FOR RELEASE FEBRUARY 8 2008

For more information please contact:

SCRA

Russ Keller

843.760.4358

kellerr@scra.org

SCRA Announces Procedure for Making Tax Deductible Contributions to the South Carolina Hydrogen Infrastructure Development Fund

FEBRUARY 8, 2008 – Charleston , SC -- SCRA announced today the procedure for citizens to make a tax deductible contribution to the South Carolina Hydrogen Infrastructure Development Fund (HIDF). In June 2007, the South Carolina General Assembly enacted S 243, which established the South Carolina HIDF.  The revenues from this fund must be distributed in the form of grants and used for the purpose of promoting the development and deployment of hydrogen production, storage, distribution, and dispensing infrastructure and related products and services that enable the growth of hydrogen and fuel cell technologies in the State.  The General Assembly authorized two mechanisms through which revenue can be made available to the HIDF: 

            a.  Direct appropriations from the State’s general fund in fiscal years 2008, 2009 and 2010, not to exceed a total of $15 million; and/or

            b.  Donations to the fund from taxpayers, who would receive a 25% credit against South Carolina income tax, license fees, or insurance premium tax.  The credit is non-refundable with a 10-year carry forward provision.

S 243 designated SCRA as executor of the Fund on behalf of the state of South Carolina , and directed SCRA to administer the process of receiving taxpayer contributions to the Fund and issuing the requisite tax credit certifications.

Any person or organization desiring to contribute to this Fund may do so by sending a check, payable to “ South Carolina HIDF” to the following address:

SC Hydrogen Infrastructure Development Fund
c/o South Carolina Research Authority
5300 International Blvd.
N. Charleston, SC 29418
Attn:  Julia Martin

Contributors should include the donor’s full name and home/business address, and indicate where the tax credit certification should be mailed. Upon receipt of the contribution, SCRA will issue the tax credit certification and deposit the contribution in the account prescribed by the South Carolina Department of Treasury for this purpose.

About SCRA

SCRA is a global leader in applied research and commercialization services with offices in Anderson, Charleston, and Columbia. SCRA collaborates to advance technology with industry, government, and research universities like Clemson University, the University of South Carolina and the Medical University of South Carolina. For more information

please visit www.scra.org.

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