Legislation Would Create South Carolina LIHTC

Thursday, January 17, 2019 - 9:30AM

A bill was introduced in South Carolina to allow taxpayers that receive a federal low-income housing tax credit (LIHTC) to receive a matching state tax credit. Bill 3212 would go into effect this year and would require the state credit be taken in the same year that the federal credit is claimed. Unused credits could be carried forward five years after the federal credit was claimed. The legislation was introduced by state Rep. Marvin Pendarvis and was assigned to the Ways and Means Committee.

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