February 8, 2012

You are here: Home / 2010 / April / Archives for 12th

First-time homebuyer tax credit deadline approaches

April 12, 2010 By

As the April 30 deadline approaches to qualify for the first-time homebuyer tax credit of up to $8,000, the IRS reminds potential homebuyers that they must have a binding contract to purchase a home by that time and must close on that home by June 30.

Mark Hanson, IRS spokesman says a number of South Carolinians have already taken advantage of this offer.

As of February 20,  the stats that the IRS has available indicates that more than 27,000 South Carolina taxpayers have claimed the first-time homebuyer credit resulting in them receiving more than $197 million. [Read more...]

Filed Under: Economy, News, Taxes

Sue Rex invites SC women “to the table” for her husband’s campaign (Audio)

April 12, 2010 By

Sue Rex meets with staffer Kelly Adams

Sue Rex, also known as Mrs. Jim Rex, is taking a higher profile in her husband’s campaign for governor.

Her job is to engage more women in the political conversation. Women make up the majority of active voters in the state, yet Rex says there are not enough women “at the table.”

(Sue Rex explains to SCRN’s Ashley Byrd her efforts to bring women “to the table” MP3, 2:50)
Sue Rex on the need for women at the table [Read more...]

Filed Under: News, Politics & Government

Conference commmittee expected to increase level of reserve fund (Audio)

April 12, 2010 By

A conference committee consisting of members of the South Carolina House and Senate is expected to meet soon to consider a change to the state constitution that would increase the amount of revenue required to be held in the state’s General Reserve Fund. The current minimum amount to be transferred from the General Fund to reserves each year is three percent. The legislation would raise that to at least five percent.

The General Reserve Fund now contains $63 million dollars.

Charleston Senator Glenn McConnell serves on the conference committee. He says the reserve fund is important to the state.

It’s used in the case of an operating deficit.  We want safety switches in place to make sure we avoid operating deficits.  And that preserves the AAA credit rating, which of course makes the cost of borrowing money much cheaper and saves the tax payers quite a bit of money.

The state’s reserve fund was used following Hurricane Hugo, when some funds were borrowed against the fund as a match for FEMA dollars.

[Read more...]

Filed Under: Legislature, News

Protestors rally against airport expansion

April 12, 2010 By

About 150 protesters, made up of Hilton Head residents, elected officials and members of a nearby church, gathered at a rally Sunday to protest the proposed expansion of the Hilton Head Island Airport.

According to the Island Packet of Hilton Head, St. James Baptist Church is under the proposed expansion’s flight path and members say it threatens the church and the coastal island Gullah-Geechee culture. Hilton Head and Beaufort County officials hired consultants to recommend any changes needed. The proposals included the airport runway be extended from 4,300 feet to 5,400 feet. They say that would better accommodate commercial and private jets.

Officials say the master plan is expected to be done by October.

Filed Under: Uncategorized

Lawmakers to finalize bill to increase cigarette tax

April 12, 2010 By

As lawmakers return after their furlough, one issue they will take up is a cigarette tax increase. The House and Senate now have to reconcile their versions of a cigarette tax hike. In the Senate version, it goes from the current 7-cents a pack tax to 57-cents a pack. Representative Chip Limehouse of Charleston told WCIV he supports the 50 cents a pack increase.

“They’re going to buy them anyway. Once you start smoking cigarettes it’s hard to quit, and if our higher tax help somebody quit, I wouldn’t have a problem with that,” says Limehouse. [Read more...]

Filed Under: News, Politics & Government, Taxes
« Older Posts