H*2511(Rat #0151, Act #0103 of 1981)  General Bill, By T.G. Mangum, 
B.L. Hendricks, S.H. Howard and Kirsh

Similar(S 283)
 A Bill to amend Section 12-7-660, as amended, Code of Laws of South Carolina,
 1976, relating to adjusted gross income defined and exclusions from gross
 income, so as to permit certain items to be excluded from gross income that
 were heretofore exemptions to or deductions from net income; to add certain
 additional items that shall be allowed as exemptions from gross income; to
 further provide for certain Items that currently are exemptions from gross
 income; to repeal Items (9), (10) and (11) of Section 12-7-310, relating to
 exemptions from net income, to repeal Section 12-7-590, relating to incidental
 expense allowances for public school teachers and to repeal Item (18) of
 Section 12-7-700, relating to contributions by self-employed persons or
 partnerships to retirement funds so as to accomplish the above.

   03/05/81  House  Introduced and read first time HJ-1030
   03/05/81  House  Referred to Committee on Ways and Means HJ-1030
   03/12/81  House  Committee report: Favorable Ways and Means HJ-1186
   04/02/81  House  Debate adjourned HJ-1661
   04/08/81  House  Debate adjourned HJ-1723
   04/09/81  House  Read second time HJ-1769
   04/14/81  House  Read third time and sent to Senate HJ-1827
   04/15/81  Senate Introduced and read first time SJ-19
   04/15/81  Senate Referred to Committee on Finance SJ-19
   05/27/81  Senate Committee report: Favorable Finance SJ-23
   05/28/81  Senate Read second time SJ-17
   06/02/81  Senate Read third time and enrolled SJ-10
   06/10/81  House  Ratified R 151 HJ-3167
   06/12/81         Signed By Governor
   06/12/81         Effective date 06/12/81
   06/12/81         Act No. 103
   06/25/81         Copies available

AN ACT TO AMEND SECTION 12-7-660, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADJUSTED GROSS INCOME DEFINED AND EXCLUSIONS FROM GROSS INCOME; SO AS TO PERMIT CERTAIN ITEMS TO BE EXCLUDED FROM GROSS INCOME THAT WERE HERETOFORE EXEMPTIONS TO OR DEDUCTIONS FROM NET INCOME; TO ADD CERTAIN ADDITIONAL ITEMS THAT SHALL BE ALLOWED AS EXEMPTIONS FROM GROSS INCOME; TO FURTHER PROVIDE FOR CERTAIN ITEMS THAT CURRENTLY ARE EXEMPTIONS FROM GROSS INCOME; TO REPEAL ITEMS (9), (10) AND (11) OF SECTION 12-7-310, RELATING TO EXEMPTIONS FROM NET INCOME, TO REPEAL SECTION 12-7-690, RELATING TO INCIDENTAL EXPENSE ALLOWANCES FOR PUBLIC SCHOOL TEACHERS AND TO REPEAL ITEM (18) OF SECTION 12-7-700, RELATING TO CONTRIBUTIONS BY SELF-EMPLOYED PERSONS OR PARTNERSHIPS TO RETIREMENT FUNDS SO AS TO ACCOMPLISH THE ABOVE.

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

Exclusion from gross income

SECTION 1. Section 12-7-660 of the 1976 Code, as last amended by Section 6, Part II of Act 517 of 1980, is further amended by adding before the last paragraph:

"(10) Moving expenses paid or incurred during the taxable year in connection with the commencement of work by the taxpayer as an employee or as a self-employed individual at a new principal place of work as defined in Section 217 of the Internal Revenue Code of 1954, as amended. Moving expenses incurred by individuals moving from South Carolina during the taxable period shall not be deductible from South Carolina gross income. Any reimbursement received after moving from South Carolina shall not be used in computing South Carolina adjusted gross income.

(11) Contributions by self-employed persons or partnerships on behalf of a partner to a self-employed retirement fund (Keogh Plans) or to an individual retirement program as permitted under the Internal Revenue Code of 1954 as amended.

(12) Two hundred dollars per annum of the salary paid by each school district in the State to each teacher in the district regardless of classification is hereby declared to be a nontaxable incidental expense allowance.

(13) Any retired person who receives a federal civil service retirement annuity shall be allowed to exclude from gross income twelve hundred dollars of such annuity annually in each taxable year. The provisions of this item shall not apply to retired persons who are now exempt from payment of taxes on federal civil service retirement annuities.

(14) Any person retired from the uniformed services of the United States with twenty or more years active duty service shall be allowed to exclude from gross income twelve hundred dollars of his uniformed services retirement pay annually in each taxable year. (15) Any retired person who attains the age of sixty-five before the close of the taxable year and who receives income under an established pension program shall be allowed to exclude from gross income twelve hundred dollars of such pension income annually in each taxable year; provided, that if such pension income is also excluded from gross income under the provisions of items (13) and (14) above it may not also be excluded from gross income under the provisions of this item."

Repealed

SECTION 2. Items (9), (10) and (11) of Section 12-7-310 of the 1976 Code are repealed.

Repealed

SECTION 3. Section 12-7-590 of the 1976 Code is repealed

Repealed

SECTION 4. Item (18) of Section 12-7-700 of the 1976 Code is repealed.

Sections to apply on or after January 1, 1981

SECTION 5. The provisions of Sections 1, 2, 3 and 4 of this act shall be applicable to all tax years beginning on or after January 1, 1981.

Time effective

SECTION 6. This act shall take effect upon approval by the Governor.