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S. 358
STATUS INFORMATION
General Bill
Sponsors: Senator Kimpson
Document Path: l:\council\bills\bbm\9581dg17.docx
Introduced in the Senate on February 7, 2017
Currently residing in the Senate Committee on Finance
Summary: Income tax credit
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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2/7/2017 Senate Introduced and read first time (Senate Journal-page 3)
2/7/2017 Senate Referred to Committee on Finance (Senate Journal-page 3)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-3632 SO AS TO ALLOW AN INCOME TAX CREDIT EQUAL TO TWENTY PERCENT OF THE FEDERAL EARNED INCOME TAX CREDIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 25, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-3632. There is allowed as a refundable credit against the tax imposed pursuant to Section 12-6-510 on a full-year resident individual taxpayer an amount equal to twenty percent of the earned income tax credit (EITC) allowed the taxpayer pursuant to Internal Revenue Code Section 32."
SECTION 2. This act takes effect upon approval by the Governor and applies to tax years beginning after 2016.
This web page was last updated on
February 10, 2017 at 2:04 PM