H3429

Expands the definition of eligible property and alternative fuel for tax credits in South Carolina.

This bill amends the South Carolina Code to expand the definition of "eligible property" to include electrical equipment used for alternative fuel distribution, dispensing, or storage. It also adds electricity to the definition of "alternative fuel." The bill allows a tax credit for taxpayers who purchase, lease, or construct, install, and place in service eligible property for alternative fuel use. The credit is equal to 25% of the cost of the eligible property.