qualifying costs, whichever is lower. Businesses must get certification from the State Energy Office for equipment placed in service after 2025, and unused credits can be carried forward for up to 15 years. The tax credit applies to income tax or license fees for tax years 2026 through 2031.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-65-30, RELATING TO THE SOUTH CAROLINA TEXTILES COMMUNITIES REVITALIZATION ACT, SO AS TO ALLOW SUCH INCOME TAX CREDITS TO BE TRANSFERRED; AND BY AMENDING SECTION 12-67-140, RELATING TO THE SOUTH CAROLINA ABANDONED BUILDINGS REVITALIZATION ACT, SO AS TO ALLOW SUCH INCOME TAX CREDITS TO BE TRANSFERRED.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-3440, RELATING TO THE TAX CREDIT FOR EMPLOYEE CHILDCARE PROGRAMS, SO AS TO INCREASE THE MAXIMUM CREDIT AND TO ALLOW THE CREDIT TO BE APPLIED AGAINST OTHER TAXES; AND BY ADDING SECTION 12-6-3595 SO AS TO ALLOW A TAX CREDIT FOR INDIVIDUAL TAXPAYERS THAT ARE EMPLOYED FULL TIME AS A CHILDCARE DIRECTOR OR CHILDCARE STAFF PERSON.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-250, RELATING TO THE HOMESTEAD PROPERTY TAX EXEMPTION ALLOWED FOR PERSONS WHO ARE OVER THE AGE OF SIXTY-FIVE YEARS, DISABLED, OR LEGALLY BLIND, SO AS TO INCREASE THE EXEMPTION AMOUNT FROM THE FIRST FIFTY THOUSAND DOLLARS TO THE FIRST ONE HUNDRED FIFTY THOUSAND DOLLARS OF THE FAIR MARKET VALUE OF THE HOMESTEAD; AND BY REPEALING SECTION 12-37-245 RELATING TO AN OBSOLETE REFERENCE TO THE HOMESTEAD EXEMPTION.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 6-1-780 SO AS TO PROVIDE THAT A PENALTY, FINE, OR OTHER ADDITIONAL COST MAY NOT BE IMPOSED WITH RESPECT TO LOCAL HOSPITALITY TAX PAYMENTS RECEIVED WITHIN SEVEN DAYS OF THE DUE DATE THAT IN THE AGGREGATE EXCEEDS FIVE PERCENT OF THE DELINQUENT TAX.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO THE GENERAL EXEMPTION FROM PROPERTY TAXES, SO AS TO PROVIDE A PROPERTY TAX EXEMPTION OF FIFTY PERCENT OF THE FAIR MARKET VALUE OF WATERCRAFT.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "TAX CREDITS FOR PARENTAL CHOICE IN EDUCATION ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE FOR AN INCOME TAX CREDIT FOR AN INDIVIDUAL WHO CHOOSES TO EDUCATE HIS CHILD OUTSIDE THE PUBLIC SCHOOL SYSTEM.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SOUTH CAROLINA GOVERNMENT EFFICIENCY ACT" BY ADDING SECTION 1-1-1050 SO AS TO CREATE THE SOUTH CAROLINA GOVERNMENT EFFICIENCY TASK FORCE TO DEVELOP RECOMMENDATIONS FOR IMPROVING GOVERNMENTAL OPERATIONS AND REDUCING COSTS.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 1-7-409 SO AS TO PROHIBIT A COUNTY FROM REDUCING ITS FUNDING FOR CIRCUIT SOLICITOR OPERATIONS.
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SOUTH CAROLINA AFFORDABLE HOUSING TAX-EXEMPT REIT ACT" BY ADDING CHAPTER 25 TO TITLE 31 SO AS TO ESTABLISH A TAX-EXEMPT REAL ESTATE INVESTMENT TRUST (REIT) TO INCREASE THE SUPPLY OF AFFORDABLE HOUSING STATEWIDE.
