Current Status Introducing Body:House Bill Number:3597 Primary Sponsor:Davenport Committee Number:30 Type of Legislation:GB Subject:Income tax credit for dependent disabled person Residing Body:House Current Committee:Ways and Means Computer Document Number:JIC/5450HC.93 Introduced Date:19930302 Last History Body:House Last History Date:19930302 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Davenport Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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3597 House 19930302 Introduced, read first time, 30
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-7-1285 SO AS TO ALLOW A REFUNDABLE STATE INDIVIDUAL INCOME TAX CREDIT EQUAL TO TWO THOUSAND DOLLARS FOR A TAXPAYER WITH WHOM RESIDES A DEPENDENT CLASSIFIED AS PERMANENTLY AND TOTALLY DISABLED AND TO REQUIRE AN OFFSET AGAINST THE CREDIT INCOME OF THE DEPENDENT ON A ONE-FOR-THREE BASIS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 10, Chapter 7, Title 12 of the 1976 Code is amended by adding:
"Section 12-7-1285. (A) A resident individual taxpayer with whom resides at least ten months of the taxable year a dependent classified as permanently and totally disabled by a state or federal agency charged by law with making such classifications is allowed a refundable credit against the tax imposed pursuant to Section 12-7-210 in an amount equal to two thousand dollars. For purposes of this section, a `dependent' is an individual defined as a dependent pursuant to Section 152 of the Internal Revenue Code. Income of the dependent from whatever source derived reduces the amount of the credit by one dollar for each three dollars of income.
(B) The commission may prescribe appropriate verification procedures in the implementation and administration of the credit allowed by this section."
SECTION 2. Upon approval by the Governor, this act is effective with respect to taxable years beginning after 1993.