South Carolina General Assembly
109th Session, 1991-1992

Bill 4542


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Introducing Body:               House
Bill Number:                    4542
Primary Sponsor:                Baxley
Committee Number:               30
Type of Legislation:            GB
Subject:                        Income tax deductions, donated
                                agricultural produce
Residing Body:                  House
Computer Document Number:       BBM/9721.JM
Introduced Date:                Mar 10, 1992
Last History Body:              House
Last History Date:              Mar 10, 1992
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Baxley
                                Keyserling
Type of Legislation:            General Bill



History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 4542  House   Mar 10, 1992  Introduced, read first time,    30
                             referred to Committee

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-7-435, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS ALLOWED FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INDIVIDUAL INCOME TAX, SO AS TO ALLOW A DEDUCTION FOR THE WHOLESALE VALUE OF AGRICULTURAL PRODUCE WHICH A FARMER ALLOWS TO BE REMOVED FROM HIS LAND AFTER COMMERCIAL HARVESTING IF HIS DONATION OF PRODUCE QUALIFIES FOR THE CIVIL LIABILITY EXEMPTION FOR DONATED FOOD PROVIDED BY CHAPTER 74 OF TITLE 15 OF THE 1976 CODE, TO REQUIRE THE DONOR TO REPORT FARM INCOME OR LOSS ON HIS FEDERAL INCOME TAX RETURN, AND TO PROVIDE THAT THE SOUTH CAROLINA TAX COMMISSION SHALL PRESCRIBE PROCEDURES TO DETERMINE THE WHOLESALE VALUE OF THE DONATED PRODUCE.

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

SECTION 1. Section 12-7-435 of the 1976 Code, as last amended by Part II, Section 3 of Act 171 of 1991, is further amended by adding an appropriately lettered item to read:

"( ) The wholesale value of produce which a farmer allows a nonprofit or charitable organization to remove from his land after commercial harvesting if his donation qualifies for the exemption from civil liability provided food donors pursuant to Chapter 74 of Title 15 and if the donor reports farm income or loss on schedule F filed with his federal income tax return for the taxable year for which he claims the deduction allowed by this item. The commission shall prescribe procedures to determine the wholesale value of the donated produce."

SECTION 2. Upon approval by the Governor, this act applies for taxable years beginning after 1991.

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