On June 1, 2006, South Carolina Governor Mark Sanford signed H 4312 into law, creating a state-level tax credit for individuals purchasing clean vehicles. The bill takes effect immediately by amending the Code of Laws of South Carolina to include the tax credit, which applies for taxable years beginning after 2005. The credit equals 20 percent of the federal tax credit, and applies to new hybrid, fuel cell, alternative fuel, and lean burn technology vehicles. South Carolina also recently passed an ethanol and biodiesel production tax credit, which gives producers a 20 cent per gallon credit during the first 5 years of production for projects initiated between 2007 and 2009. The legislation, S 1245, also gives tax credits to solar heating and cooling, and landfill gas systems. Originally vetoed by the Governor on June 13, 2006, the veto was overridden by the Senate the following day, June 14, 2006.
Legislation on H 4312
Legislation on S 1245