South Carolina General Assembly
109th Session, 1991-1992

Bill 326

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Indicates New Matter 

                    Current Status

Introducing Body:               Senate
Bill Number:                    326
Primary Sponsor:                Waddell
Committee Number:               30
Type of Legislation:            GB
Subject:                        Estate Tax Act, certain references
                                updated
Residing Body:                  House
Current Committee:              Ways and Means
Companion Bill Number:          3271
Computer Document Number:       326
Introduced Date:                Jan 08, 1991
Last History Body:              House
Last History Date:              Jan 31, 1991
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Waddell
                                Leatherman
                                Lourie
                                Hayes
                                Giese
Type of Legislation:            General Bill
History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 326   House   Jan 31, 1991  Introduced, read first time,    30
                             referred to Committee
 326   Senate  Jan 30, 1991  Read third time, sent to House
 326   Senate  Jan 29, 1991  Read second time
 326   Senate  Jan 23, 1991  Committee Report: Favorable     06
 326   Senate  Jan 08, 1991  Introduced and read first       06
                             time, referred to Committee
 326   Senate  Dec 03, 1990  Prefiled, referred to           06
                             Committee
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Indicates Matter Stricken
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COMMITTEE REPORT

January 23, 1991

S. 326

Introduced by SENATORS Waddell, Leatherman, Lourie, Hayes and Giese

S. Printed 1/23/91--S.

Read the first time January 8, 1991.

THE COMMITTEE ON FINANCE

To whom was referred a Bill (S. 326), to amend Section 12-16-20, as amended, Code of Laws of South Carolina, 1976, relating to definitions for purposes, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass:

JAMES M. WADDELL, JR., for Committee.

STATEMENT OF ESTIMATED FISCAL IMPACT

Senate Bill 326 amends Section 12-16-20, as amended, relating to definitions for purposes of the South Carolina Estate Tax Act, so as to update the reference date of this state's adoption of various provisions of the Internal Revenue Code of 1986.

This Bill would have no effect on state or local revenue.

Approved By:

S. Hunter Howard, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTION 12-16-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE SOUTH CAROLINA ESTATE TAX ACT, SO AS TO UPDATE THE REFERENCE DATE OF THIS STATE'S ADOPTION OF VARIOUS PROVISIONS OF THE INTERNAL REVENUE CODE OF 1986.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-16-20(5) of the 1976 Code, as last amended by Section 3B, Part II, Act 612 of 1990, is further amended to read:

"(5) 'Internal Revenue Code' means the Internal Revenue Code of 1986, as amended through December 31, 1989 1990."

SECTION 2. Upon approval by the Governor, this act is effective with respect to estates of decedents dying after 1990.

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