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Current Status Bill Number:View additional legislative information at the LPITS web site.3781 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19990324 Primary Sponsor:Knotts All Sponsors:Knotts, Koon, Simrill, Bowers, Clyburn, Davenport, Gourdine, Hawkins, Lucas, McCraw, McGee, McMahand, Phillips, Riser, Stille and Townsend Drafted Document Number:l:\council\bills\kgh\15408htc99.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Income tax deductions, employer-paid obligations, service credit in retirement systems; Taxation History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 19990324 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM THE SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW THE DEDUCTION OF EMPLOYER-PAID OBLIGATIONS OF AN EMPLOYEE TO ESTABLISH SERVICE CREDIT IN THE VARIOUS STATE RETIREMENT SYSTEMS.
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 419 of 1998, is further amended by adding an appropriately numbered item at the end to read:
"( ) amounts paid by an employer otherwise required to be paid by an employee or officer who is a member of one of the state retirement systems provided in Title 9 in order for the member to establish additional service credit in the system."
SECTION 2. This act is effective for taxable years beginning after 1997.
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