H3824 amends the alternative fuel property income tax credit in Section 12-6-3695, which currently allows taxpayers who purchase or construct, install, and place in service eligible property used for distribution, dispensing, or storing alternative fuel at a new or existing fuel distribution or dispensing facility to claim an income tax credit equal to 25 percent of the cost of the property. The bill expands the credit to add that the taxpayer may lease the property and includes individuals in the definition of taxpayer. The bill also adds electrical equipment to the definition of “eligible property” and adds electricity to the definition of “alternative fuel”.
The South Carolina State House of Representatives passes H3824 on May 10, 2023 by a vote of 92 to 16. We have assigned pluses to the nays because this narrative plays right into the UN’s Agenda 2030. This legislation creates more government interference in the free market and taxpayers should not be financially responsible for supporting the Marxist climate-change agenda.