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1022Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20020214Primary Sponsor: BauerAll Sponsors: Bauer and HayesDrafted Document Number: l:\council\bills\skb\18188zcw02.docResiding Body: SenateCurrent Committee: Finance Committee 06 SFSubject: Reserve police officers, allowed same income tax deduction as volunteer firefighters and rescue squad membersHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20020214 Introduced, read first time, 06 SF 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 INDIVIDUAL TAXABLE INCOME, SO AS TO ALLOW RESERVE POLICE OFFICERS THE SAME DEDUCTION AS ALLOWED FOR VOLUNTEER FIREFIGHTERS AND RESCUE SQUAD MEMBERS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140(10) of the 1976 Code is amended to read:
"(10) three hundred dollars for taxable year 1999 and three thousand dollars for taxable year 2000 for a volunteer firefighter,
or rescue squad member, or a reserve police officer. For taxable years after 2000, the Board of Economic Advisors annually shall estimate a maximum deduction that may be permitted under this section for a taxable year based on an individual income tax revenue loss of three million one hundred thousand dollars attributable to this deduction and shall certify that maximum deduction to the Department of Revenue and for the applicable taxable year, the maximum deduction amount must not exceed the lesser of the certified estimate or three thousand dollars. Only a volunteer firefighter or rescue squad member earning a minimum number of points pursuant to Section 23-9-190 is eligible for this deduction."
SECTION 2. This act takes effect upon approval by the Governor and applies for tax years beginning after December 31, 2002.
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