SC S0556

Creates a 25% tax credit for costs incurred purchasing and installing equipment to produce renewable natural gas from landfill gas for commercial purposes

Limits annual credit usage to 25% of total credit or $5 million, whichever is less, with unused credits earned before end of 2028 carrying forward for 15 years

Defines renewable natural gas as biomethane derived from landfill gas with methane concentration of 90% or greater, upgraded to fossil natural gas quality

Applies to taxable years beginning after 2025 and ending before 2032, with credits applicable against income tax or license fees

Requires taxpayers to submit credit requests to the State Energy Office by January 31 for equipment placed in service in the previous calendar year; credits are transferable to other eligible persons