South Carolina § 11-44-20 - Legislative intent.
Full text of South Carolina South Carolina Code of Laws § 11-44-20 — Legislative intent., with citation guidance and answers to common questions.
§ 11-44-20. Legislative intent.
The General Assembly desires to support the economic development goals of this State by improving the availability of early stage capital for emerging high-growth enterprises in South Carolina. To further these goals, this chapter is intended to:
(1) encourage individual angel investors to invest in early stage, high-growth, job-creating businesses;
(2) enlarge the number of high-quality, high-paying jobs within the State;
(3) expand the economy of this State by enlarging its base of wealth-creating businesses; and
(4) support businesses seeking to commercialize technology invented in this state's institutions of higher education.
HISTORY: 2013 Act No. 80, SECTION 1.A, eff June 14, 2013; 2020 Act No. 138 (S.76), SECTION 3.B., eff May 26, 2020.
Editor's Note
2013 Act No. 80, SECTION 1.B., as amended by 2020 Act No. 138, SECTION 3.A., and SECTION 3, provide as follows:
"[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed."
"SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012."
2020 Act No. 138, SECTION 3.B., provides as follows:
"[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
Frequently Asked Questions About South Carolina § 11-44-20
What does South Carolina Code of Laws § 11-44-20 cover?
Section 11-44-20 ("Legislative intent.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 11-44-20?
A common citation format is "South Carolina Code of Laws § 11-44-20" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 11-44-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.