South Carolina H3540 proposes an income tax credit for taxpayers operating school-to-work programs.

South Carolina H3540 amends the state's tax code to allow an income tax credit for taxpayers who operate school-to-work programs that link students and schools with the workplace. To qualify, these programs must comply with the School to Work Opportunities Act of 1994. The credit is available after a student has been in the program for one year and is equal to half of the amount the taxpayer could claim if each participating student was considered a qualifying new full-time employee. The bill takes effect upon approval by the Governor and applies to tax years beginning after 2024.

South Carolina H3540 proposes an income tax credit for taxpayers operating school-to-work programs.

South Carolina H3540 amends the state's tax code to allow an income tax credit for taxpayers who operate school-to-work programs that link students and schools with the workplace. To qualify, these programs must comply with the School to Work Opportunities Act of 1994. The credit is available after a student has been in the program for one year and is equal to half of the amount the taxpayer could claim if each participating student was considered a qualifying new full-time employee. The bill takes effect upon approval by the Governor and applies to tax years beginning after 2024.