SC H4164

Provides a 33% tax credit against state income, bank, or premium tax for investments in community development corporations (CDCs) or community development financial institutions (CDFIs), and a 50% credit for cash donations to these certified entities

Caps total credits at $15 million aggregate across all taxpayers and taxable years, with an annual limit of $3 million; no single CDC or CDFI may receive more than 25% of annual credits

Reserves 25% of annual tax credits during the first three quarters exclusively for small, rural-based community development corporations

Allows banks and financial institutions to invest in CDCs and CDFIs up to 10% of their total capital and surplus

Credits may be carried forward for up to three years if they exceed tax liability; the program terminates on June 30, 2030, unless reauthorized by the General Assembly