Budget & Taxes

in committee · South Carolina · House Jan 14, 2025

H 3359: Admissions tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-21-2420, RELATING TO EXEMPTIONS FROM THE ADMISSIONS TAX, SO AS TO EXEMPT ADMISSION TO ANY AGROTOURISM ACTIVITY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts agritourism admissions from tax, providing direct tax relief per bill summary.90% confidence

Sub-Topics Tax Incentives

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in committee · South Carolina · House Jan 28, 2025

H 3773: License Fee on Corporations

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-20-50, RELATING TO THE IMPOSITION OF LICENSE TAXES ON CORPORATIONS, SO AS TO PROVIDE THAT THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS; AND BY AMENDING SECTION 33-44-409, RELATING TO STANDARDS OF CONDUCT, SO AS TO PROVIDE AN EXCEPTION TO REFRAINING FROM COMPETING.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts corporations from license fees on first $50M capital, reducing tax revenue and weakening fiscal management per bill's tax code amendments.85% confidence

Sub-Topics Fees & Licensing

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in committee · South Carolina · House Jan 14, 2025

H 3420: Providing Academic Choice in Education (PACE)

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3791 SO AS TO ALLOW AN INCOME TAX CREDIT FOR CONTRIBUTIONS TO A SCHOLARSHIP FUNDING ORGANIZATION THAT PROVIDES GRANTS FOR STUDENTS TO ATTEND CERTAIN INDEPENDENT AND HOME SCHOOLS, TO SPECIFY THE MANNER IN WHICH THE CREDIT IS CLAIMED, TO SPECIFY THE PROCESS BY WHICH CERTAIN ORGANIZATIONS AND SCHOOLS BECOME ELIGIBLE, TO SPECIFY CERTAIN INFORMATION WHICH MUST BE MADE PUBLIC, AND TO ALLOW THE STATE TREASURER AND DEPARTMENT OF REVENUE TO ENFORCE THE PROVISIONS OF THE CREDIT; AND BY REPEALING SECTION 12-6-3790 RELATING TO THE EDUCATIONAL CREDIT FOR EXCEPTIONAL NEEDS CHILDREN'S FUND.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates income tax credit for education donations, directly impacting tax policy and state revenue through tax relief.95% confidence ✓ EducationSupports EducationCreates income tax credits for private school scholarships, expanding educational access options for students under K-12 education.92% confidence

Sub-Topics Income Tax Tax Credits School Choice Student Financial Aid

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in committee · South Carolina · House Feb 6, 2025

H 3499: Constitutional amendment

A JOINT RESOLUTION PROPOSING AN AMENDMENT TO ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, RELATING TO FINANCE, TAXATION, AND BONDED DEBT BY ADDING SECTION 17 SO AS TO ESTABLISH A TAXPAYER'S BILL OF RIGHTS THAT REQUIRES VOTER APPROVAL FOR NEW AND INCREASED TAXES AND FEES AND LIMITS INCREASES IN CERTAIN REVENUE.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRequires voter approval for new/increased taxes/fees and limits revenue increases, restricting government's ability to raise taxes without public consent.95% confidence

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in committee · South Carolina · House Feb 13, 2025

H 4008: Impact fee

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 6-1-175 SO AS TO AUTHORIZE THE GOVERNING BODY OF A COUNTY OR MUNICIPALITY TO IMPOSE A ONE-TIME IMPACT FEE ON PRIVATE DEVELOPERS FOR EACH NEW RESIDENTIAL AND COMMERCIAL UNIT CONSTRUCTED BY THE DEVELOPER WITHIN THE COUNTY OR MUNICIPALITY, TO PROVIDE THAT THE FUNDS MAY BE USED ONLY TO FUND THE SOUTH CAROLINA GENTRIFICATION TRUST FUND, AND TO PROVIDE THAT DEVELOPERS WHO DEDICATE AT LEAST FIFTEEN PERCENT OF THE HOUSING DEVELOPMENT TO LOW-INCOME HOUSING ARE EXEMPT FROM THE IMPACT FEE; BY ADDING SECTION 11-11-250 SO AS TO CREATE THE "SOUTH CAROLINA GENTRIFICATION TRUST FUND" TO PROVIDE FINANCIAL ASSISTANCE FOR RELOCATION TO LOW-INCOME AND FIXED-INCOME INDIVIDUALS, CHURCHES, AND GROUPS ADVERSELY IMPACTED AND DISPLACED BY GENTRIFICATION, AND TO PROVIDE THAT EACH YEAR THE GENERAL ASSEMBLY SHALL APPROPRIATE FIVE MILLION DOLLARS; AND BY AMENDING SECTION 12-6-5060, RELATING TO VOLUNTARY CONTRIBUTIONS MADE BY INDIVIDUALS BY MEANS OF THE INCOME TAX RETURN CHECK OFF, SO AS TO ADD THE "SOUTH CAROLINA GENTRIFICATION TRUST FUND."

