Current Status Bill Number:3608 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19970306 Primary Sponsor:Easterday All Sponsors:Easterday, McMaster, F. Smith, Young-Brickell, Altman, Cave, Stille, R. Smith, Simrill, Askins, Lloyd, Kelley, Seithel, Rice, Cooper, Govan, Cato, Edge, McMahand, Stoddard, Sandifer, Haskins, Wilkins, Harrison, Loftis, Sharpe, Hamilton, Trotter, Keegan, Beck, Witherspoon, Phillips, Law, Littlejohn, Barfield, Davenport, Riser, Barrett, Rodgers, Campsen, Limehouse, Felder, McCraw, Bauer, Byrd, McLeod, Whatley, Delleney, Baxley, Harrell, Tripp, Vaughn, Mason, Limbaugh, Lanford, McKay, Townsend, T. Brown, Wilder, Leach, D. Smith, Moody-Lawrence and Inabinett Drafted Document Number:dka\4165htc.97 Companion Bill Number:590 Residing Body:Senate Current Committee:Finance Committee 06 SF Date of Last Amendment:19970429 Subject:Income tax deductions, health insurance premiums, self-employed persons; Taxation, medical and health insurance
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ Senate 19970501 Introduced, read first time, 06 SF referred to Committee House 19970430 Read third time, sent to Senate House 19970429 Amended, read second time House 19970424 Committee report: Favorable with 30 HWM amendment House 19970306 Introduced, read first time, 30 HWM referred to CommitteeView additional legislative information at the LPITS web site.
AMENDED
April 29, 1997
H. 3608
Introduced by Reps. Easterday, McMaster, F. Smith, Young-Brickell, Altman, Cave, Stille, R. Smith, Simrill, Askins, Lloyd, Kelley, Seithel, Rice, Cooper, Govan, Cato, Edge, McMahand, Stoddard, Sandifer, Haskins, Wilkins, Harrison, Loftis, Sharpe, Hamilton, Trotter, Keegan, Beck, Witherspoon, Phillips, Law, Littlejohn, Barfield, Davenport, Riser, Barrett, Rodgers, Campsen, Limehouse, Felder, McCraw, Bauer, Byrd, McLeod, Whatley, Delleney, Baxley, Harrell, Tripp, Vaughn, Mason, Limbaugh, Lanford, McKay, Townsend, T. Brown, Wilder, Leach, D. Smith, Moody-Lawrence and Inabinett
S. Printed 4/29/97--H.
Read the first time March 6, 1997.
TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS ALLOWED FROM SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW A DEDUCTION FOR AMOUNTS PAID FOR HEALTH INSURANCE PREMIUMS BY SELF-EMPLOYED PERSONS TO THE EXTENT THAT THE COST OF THESE PREMIUMS WAS NOT DEDUCTED ON THE TAXPAYER'S FEDERAL INCOME TAX RETURN.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140 of the 1976 Code, as last amended by Act 145 of 1995, is further amended by adding an appropriately numbered item at the end to read:
"( ) the portion of premiums not deductible pursuant to Internal Revenue Code Section 162(l) because the 'applicable percentage' as defined in that section is less than one hundred percent."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 1997.