S.C. Code Ann. § 12-2-100

(A) Unless otherwise provided by law, a tax credit administered by the department must be used in the year it is generated and must not be refunded. (B) A tax credit earned by a partnership or limited liability company taxed as a partnership pursuant to Sections 12-6-3535, 12-6-3795, or 12-65-10, including any unused credit amount carried forward, may be passed through to the partners or members and may be allocated among any of its partners or members on an annual basis including, without limitation, an allocation of the entire credit to any partner or member who was a partner or member at any time in the year in which the credit or unused carryforward was allocated. The allocation must be allowed without regard to any provision of the Internal Revenue Code, or regulation promulgated pursuant to it, that may be interpreted as contrary to the allocation including, without limitation, the treatment of the allocation as a disguised sale. Editor's Note 2021 Act No. 63, SECTION 2, provides as follows: "SECTION 2. This act takes effect upon approval by the Governor and applies to a qualified project in service after January 1, 2020, but before December 31, 2030, if the project is issued an eligibility statement after May 14, 2020." Effect of Amendment 2021 Act No. 63, SECTION 1, inserted the (A) designator, and added (B).