Current Status Bill Number:4121 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950412 Primary Sponsor:Moody-Lawrence All Sponsors:Moody-Lawrence Drafted Document Number:jic\5795ac.95 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Income tax deduction, health insurance, teachers
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19950412 Introduced, read first time, 30 HWM
referred to Committee
View additional legislative information at the LPITS web site.
TO AMEND SECTION 12-7-435, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM TAXABLE INCOME, SO AS TO INCLUDE AS A DEDUCTION PAYMENTS FOR HEALTH INSURANCE PREMIUMS FOR PUBLIC SCHOOL TEACHERS WHO RETIRED BEFORE 1970.
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 Acts 516 and 497 of 1994, is further amended by adding an appropriately numbered item to read:
"( ) A South Carolina public school teacher who retired before 1970 may deduct payments for health insurance premiums to the extent the premiums are not deductible for federal income tax purposes."
SECTION 2. This act applies to taxable years beginning after 1995.
SECTION 3. This act takes effect upon approval by the Governor.