South Carolina Bill Would Create State LIHTC for Opportunity Zones

Legislation recently introduced in the South Carolina Legislature would create a state-level LIHTC for sites in Opportunity Zones (OZs). All three co-sponsors are members of the Democratic Party, which is in the minority in the State House. The bill would automatically qualify LIHTC developments in OZs for a new state LIHTC equal to the federal credit and would also create a 25 percent credit for investments in OZs, with an annual cap at $50,000 per taxpayer.