South Carolina General Assembly
122nd Session, 2017-2018

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Indicates Matter Stricken
Indicates New Matter

A4, R10, S250

STATUS INFORMATION

General Bill
Sponsors: Senators Leatherman, Setzler and Alexander
Document Path: l:\council\bills\bbm\9578dg17.docx

Introduced in the Senate on January 12, 2017
Introduced in the House on February 1, 2017
Passed by the General Assembly on March 24, 2017
Governor's Action: April 5, 2017, Signed

Summary: Internal Revenue Code

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   1/12/2017  Senate  Introduced and read first time (Senate Journal-page 1)
   1/12/2017  Senate  Referred to Committee on Finance (Senate Journal-page 1)
   1/24/2017  Senate  Committee report: Favorable Finance 
                        (Senate Journal-page 31)
   1/26/2017  Senate  Read second time (Senate Journal-page 14)
   1/26/2017  Senate  Roll call Ayes-41  Nays-0 (Senate Journal-page 14)
   1/31/2017  Senate  Read third time and sent to House 
                        (Senate Journal-page 30)
    2/1/2017  House   Introduced and read first time (House Journal-page 59)
    2/1/2017  House   Referred to Committee on Ways and Means 
                        (House Journal-page 59)
   3/22/2017  House   Committee report: Favorable Ways and Means 
                        (House Journal-page 41)
   3/23/2017  House   Read second time (House Journal-page 19)
   3/23/2017  House   Roll call Yeas-93  Nays-0 (House Journal-page 20)
   3/23/2017  House   Unanimous consent for third reading on next legislative 
                        day (House Journal-page 21)
   3/24/2017  House   Read third time and enrolled (House Journal-page 5)
    4/4/2017          Ratified R 10
    4/5/2017          Signed By Governor
   4/13/2017          Effective date 4/5/17
   4/17/2017          Act No. 4

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/12/2017
1/24/2017

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A4, R10, S250)

AN ACT TO AMEND SECTION 12-6-40, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICATION OF THE INTERNAL REVENUE CODE TO STATE INCOME TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2016 AND TO PROVIDE THAT IF THE INTERNAL REVENUE CODE SECTIONS ADOPTED BY THIS STATE ARE EXTENDED, THEN THESE SECTIONS ALSO ARE EXTENDED FOR SOUTH CAROLINA INCOME TAX PURPOSES.

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

Internal Revenue Code conformity

SECTION    1.    Section 12-6-40(A)(1)(a) and (c) of the 1976 Code, as last amended by Act 160 of 2016, is further amended to read:

"(a)    Except as otherwise provided, 'Internal Revenue Code' means the Internal Revenue Code of 1986, as amended through December 31, 2016, and includes the effective date provisions contained in it.

(c)    If Internal Revenue Code sections adopted by this State which expired or portions thereof expired on December 31, 2016, are extended, but otherwise not amended, by congressional enactment during 2017, these sections or portions thereof also are extended for South Carolina income tax purposes in the same manner that they are extended for federal income tax purposes."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor.

Ratified the 4th day of April, 2017.

Approved the 5th day of April, 2017.

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This web page was last updated on August 29, 2017 at 3:26 PM