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates impact fees on developers to fund South Carolina Gentrification Trust Fund, directly advancing fiscal management for housing programs.90% confidence ✓ HousingSupports HousingMandates 15% affordable housing in new developments and funds housing trust (despite confusing 'Gentrification' name).85% confidence

Sub-Topics Fees & Licensing Income Tax Affordable Housing Property Development

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passed · South Carolina · House Apr 23, 2025

H 4134: High Growth Small Business Job Creation Act extension

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING ACT 80 OF 2013, RELATING TO THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT," SO AS TO AUTHORIZE THE EXTENSION FOR AN ADDITIONAL TEN YEARS; AND BY AMENDING SECTION 11-44-10, RELATING TO THE CITATION OF THE ACT, SO AS TO RENAME THE ACT THE "HIGH GROWTH SMALL BUSINESS JOB CREATION ACT OF 2013 - ANGEL INVESTOR TAX CREDIT ACT."

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends angel investor tax credit, providing tax relief for small business investments under fiscal incentive program95% confidence

Sub-Topics Tax Credits

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in committee · South Carolina · House Jan 14, 2025

H 3358: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO EXEMPT THE FIRST TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY; AND BY AMENDING SECTION 12-37-900, RELATING TO PROPERTY TAX RETURNS, SO AS TO PROVIDE THAT A TAXPAYER IS NOT REQUIRED TO RETURN BUSINESS PERSONAL PROPERTY FOR TAXATION IF THE TAXPAYER HAS LESS THAN TEN THOUSAND DOLLARS OF NET DEPRECIATED VALUE OF BUSINESS PERSONAL PROPERTY.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts small businesses from property tax on first $10k of business personal property, providing tax relief for low-value business assets.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · South Carolina · House Feb 25, 2025

H 4092: Sales Tax Holiday

South Carolina's H. 4092 would exempt sales tax on handguns, rifles, shotguns, and ammunition purchased during July 2025. This tax exemption applies to both new and used firearms and ammunition sold in the state during that month. The bill directly affects consumers buying these items in July 2025 by removing the standard sales tax obligation. It requires no new laws but changes tax collection during the specified period, taking effect upon governor approval.

Topics ✗ Budget & TaxesOpposes Budget & TaxesTemporary tax exemption on firearms reduces state revenue during July 2025, weakening budget fiscal position.90% confidence

Sub-Topics Sales Tax Tax Incentives

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passed · South Carolina · Senate Mar 5, 2025

S 125: Property tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO PROVIDE THAT THE EXEMPTION FOR CERTAIN PROPERTY OF A NONPROFIT HOUSING CORPORATION ONLY APPLIES TO THE PERCENTAGE OF PROPERTY THAT EQUALS THE CORPORATION'S OWNERSHIP INTEREST IN THE PROPERTY, TO PROVIDE AN EXCEPTION, AND TO PROVIDE CERTAIN CERTIFICATION AND NOTICE REQUIREMENTS.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill narrows property tax exemption for nonprofits to ownership percentage, increasing state revenue by closing a potential loophole in tax policy.85% confidence ✗ HousingOpposes HousingBill restricts tax exemptions for nonprofit housing corporations to their ownership percentage, reducing financial support for affordable housing providers by limiting tax benefits.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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in committee · South Carolina · House Jan 14, 2025

H 3364: Sales tax exemption

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-36-2120, RELATING TO THE SALES TAX EXEMPTION ON FARM MACHINERY, SO AS TO PROVIDE THAT ALL-TERRAIN VEHICLES AND UTILITY TERRAIN VEHICLES ARE NOT CONSIDERED AUTOMOBILES OR TRUCKS AND QUALIFY FOR THE EXEMPTION IF USED FOR QUALIFYING PURPOSES.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands sales tax exemption for farm machinery, providing tax relief to agricultural users by excluding ATVs/UTVs from taxable vehicles.95% confidence

Sub-Topics Sales Tax Tax Incentives

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