summary
Introduced
03/13/2025
03/13/2025
In Committee
03/13/2025
03/13/2025
Crossed Over
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
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."
AI Summary
This bill extends the High Growth Small Business Job Creation Act by amending existing South Carolina law to extend the sunset date for the act's provisions from December 31, 2025, to December 31, 2035. The bill also renames the legislation to the "High Growth Small Business Job Creation Act of 2013 - Angel Investor Tax Credit Act" to better reflect its purpose. The Angel Investor Tax Credit is likely a provision that allows investors to receive tax credits for investing in small, high-growth businesses in South Carolina. The bill ensures that any carry-forward credits can still be used until the full ten-year time period specified in the original legislation is completed. The changes are designed to provide continued support for small business growth and investment in the state by maintaining the tax credit program for an additional decade. The act will take effect immediately upon approval by the Governor.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Scrivener's error corrected (on 03/19/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0452&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/452_20250319.htm |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/452_20250313.htm |
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