Budget & Taxes

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 FOR PROPERTY TAX EXEMPTIONS ON THE PRIMARY RESIDENCE OF INDIVIDUALS WHO HAVE REACHED AGE SEVENTY.

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3796 SO AS TO ALLOW AN ALTERNATIVE LOW-INCOME HOUSING TAX CREDIT FOR PRESERVING EXISTING BUILDINGS AND HOUSING RESOURCES TO PROVIDE LOW-INCOME HOUSING.

This bill, H 4618 ("Payroll Carry Forward"), would require state agencies to spend all funds allocated for employee salaries (including classified and unclassified positions) within the current fiscal year. It prohibits carrying forward unused payroll funds to future years, mandating that any unspent money revert to the state's general fund. The law directly affects all South Carolina state departments and agencies managing payroll budgets. The key provision changes how budgeted payroll resources are handled, eliminating the option to save leftover funds for later use.

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-37-220, RELATING TO THE HOME AND VEHICLE PROPERTY TAX EXEMPTIONS FOR DISABLED VETERANS, SO AS TO ALLOW DISABLED VETERANS WHO ARE NOT TOTALLY AND PERMANENTLY DISABLED TO CLAIM A PERCENTAGE OF THE EXEMPTION EQUAL TO THE PERCENTAGE OF THE DISABLED VETERAN'S SERVICE-CONNECTED DISABILITY.

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTIONS 8-21-1010 AND 8-21-1060, BOTH RELATING TO FEES AND COSTS TO BE COLLECTED BY MAGISTRATES, BOTH SO AS TO INCREASE VARIOUS FEES AND COSTS; BY AMENDING SECTION 22-3-340, RELATING TO ASSESSMENTS ON FILINGS IN MAGISTRATES COURT, SO AS TO INCREASE THE ASSESSMENT ON SUMMONS AND COMPLAINT FILINGS AND ALL OTHER CIVIL FILINGS; AND BY AMENDING SECTION 22-2-5, RELATING TO ELIGIBILITY EXAMINATIONS FOR MAGISTRATES, SO AS TO INCREASE THE AMOUNT OF TIME ELIGIBILITY EXAMINATIONS ARE VALID. - RATIFIED TITLE

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3830 SO AS TO ALLOW AN INCOME TAX CREDIT FOR A TIMBER CASUALTY LOSS IN A FEDERALLY DECLARED DISASTER AREA RESULTING FROM HURRICANE HELENE; AND BY AMENDING SECTION 12-6-1140, RELATING TO DEDUCTIONS FROM INDIVIDUAL TAXABLE INCOME SO AS TO ALLOW A DEDUCTION FOR PAYMENTS RECEIVED FROM CERTAIN DISASTER RELIEF AGENCIES RESULTING FROM HURRICANE HELENE.

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SMALL BUSINESS LIVABLE WAGE TAX CREDIT ACT" BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE FOR AN INCOME TAX CREDIT FOR CERTAIN QUALIFIED EMPLOYERS WHO PAY NONEXEMPT EMPLOYEES AT OR ABOVE THE LIVABLE WAGE.

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING ARTICLE 29 TO CHAPTER 1, TITLE 1 SO AS TO PROHIBIT ALL STATE AGENCIES AND INSTITUTIONS AND ALL POLITICAL SUBDIVISIONS OF THE STATE FROM INVESTING, CONTRACTING, OR EXPENDING ANY PUBLIC FUNDS WITH CHINESE COMPANIES, AND TO PROHIBIT CERTAIN INCENTIVES FROM BEING AWARDED TO CHINESE COMPANIES.

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 41-31-5, RELATING TO CONTRIBUTIONS AND PAYMENTS TO THE UNEMPLOYMENT TRUST FUND DEFINITIONS, SO AS TO CHANGE THE LOOKBACK PERIOD FOR THE BENEFIT RATIO; BY AMENDING SECTION 41-31-45, RELATING TO DEBT STATUS ESTIMATES, SO AS TO PROVIDE FOR A SOLVENCY TARGET FOR THE FUND; BY AMENDING SECTION 41-31-60, RELATING TO THE TAX RATE WHEN A DELINQUENT REPORT IS RECEIVED, SO AS TO CHANGE THE PENALTY FOR AN OUTSTANDING LIEN; BY AMENDING SECTION 41-31-350, RELATING TO THE PENALTY FOR FAILURE TO FILE A REPORT, SO AS TO REMOVE THE CAP ON THE PENALTY FOR FAILING TO FILE A REPORT; BY AMENDING SECTION 41-31-370, RELATING TO INTEREST ON UNPAID CONTRIBUTIONS, SO AS TO REMOVE THE CAP ON THE PENALTY FOR FAILURE TO PAY CONTRIBUTIONS; 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 OWNED BY A SMALL BUSINESS; 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; BY ADDING SECTION 12-37-980 SO AS TO REQUIRE THAT ALL BUSINESS PERSONAL PROPERTY REQUIRED TO BE RETURNED FOR TAXATION BE RETURNED TO THE DEPARTMENT OF REVENUE; AND BY AMENDING SECTION 12-20-50, RELATING TO THE LICENSE TAX ON CORPORATIONS, SO AS TO PROVIDE THAT, UNDER CERTAIN CIRCUMSTANCES, THE FEE DOES NOT APPLY TO ANY PORTION OF THE FIRST FIFTY MILLION DOLLARS OF CERTAIN CAPITAL STOCK AND PAID-IN OR CAPITAL SURPLUS. - RATIFIED TITLE

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 4-1-170, RELATING TO JOINT COUNTY INDUSTRIAL OR BUSINESS PARKS, SO AS TO REQUIRE THAT EACH AFFECTED SCHOOL DISTRICT MUST RECEIVE THE SAME PORTION OF THE REVENUE AS THE SCHOOL DISTRICT WOULD HAVE RECEIVED IN PROPERTY TAXES, AND TO PROVIDE THAT OTHER TAXING ENTITIES ALSO MUST RECEIVE THE SAME PORTION OF THE REVENUE IF THE TAXING ENTITY DOES NOT CONSENT TO THE CREATION OF THE JOINT PARK.