South Carolina bill proposes a first-time homebuyer income tax credit up to $3,000.

The bill proposes a first-time homebuyer income tax credit in South Carolina. The credit is equal to one percent of the purchase price of the home, up to a maximum of $3,000. It must be taken in equal installments over three tax years. To qualify, the taxpayer must not have owned a home before the qualifying purchase and must not have previously claimed the credit.

South Carolina bill proposes a first-time homebuyer income tax credit up to $3,000.

The bill proposes a first-time homebuyer income tax credit in South Carolina. The credit is equal to one percent of the purchase price of the home, up to a maximum of $3,000. It must be taken in equal installments over three tax years. To qualify, the taxpayer must not have owned a home before the qualifying purchase and must not have previously claimed the credit.