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.
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