Current Status Introducing Body:Senate Bill Number:1052 Primary Sponsor:Passailaigue Committee Number:06 Type of Legislation:JR Subject:Davis V Michigan case Residing Body:Senate Current Committee:Finance Computer Document Number:1052 Introduced Date:Sep 23, 1991 Last History Body:Senate Last History Date:Sep 23, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Passailaigue Rose McConnell Giese Type of Legislation:Joint Resolution
Bill Body Date Action Description CMN
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1052 Senate Sep 23, 1991 Introduced, read first time, 06
referred to Committee
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TO PROVIDE FOR THE MANNER IN WHICH A REFUND IS MADE PURSUANT TO A CLAIM RESULTING FROM THE DECISION OF THE UNITED STATES SUPREME COURT IN DAVIS V. MICHIGAN, AS THAT DECISION MAY APPLY TO THE INDIVIDUAL INCOME TAX LAWS OF THIS STATE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) Except as otherwise provided in this section, a taxpayer who is entitled to a refund pursuant to a claim resulting from the decision of the United States Supreme Court in Davis v. Michigan, as that decision may apply to the individual income tax laws of this State, shall receive the refund as a credit against South Carolina income tax liability for the taxable year in which the South Carolina Tax Commission orders the refund or against income tax liability for the next two successive taxable years. The taxpayer receiving the credit may elect the amounts in which the credit is to be applied over the three years.
(B) A refund must be issued to the estate of a deceased taxpayer and to a nonresident, who is entitled to a refund pursuant to this section.
(C) The provisions of this section apply notwithstanding the provisions of law relating to the payment of income tax refunds.
SECTION 2. This act takes effect upon approval by the Governor.