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Session 122 - (2017-2018)Printer Friendly
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H*5341 (Rat #0295, Act #0266 of 2018) General Bill, By Lucas, White, Simrill, Rutherford, Murphy, S. Rivers and Davis
Similar (S 1258)
Summary: SC Taxpayer Protection and Relief Act
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, SO AS TO ENACT THE "SOUTH CAROLINA TAXPAYER PROTECTION AND RELIEF ACT"; TO AMEND SECTION 12-6-40, 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 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; TO AMEND SECTION 12-6-50, RELATING TO PROVISIONS OF THE INTERNAL REVENUE CODE NOT ADOPTED BY THIS STATE, SO AS TO NOT ADOPT CERTAIN PROVISIONS; TO AMEND SECTION 12-6-520, RELATING TO THE ANNUAL ADJUSTMENT TO THE INCOME TAX BRACKETS, SO AS TO DELETE A PROVISION THAT LIMITS THE INFLATION ADJUSTMENT TO ONE-HALF OF THE ACTUAL INFLATION RATE AND TO USE THE CHAINED CONSUMER PRICE INDEX TO MAKE THE ADJUSTMENT; TO AMEND SECTION 12-6-1140, RELATING TO INCOME TAX DEDUCTIONS, SO AS TO ADD A SOUTH CAROLINA DEPENDENT EXEMPTION AND TO ADJUST THE AMOUNT OF THE EXEMPTION EACH YEAR FOR INFLATION; AND TO AMEND SECTION 12-6-1160, RELATING TO THE DEPENDENT EXEMPTION FOR CHILDREN UNDER SIX YEARS OLD, SO AS TO PROVIDE THAT THE AMOUNT OF THE DEDUCTION IS EQUAL TO THE AMOUNT OF THE SOUTH CAROLINA DEPENDENT EXEMPTION. - ratified title
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Similar (S 1258)
Summary: SC Taxpayer Protection and Relief Act
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, SO AS TO ENACT THE "SOUTH CAROLINA TAXPAYER PROTECTION AND RELIEF ACT"; TO AMEND SECTION 12-6-40, 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 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; TO AMEND SECTION 12-6-50, RELATING TO PROVISIONS OF THE INTERNAL REVENUE CODE NOT ADOPTED BY THIS STATE, SO AS TO NOT ADOPT CERTAIN PROVISIONS; TO AMEND SECTION 12-6-520, RELATING TO THE ANNUAL ADJUSTMENT TO THE INCOME TAX BRACKETS, SO AS TO DELETE A PROVISION THAT LIMITS THE INFLATION ADJUSTMENT TO ONE-HALF OF THE ACTUAL INFLATION RATE AND TO USE THE CHAINED CONSUMER PRICE INDEX TO MAKE THE ADJUSTMENT; TO AMEND SECTION 12-6-1140, RELATING TO INCOME TAX DEDUCTIONS, SO AS TO ADD A SOUTH CAROLINA DEPENDENT EXEMPTION AND TO ADJUST THE AMOUNT OF THE EXEMPTION EACH YEAR FOR INFLATION; AND TO AMEND SECTION 12-6-1160, RELATING TO THE DEPENDENT EXEMPTION FOR CHILDREN UNDER SIX YEARS OLD, SO AS TO PROVIDE THAT THE AMOUNT OF THE DEDUCTION IS EQUAL TO THE AMOUNT OF THE SOUTH CAROLINA DEPENDENT EXEMPTION. - ratified title
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| 05/01/18 | House | Introduced and read first time (House Journal-page 62) |
| 05/01/18 | House | Referred to Committee on Ways and Means (House Journal-page 62) |
| 05/01/18 | House | Recalled from Committee on Ways and Means (House Journal-page 82) |
| 05/01/18 | House | Roll call Yeas-113 Nays-0 (House Journal-page 83) |
| 05/02/18 | House | Member(s) request name added as sponsor: Murphy, S.Rivers |
| 05/03/18 | House | Member(s) request name added as sponsor: Davis |
| 05/03/18 | House | Read second time (House Journal-page 16) |
| 05/03/18 | House | Roll call Yeas-100 Nays-0 (House Journal-page 16) |
| 05/03/18 | House | Unanimous consent for third reading on next legislative day (House Journal-page 17) |
| 05/04/18 | House | Read third time and sent to Senate (House Journal-page 1) |
| 05/08/18 | Senate | Introduced and read first time (Senate Journal-page 16) |
| 05/08/18 | Senate | Referred to Committee on Finance (Senate Journal-page 16) |
| 10/02/18 | Senate | Committee report: Favorable with amendment Finance (Senate Journal-page 3) |
| 10/02/18 | Senate | Committee Amendment Adopted (Senate Journal-page 3) |
| 10/02/18 | Senate | Read second time (Senate Journal-page 9) |
| 10/02/18 | Senate | Roll call Ayes-37 Nays-4 (Senate Journal-page 9) |
| 10/03/18 | Scrivener's error corrected | |
| 10/03/18 | Senate | Read third time and returned to House with amendments |
| 10/03/18 | House | Concurred in Senate amendment and enrolled (House Journal-page 25) |
| 10/03/18 | House | Roll call Yeas-117 Nays-0 (House Journal-page 26) |
| 10/03/18 | Ratified R 295 | |
| 10/03/18 | Signed By Governor | |
| 10/09/18 | Effective date See Act | |
| 10/09/18 | Act No. 266 |