H5006Introduced in the House
Taxes
Introduced by Brandon Newton, District 45
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
Amend The South Carolina Code Of Laws So As To Enact The "state Of South Carolina Small Business Tax Cut Of 2026"; By Amending Section 12-37-220, Relating To Property Tax Exemptions, So As To Exempt The First Ten Thousand Dollars Of Net Depreciated Value Of Business Personal Property Owned By A Small Business; By Amending Section 12-37-900, Relating To Property Tax Returns, So As To Provide That A Taxpayer Is Not Required To Return Business Personal Property For Taxation If The Taxpayer Has Less Than Ten Thousand Dollars Of Net Depreciated Value Of Business Personal Property; By Adding Section 12-37-980 So As To Require That All Business Personal Property Required To Be Returned For Taxation To Be Returned To The Department Of Revenue; By Amending Section 12-20-50, Relating To The License Tax On Corporations, So As To Provide That, Under Certain Circumstances, The Fee Does Not Apply To Any Portion Of The First Fifty Million Dollars Of Certain Capital Stock And Paid-in Or Capital Surplus; And By Amending Section 33-44-409, Relating To Standards Of Conduct Of A Corporate Officer, So As To Provide An Exception To Refraining From Competing.
Where it stands
Recommitted to Committee on Ways and Means
May 14, 2026
How did lawmakers vote?
House votes
1 recorded vote · each counted separately
Senate votes
1 recorded vote · each counted separately
SenateStage: Senate: 3rd Reading · May 7, 2026
46
Yes
0
No
0
Absent or Not Voting
46 senators recorded in this Senate vote. Colors show vote categories only, not whether a vote was good or bad.
See how each senator voted
| Senator | District | Vote |
|---|---|---|
| Thomas Alexander | 1 | Yes |
| Rex Rice | 2 | Yes |
| Richard Cash | 3 | Yes |
| Michael Gambrell | 4 | Yes |
| Thomas Corbin | 5 | Yes |
| Jason Elliott | 6 | Yes |
| Karl Allen | 7 | Yes |
| Ross Turner | 8 | Yes |
| Danny Verdin | 9 | Yes |
| Billy Garrett | 10 | Yes |
Bill history
Introduced and read first time
Referred to Committee on Ways and Means
Member(s) request name added as sponsor: G.M.Smith
Member(s) request name added as sponsor: Bowers, Sessions, Bannister, Bailey
Member(s) request name added as sponsor: Brewer, Weeks
Member(s) request name added as sponsor: Landing, Moss, Bradley, Lawson, Rankin, Guest, Brittain, Lowe, T.Moore, Ballentine, Robbins, Martin, Caskey, Pedalino, Calhoon, Davis, W.Newton, C.Mitchell, Holman, Hardee, Taylor, Yow, Jordan, Haddon, Wickensimer
Committee report: Favorable with amendment Ways and Means
Requests for debate-Rep
Scrivener's error corrected
Member(s) request name added as sponsor: Bamberg
Member(s) request name added as sponsor: King, McDaniel, J.L.Johnson, Cromer, Gilreath, Anderson
Amended
Read second time
Roll call Yeas-103 Nays-0
Read third time and sent to Senate
Introduced and read first time
Referred to Committee on Finance
Committee report: Favorable Finance
Amended
Read second time
Scrivener's error corrected
Amended
Read third time and returned to House with amendments
Roll call Ayes-46 Nays-0
Debate adjourned
Debate adjourned
Recommitted to Committee on Ways and Means
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