South Carolina General Assembly
110th Session, 1993-1994

Bill 3909

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Indicates New Matter 

                    Current Status

Introducing Body:               House
Bill Number:                    3909
Primary Sponsor:                Kirsh
Committee Number:               06
Type of Legislation:            GB
Subject:                        Income tax, Internal Revenue
                                Code
Residing Body:                  Senate
Current Committee:              Finance
Computer Document Number:       JIC/5727HC.93
Introduced Date:                19930413
Last History Body:              Senate
Last History Date:              19930525
Last History Type:              Introduced, read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Kirsh
Type of Legislation:            General Bill
History


Bill  Body    Date          Action Description              CMN  Leg Involved
____  ______  ____________  ______________________________  ___  ____________

3909  Senate  19930525      Introduced, read first time,    06
                            referred to Committee
3909  House   19930520      Read third time, sent to
                            Senate
3909  House   19930519      Read second time
3909  House   19930505      Committee Report: Favorable     30
3909  House   19930413      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.)

Indicates Matter Stricken
Indicates New Matter

COMMITTEE REPORT

May 5, 1993

H. 3909

Introduced by REP. Kirsh

S. Printed 5/5/93--H.

Read the first time April 13, 1993.

THE COMMITTEE ON WAYS AND MEANS

To whom was referred a Bill (H. 3909), to amend Section 12-7-20, as amended, Code of Laws of South Carolina, 1976, relating to definitions for purposes of the state income tax, etc., respectfully

REPORT:

That they have duly and carefully considered the same, and recommend that the same do pass with amendment:

STATEMENT OF ESTIMATED FISCAL IMPACT

This Bill amends Section 12-7-20, as amended, relating to definitions for purposes of the state income tax, so as to update the reference date whereby this state adopts certain provisions of the Internal Revenue Code of 1986.

This Bill would have no effect on state or local revenue.

The proposal updates the South Carolina income tax code to changes made in the Internal Revenue Code through December 31, 1992. The amendment is an annual change to keep South Carolina in compliance with the Internal Revenue Code so that simplified forms can be maintained and information captured by the Internal Revenue Service can be used by the State and vis versa. The proposed change would have no effect on state or local revenue in the upcoming year.

Approved By:

James M. Waddell, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTION 12-7-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE STATE INCOME TAX, SO AS TO UPDATE THE REFERENCE DATE WHEREBY THIS STATE ADOPTS CERTAIN PROVISIONS OF THE INTERNAL REVENUE CODE OF 1986.

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

SECTION 1. Section 12-7-20(11) of the 1976 Code, as last amended by Act 361 of 1992, is further amended to read:

"(11) `Internal Revenue Code' means the Internal Revenue Code of 1986 as amended through December 31, 1991 1992."

SECTION 2. This act takes effect upon approval by the Governor.

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