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COMMITTEE REPORT
April 19, 2001
H. 3116
Introduced by Reps. Keegan, Altman, Whatley, Whipper, Owens, Robinson and Bowers
S. Printed 4/19/01--H.
Read the first time January 9, 2001.
To whom was referred a Bill (H. 3116) to amend Section 12-6-1140, Code of Laws of South Carolina, 1976, relating to deductions from South Carolina taxable income of individuals, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass with amendment:
Amend the bill, as and if amended, page 1, SECTION 2, line 37, by striking / 2000 / and inserting / 2001 / so that when amended SECTION 2 reads:
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 2001.
Renumber sections to conform.
Amend totals and title to conform.
ROBERT W. HARRELL, JR. for Committee.
REVENUE IMPACT1
This bill is expected to reduce general fund individual income tax revenue by an estimated $3.0 million in FY2001-02.
Explanation
Based upon data supplied by the Employment Security Commission, there are an estimated 34,790 individuals employed as law enforcement officers, full-time firefighters, and emergency medical service personnel at the federal, state and local levels of government. The average, full-time individual works 250 days each year (2000 hours divided by 8 hour days). Multiplying 34,790 protective service workers by the number of days worked, multiplied by the $5 increase in the subsistence allowance deduction, and applying a marginal tax rate of seven percent, general fund individual income tax revenue would be reduced by an estimated $3.0 million in FY2001-02.
Approved By:
William C. