Current Status Introducing Body:House Bill Number:3187 Primary Sponsor:Kirsh Committee Number:30 Type of Legislation:GB Subject:Income tax deduction, three thousand dollar eliminated Residing Body:House Current Committee:Ways and Means Date Tabled:Apr 09, 1991 Computer Document Number:JIC/5038.HC Introduced Date:Jan 09, 1991 Last History Body:House Last History Date:Apr 09, 1991 Last History Type:Tabled in Committee Scope of Legislation:Statewide All Sponsors:Kirsh Type of Legislation:General Bill
Bill Body Date Action Description CMN
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3187 House Apr 09, 1991 Tabled in Committee 30
3187 House Jan 09, 1991 Introduced and read first 30
time, referred to Committee
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TO AMEND SECTION 12-7-435, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INCOME TAX, SO AS TO ELIMINATE THE THREE THOUSAND DOLLAR DEDUCTION ALLOWED FROM FEDERAL CIVIL SERVICE AND MILITARY PENSIONS, BENEFITS FROM QUALIFIED PENSION PLANS, AND BENEFITS FROM THE VARIOUS STATE AND LOCAL GOVERNMENT RETIREMENT SYSTEMS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-7-435(a), (b), and (c) of the 1976 Code are amended to read:
"(a) Reserved Any retired person, or his surviving spouse, who receives a federal civil service retirement annuity is allowed to deduct from taxable income three thousand dollars of the annuity received each taxable year exclusive of any other exemption. The provisions of this item do not apply to retired persons who are now exempt from payment of taxes on federal civil service retirement annuities.
(b) Reserved Any person retired from the uniformed services of the United States with twenty or more years active duty service, or his surviving spouse, is allowed to deduct from taxable income three thousand dollars of his uniformed services retirement pay received each taxable year.
(c) Reserved Any retired person, or his surviving spouse, who attains the age of sixty-five before the close of the taxable year and who receives income under one or more qualified pension programs is allowed to deduct from taxable income three thousand dollars of the pension income received in each taxable year. If the pension income also qualifies for a deduction from taxable income under the provisions of items (a) or (b) of this section, no deduction from taxable income is permitted under the provisions of this item."
SECTION 2. Section 12-7-435(d) and (e) of the 1976 Code, as last amended by Section 39, Part II, Act 189 of 1989, are further amended to read:
"(d) Reserved The first three thousand dollars of the total amount received by a taxpayer from the various state retirement systems as provided in Title 9 and from the retirement systems of other states.
(e) Reserved The first three thousand dollars of retirement pay received by police officers or firemen from a South Carolina municipality or county group retirement plan."
SECTION 3. Upon approval by the Governor, this act is effective for taxable years beginning after 1990.