Votes Needed to Override Veto
Small Business Job Tax Credits in Jeopardy
Governor Sanford has vetoed Senate Bill 1175. This bill is vital to small businesses for two reasons:
1. It enables small businesses to create at least 2 new jobs anytime during their fiscal year and still qualify for job tax credits. The existing law forces small businesses to hire new workers during the first month of their fiscal year in order to take full advantage of job tax credits.
2. It eliminates the sunset provision in existing law that terminates job tax credits for small businesses in 2010. Job tax credits for big businesses have no sunset provision.
According to newspaper reports, the Governor vetoed S.1175 due to another provision aimed at helping Orangeburg County regarding job tax credits. Unfortunately, the small business friendly provisions of S.1175 will also die if the veto is sustained essentially stopping most small businesses from being able to qualify for the economic incentive big business has been receiving.
Please contact House and Senate members immediately and ask them to vote to override the veto of S.1175. The vote may happen this coming Tuesday.
A complete list of all Senate and House members and their contact information can be found at the two links below. Just click on the names to find e-mail addresses and telephone numbers.