1. Reauthorize community development tax credits

2. Advocate for anti-predatory lending legislation: Pass bill s.910

3. Advancing SC housing’s housing trust fund home repair program

We encourage the South Carolina General Assembly to allocate South Carolina Community Development Tax Credits to support Community Development organizations across South Carolina who are providing access to rental and homeownership, small business lending and technical assistance, workforce development, financial literacy, and home preservation.

Allocation Request: $3 Million annually for five years

A SC taxpayer may claim as a credit against their state income tax, bank tax, or premium tax liability for contributions made to a certified Community Development Corporation (CDC) or Community Development Financial Institution (CDFI). Tax Credit for all Equity Investments are 33% of the Equity Investment Amount and Tax Credit for all Cash Donations are 50% of the Donation amount.

SCACED is part of the SC Fair Lending Alliance advocating for a proposed legislation designed to implement more stringent regulations on payday and installment lenders, specifically focusing on addressing unlawful trade practices within this sector in South Carolina.

Senate bill S.910 seeks to establish that predatory lenders, such as payday and auto title lenders, are violating the state’s fair-trade laws by intentionally targeting, misleading, and entrapping vulnerable borrowers in cycles of debt. Other violations of the state’s fair-trade laws include:

• Failing to analyze borrower’s ability to fully repay loan

• Making loan to consumer who does not have the ability to repay loan after required analysis

• Mailing unsolicited checks, debit, or credit cards

• Renewing an installment loan for a third time, or more, within 180 days

• Renewing a payday loan within 30 days of the original loan

• Adding additional fees to each loan

• Targeted marketing on low-wealth communities

We are committed to advocating for housing policies that eliminate excessively burdensome administrative and eligibility criteria, streamlining the state's housing program and making it more efficient. Such changes could positively affect the creation of sustainable economic opportunities for all residents of South Carolina.  

program improvements

• Elimination of the Essential Housing Checklist

• Simplify the Electronic Application Process

• Follow State Requirements for Workers’ Compensation

• Asbestos Testing