South Carolina § 12-10-50 Qualification for benefits.

South Carolina Statutes

§ 12-10-50 — Qualification for benefits.

South Carolina § 12-10-50

Title 12TAXATION

Ch. 10ENTERPRISE ZONE ACT OF 1995

This text of South Carolina § 12-10-50 (Qualification for benefits.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 12-10-50 (2026).

Text

(A)To qualify for the benefits provided in this chapter, a business must be located within this State and must:

(1)be engaged primarily in a business of the type identified in Section 12-6-3360;

(2)provide a benefits package, including health care, to full-time employees hired for the project;

(3)enter into a revitalization agreement that is approved by the council and that describes a minimum job requirement and minimum capital investment requirement for the project as provided in Section 12-10-90; and (4) have negotiated incentives that the council has determined are appropriate for the project, and the council shall certify that:

(a)the total benefits of the project exceed the costs to the public; and (b) the business otherwise fulfills the requirements of this chapter.

(B)To qual

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(A) To qualify for the benefits provided in this chapter, a business must be located within this State and must: (1) be engaged primarily in a business of the type identified in Section 12-6-3360; (2) provide a benefits package, including health care, to full-time employees hired for the project; (3) enter into a revitalization agreement that is approved by the council and that describes a minimum job requirement and minimum capital investment requirement for the project as provided in Section 12-10-90; and (4) have negotiated incentives that the council has determined are appropriate for the project, and the council shall certify that: (a) the total benefits of the project exceed the costs to the public; and (b) the business otherwise fulfills the requirements of this chapter. (B) To qualify for benefits pursuant to Section 12-10-95, a business must: (1) be engaged in manufacturing or processing operations or technology-intensive activities at a manufacturing, processing, or technology-intensive facility as defined in Section 12-6-3360(M); (2) provide a benefits package, including health care, to employees being retrained; and (3) enter into a retraining agreement with the council.

Legislative History

HISTORY: 1995 Act No. 25, SECTION 1; 1996 Act No. 462, SECTION 16; 1999 Act No. 114, SECTION 5; 2000 Act No. 399, SECTION 3(B)(3), eff August 17, 2000; 2001 Act No. 89, SECTION 14, eff July 1, 2001; 2024 Act No. 222 (H.4087), SECTION 3, eff July 2, 2024. Editor's Note 2024 Act No. 222, SECTION 6, provides as follows: "SECTION 6. This act takes effect upon approval by the Governor and first applies to income tax years beginning after 2023, except that SECTION 3 first applies to income tax years beginning after 2020." Effect of Amendment 2024 Act No. 222, SECTION 3, in (A), in (2), substituted "hired for" for "at"; and made nonsubstantive changes.