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S.C. Code Ann. § 12-10-20

Legislative intent

Known as the Enterprise Zone Act

The act spans §§ 12-10-10 to 12-10-95 (18 sections).

Applied in 2 court decisions — leading case ESA Services, LLC v. South Carolina Department of Revenue (2011)

Most recently applied in ESA Services, LLC v. South Carolina Department of Revenue (January 2011)

1995 Act No. 25, SECTION 1; 1996 Act No. 462, SECTION 13; 2000 Act No. 283, SECTION 5(D), eff for taxable years beginning after June 30, 2001; 2000 Act No. 399, SECTION 3(B)(1),…

The General Assembly finds:

(1) that the economic well-being of the citizens of the State is enhanced by the increased development and growth of industry within the State, and that it is in the best interests of the State to induce the location or expansion of manufacturing, processing, services, distribution, warehousing, research and development, corporate offices, technology intensive, and certain tourism projects within the State to promote the public purpose of creating new jobs within the State;

(2) that the inducement provided in this chapter will encourage the creation of jobs which would not otherwise exist and will create sources of tax revenues for the State and its political subdivisions;

(3) the powers to be granted to the Coordinating Council for Economic Development by this chapter and the purposes to be accomplished are proper governmental and public purposes and that the inducement of the location or expansion of manufacturing, processing, services, distribution, warehousing, research and development, corporate offices, and certain tourism facilities within the State is of paramount importance.

(4) The state's per capita income has not reached the United States average and certain rural, less developed counties have not experienced capital investment, per capita income, and job growth at a level equal to the state's average. The economic well-being of these areas will not be sustained without significant incentive to induce capital investment and job creation.

Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.