We engage in advocacy and strategic partnerships that facilitate the deployment and attraction of capital to benefit under-resourced communities.
CURRENT POLICY PRIORITIES
SCCLF stands with coalitions of community development advocates to advance policies on the state and federal level that facilitate equitable access to capital in South Carolina communities.
- Healthy Food Financing Initiative: The South Carolina Healthy Food Financing Initiative provides access to loans to support local farmers and businesses to renovate or expand food projects in underserved communities. The S.C. Food Access Task Force was developed in 2012 to set forth an implementation plan for a statewide, state-sponsored HFFI. The South Carolina HFFI received its first appropriation of $250,000 from the South Carolina General Assembly during the 2016 legislative session. Unfortunately, this funding was not appropriated in 2019. We will continue our efforts to advocate for HFFI funding at the state level in the future. More information on this initiative and the food access task force can be found at scfoodaccess.com.
- SC Community Development Tax Credit: South Carolina provides valuable tax incentives to people who support Community Development Corporations (CDCs) and Community Development Financial Institutions (CDFIs). A 33% credit is provided for each dollar invested in or donated to a certified CDC or CDFI, significantly reducing the effective cost of making a donation and allowing a donor to earn an attractive rate of return on their investment. This year, the SC General Assembly extended the legislation sunset period to 2023. SCCLF is committed to increasing the number of community development tax credits available and to making this legislation permanent.
- CDFI Fund and FY 2020 Budget: SCCLF stands with national partners such as Opportunity Finance Network and the CDFI Coalition to advocate for $300MM in CDFI fund appropriations.
- Community Reinvestment Act: We advocate for the preservation and modernization of CRA.
- New Markets Tax Credits: SCCLF supports the efforts of national partners in advocating for the reauthorization of NMTCs and the passing of the New Markets Tax Credit Extension Act.
- Summits: SCCLF has hosted annual summits aimed at increasing healthy food access and affordable housing in SC. Both the Housing Policy Summit and the Food Access Summit were hosted in Columbia and were one-day events. Building off the energy of our past events, the SC Housing Policy Summit, the SC Food Access Summit, and the Thought Leader Speaker Series, we launched a new combined event in 2018. The Investing in Community Summit, now in its second year, places a focus on learning from policy influencers across the state as they share strategies for advocating for capital access in Columbia and beyond.
SCCLF has been a leading voice in local and statewide advocacy efforts, and its staff serves as a director or committee member of the following organizations: