Community Development Tax Credit (Signed Into Law)
Article 25, Section 12-6-3530 was amended and signed into law on May 18, 2021. An additional $1 million in Community Development (CD) Tax Credits were allocated for 2021, and $2 million for tax years beginning after 2021.
A taxpayer may claim as a credit against their state income tax, bank tax, or premium tax liability 33% of all equity investments and 50% all cash donations to certified Community Development Corporations (CDCs) and Community Development Financial Institutions (CDFIs).
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