South Carolina 2025-2026 Regular Session Status: In Committee

H 3751 — Taxation of digital assets

Last action — Member(s) request name added as sponsor: White, Kilmartin, Beach, Pace, Gilreath, Cromer, Oremus, Huff, Magnuson

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced January 15, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Stalled 24% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 10 sponsors

    10 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1120, RELATING TO MODIFICATIONS OF GROSS INCOME, SO AS TO EXCLUDE INCOME DERIVED FROM THE RECEIPT, SALE, EXCHANGE, OR OTHERWISE DISPOSAL OF DIGITAL ASSETS SUCH AS CRYPTOCURRENCY.

Bill Text

What changed in the latest version

19 added · 2 removed

Plain-language change summary

The recent amendment to Bill H 3751 updates the South Carolina tax code to exclude income generated from digital assets, such as cryptocurrency, from being considered in gross income. This means that individuals will not have to pay state taxes on profits made from buying, selling, or trading these digital currencies. This change is significant as it aims to encourage the use of digital assets in South Carolina, potentially attracting more businesses and investors to the state. The law will take effect for tax years beginning after 2024.

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2025-2026 Bill 3751 Text of Previous Version (Jan.
15, 2025) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 3751Indicates Matter StrickenIndicates New Matter(Text matches printed bills.
Document has been reformatted to meet World Wide Web specifications.)                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1120, RELATING TO MODIFICATIONS OF GROSS INCOME, SO AS TO EXCLUDE INCOME DERIVED FROM THE RECEIPT, SALE, EXCHANGE, OR OTHERWISE DISPOSAL OF DIGITAL ASSETS SUCH AS CRYPTOCURRENCY.
  Be it enacted by the General Assembly of the State of South Carolina:
  SECTION 1.  Section 12-6-1120 of the S.C.
Code is amended by adding:
      (12) South Carolina gross income does not include any income included in federal gross income that is derived from the receipt, sale, exchange, or otherwise disposal of digital assets such as cryptocurrency.
  SECTION 2.  This act takes effect upon approval by the Governor and first applies to tax years beginning after 2024.
----XX---- This web page was last updated on January 15, 2025 at 03:50 PM
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Action History

  1. Member(s) request name added as sponsor: White, Kilmartin, Beach, Pace, Gilreath, Cromer, Oremus, Huff, Magnuson

  2. Referred to Committee on Ways and Means

  3. Introduced and read first time

Sponsors

Sponsorship breakdown

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10 sponsors · 0 co-sponsors · 160 not signed on

Sponsors (10)

Co-sponsors (0)

None.

Not signed on (160)

160 members have not signed on to this bill.

Show all 160 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation technology
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Frequently asked questions

What does H 3751 do?
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1120, RELATING TO MODIFICATIONS OF GROSS INCOME, SO AS TO EXCLUDE INCOME DERIVED FROM THE RECEIPT, SALE, EXCHANGE, OR OTHERWISE DISPOSAL OF DIGITAL ASSETS SUCH AS CRYPTOCURRENCY.
Who sponsors H 3751?
H 3751 is sponsored by Representative Justin T. Bamberg, Representative Joseph S. "Joe" White, Representative John Gregory "Jay" Kilmartin, Representative Thomas Beach, Representative Jordan S. Pace, Representative Thomas Lee Gilreath, Representative April Cromer, Representative Melissa Lackey Oremus, Representative William C. "Chris" Huff, and Representative Josiah Magnuson.
What is the current status of H 3751?
This bill is in committee in the House. Introduced January 15, 2025. It must pass committee before a floor vote.
Where can I track H 3751?
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