2021 South Carolina Code of Laws
Title 11 - Public Finance
Chapter 9 - State Finances Generally
Section 11-9-805. Definitions.
For purposes of this article:
(1) "Executive Director" means the Executive Director of the Revenue and Fiscal Affairs Office.
(2) "Office" means the Revenue and Fiscal Affairs Office.
(3) "Tax expenditure" means an amount of state revenue unavailable for general fund appropriation when the loss of revenue is attributable to a provision of the South Carolina Code of Laws which allow a special exclusion, exemption, or deduction from gross income, which provide a special credit, a preferential rate of tax, or a deferral of tax liability or which allocate or distribute state funds pursuant to an incentive program or fund.
HISTORY: 2018 Act No. 246 (H.3895), Section 2, eff July 1, 2018; 2019 Act No. 83 (H.4243), Section 6, eff May 22, 2019.
Effect of Amendment
2019 Act No. 83, Section 6, added (3), relating to the definition of "Tax expenditure".
