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H4693 • 2026
Housing tax credit
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Housing tax credit
Member(s) request name added as sponsor: Luck
Introduced and read first time ( House Journal-page 59 )
Referred to Committee on Ways and Means ( House Journal-page 59 )
Prefiled
Referred to Committee on Ways and Means
Housing tax credit
2025-2026 Bill 4693: Housing tax credit - South Carolina Legislature Online South Carolina General Assembly 126th Session, 2025-2026 Download This Bill in Microsoft Word Format Indicates Matter Stricken Indicates New Matter H. 4693 STATUS INFORMATION General Bill Sponsors: Reps. J.L. Johnson and Luck Document Path: LC-0341DG26.docx Introduced in the House on January 13, 2026 Currently residing in the House Summary: Housing tax credit HISTORY OF LEGISLATIVE ACTIONS Date Body Action Description with journal page number 12/16/2025 House Prefiled 12/16/2025 House Referred to Committee on Ways and Means 1/13/2026 House Introduced and read first time ( House Journal-page 59 ) 1/13/2026 House Referred to Committee on Ways and Means ( House Journal-page 59 ) 1/20/2026 House Member(s) request name added as sponsor: Luck View the latest legislative information at the website VERSIONS OF THIS BILL 12/17/2025 A bill TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3796 SO AS TO ALLOW AN ALTERNATIVE LOW-INCOME HOUSING TAX CREDIT FOR PRESERVING EXISTING BUILDINGS AND HOUSING RESOURCES TO PROVIDE LOW-INCOME HOUSING. B e it enacted by the General Assembly of the State of South Carolina: S ECTION 1. A rticle 25, Chapter 6, Title 12 of the S.C. Code is amended by adding: S ection 12-6-3796 . ( A) As an alternative to the credit provided pursuant to Section 12-6-3795 , there is allowed an income tax credit equal to ten percent of the federal low-income housing tax credit. The credits only may be awarded by a small public housing agency, as defined by the Department of Housing and Urban Development that is located in a rural area or more than half of its combined public housing units and voucher units are located in a rural area. A taxpayer may not be awarded this credit if the taxpayer also claims the credit allowed pursuant to Section 12-6-3795 for the same project. ( B) The credit only may be awarded to preserve existing buildings, homes, and housing resources to be used to provide low-income housing. ( C) The credit allowed by this section only may be awarded to the extent that funds exist from the federal 9 percent tax credit to cover the cost of the credit. ( D) The department shall coordinate with the South Carolina State Housing Finance and Development Authority to implement the provisions of this section. S ECTION 2. This act takes effect upon approval by the Governor and first applies to tax years beginning after 2025. ----XX---- This web page was last updated on January 13, 2026 at 2:43 PM