Amend the bill, as and if amended, page 1, by striking SECTION 1.B. and inserting:
/ B. Article 9, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-1171. (A) An individual taxpayer who has military retirement income or retirement income attributable to service as a first responder, each year may deduct an amount of earned income from South Carolina taxable income equal to the amount of the same retirement income, not to exceed fifteen thousand dollars. Beginning in the year in which the taxpayer reaches age sixty-five, the taxpayer may deduct up to thirty thousand dollars of the same retirement income that is included in South Carolina taxable income.
(B) The term 'retirement income' has the same meaning as provided in Section 12-6-1170.
(C) A surviving spouse receiving military retirement described in subsection (A) that is attributable to the deceased spouse shall apply this deduction in the same manner that the deduction applied to the deceased spouse. If the surviving spouse also has another retirement income, an additional retirement exclusion is allowed.
(D) The department may require the taxpayer to provide information necessary for proper administration of this subsection." /
Renumber sections to conform.
Amend title to conform.