South Carolina Governor Nikki Haley (R) signed legislation (H.R. 3059) on May 14, 2012, reinstating an income tax credit for the purchase or lease of new plug-in hybrid vehicles for tax years 2012 through 2016. The credit is equal to $667, plus $111 if the vehicle has at least five kilowatt-hours of battery capacity. The taxpayer may receive an additional $111 for each kilowatt-hour of battery capacity that exceeds five kilowatt-hours. The maximum credit allowed per taxpayer is $2,000.
To qualify, the vehicle must be manufactured primarily for use on public streets and highways and the taxpayer must provide certification from the vehicle manufacturer verifying it as a plug-in hybrid vehicle and its battery capacity. The credit applies to vehicles purchased or leased in the state on or after July 1.
