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Session 124 - (2021-2022)Printer Friendly
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S 1087 General Bill, By Peeler, Alexander, Kimbrell, Shealy, Turner, Climer, M. Johnson, Martin, Corbin, Davis, Massey, Rice, Adams, Garrett, Cash, Young, Malloy, Williams, Loftis, Gambrell, Talley, Cromer, Scott, Jackson, Stephens, Campsen, Verdin, Grooms and McElveen
Summary: Comprehensive tax cut act of 2022
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, SO AS TO ENACT THE "COMPREHENSIVE TAX CUT ACT OF 2022"; TO AMEND SECTION 12-6-510, RELATING TO THE INDIVIDUAL INCOME TAX, SO AS TO REDUCE THE TOP MARGINAL RATE TO 5.7 PERCENT; TO AMEND SECTION 12-6-1171, RELATING TO THE MILITARY RETIREMENT DEDUCTION, SO AS TO EXEMPT ALL MILITARY RETIREMENT INCOME; TO AMEND SECTION 12-37-220, AS AMENDED, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO INCREASE A PROPERTY TAX EXEMPTION FOR CERTAIN MANUFACTURING PROPERTY; TO APPROPRIATE ONE BILLION DOLLARS FROM THE CONTINGENCY RESERVE FUND TO THE TAXPAYER REBATE FUND TO PROVIDE REBATES TO TAXPAYERS; AND TO REPEAL SECTION 12-6-515 RELATING TO AN ARCHAIC INDIVIDUAL INCOME TAX PROVISION.
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Summary: Comprehensive tax cut act of 2022
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, SO AS TO ENACT THE "COMPREHENSIVE TAX CUT ACT OF 2022"; TO AMEND SECTION 12-6-510, RELATING TO THE INDIVIDUAL INCOME TAX, SO AS TO REDUCE THE TOP MARGINAL RATE TO 5.7 PERCENT; TO AMEND SECTION 12-6-1171, RELATING TO THE MILITARY RETIREMENT DEDUCTION, SO AS TO EXEMPT ALL MILITARY RETIREMENT INCOME; TO AMEND SECTION 12-37-220, AS AMENDED, RELATING TO PROPERTY TAX EXEMPTIONS, SO AS TO INCREASE A PROPERTY TAX EXEMPTION FOR CERTAIN MANUFACTURING PROPERTY; TO APPROPRIATE ONE BILLION DOLLARS FROM THE CONTINGENCY RESERVE FUND TO THE TAXPAYER REBATE FUND TO PROVIDE REBATES TO TAXPAYERS; AND TO REPEAL SECTION 12-6-515 RELATING TO AN ARCHAIC INDIVIDUAL INCOME TAX PROVISION.
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02/17/22 | Senate | Introduced and read first time (Senate Journal-page 6) |
02/17/22 | Senate | Referred to Committee on Finance (Senate Journal-page 6) |
03/08/22 | Senate | Committee report: Favorable with amendment Finance (Senate Journal-page 13) |
03/10/22 | Senate | Committee Amendment Adopted (Senate Journal-page 17) |
03/10/22 | Senate | Read second time (Senate Journal-page 17) |
03/10/22 | Senate | Roll call Ayes-40 Nays-0 (Senate Journal-page 17) |
03/15/22 | Senate | Read third time and sent to House (Senate Journal-page 19) |
03/15/22 | Senate | Roll call Ayes-39 Nays-0 (Senate Journal-page 19) |
03/29/22 | House | Introduced and read first time (House Journal-page 38) |
03/29/22 | House | Referred to Committee on Ways and Means (House Journal-page 38) |
05/05/22 | House | Committee report: Favorable with amendment Ways and Means (House Journal-page 83) |
05/06/22 | Scrivener's error corrected | |
05/10/22 | House | Amended (House Journal-page 588) |
05/10/22 | House | Read second time (House Journal-page 588) |
05/10/22 | House | Roll call Yeas-110 Nays-0 (House Journal-page 594) |
05/10/22 | House | Reconsider vote whereby read second time (House Journal-page 612) |
05/10/22 | House | Debate adjourned (House Journal-page 612) |
05/11/22 | House | Motion to reconsider tabled |
05/11/22 | House | Read third time and returned to Senate with amendments (House Journal-page 11) |
05/11/22 | Senate | Non-concurrence in House amendment (Senate Journal-page 178) |
05/11/22 | House | House insists upon amendment and conference committee appointed Reps. Simrill, GM Smith, Rutherford (House Journal-page 295) |
05/12/22 | Senate | Conference committee appointed Peeler, Setzler, Alexander (Senate Journal-page 35) |