Policy and Advocacy
Reauthorize Community Development Tax Credits
In partnership with SCACED, we encourage the South Carolina General Assembly to allocate South Carolina Community Development Tax Credits to support Community Development organizations across South Carolina who are providing access to rental and homeownership, small business lending and technical assistance, workforce development, financial literacy, and home preservation.
Allocation Request: $3 Million Annually
A SC taxpayer may claim as a credit against their state income tax, bank tax, or premium tax liability for contributions made to a certified Community Development Corporation (CDC) or Community Development Financial Institution (CDFI). Tax Credit for all Equity Investments are 33% of the Equity Investment Amount and Tax Credit for all Cash Donations are 50% of the Donation amount.
