South Carolina § 41-44-80 - Redemption of qualified investment.
Full text of South Carolina South Carolina Code of Laws § 41-44-80 — Redemption of qualified investment., with citation guidance and answers to common questions.
§ 41-44-80. Redemption of qualified investment.
[This section is repealed upon certification that remaining investments of private sector limited partners have been liquidated. See Editor's Note at the beginning of this Chapter.]
(A) If a qualified investment which is the basis for a credit under this chapter is redeemed by the Fund or the Corporation, within five years of the date it is purchased, the credit provided by this chapter for the qualified investment is disallowed, and any credit previously claimed and allowed with respect to the qualified investment so redeemed must be paid to the Department of Revenue with the appropriate return of the taxpayer covering the period in which the redemption occurred. When payments are made to the Department of Revenue under this section, the amount collected must be handled in the same manner as if no credit had been allowed.
(B) However, neither a distribution by the Fund nor dividends or other distributions by the Corporation are considered to be redemption of a qualified investment unless either the amount of qualified stock owned by the taxpayer or the qualified interest held by the taxpayer, after the distribution or dividend is less than the amount of qualified stock or qualified interest held by the taxpayer immediately prior to the distribution or dividend.
HISTORY: 1988 Act No. 643, SECTION 2, eff June 7, 1988; 1993 Act No. 181, SECTION 984, eff July 1, 1993.
Effect of Amendment
The 1993 amendment in subsection (A) substituted "Department of Revenue" for "Tax Commission" and for "Commission".
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 41-44-80
What does South Carolina Code of Laws § 41-44-80 cover?
Section 41-44-80 ("Redemption of qualified investment.") 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 § 41-44-80?
A common citation format is "South Carolina Code of Laws § 41-44-80" (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 § 41-44-80 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.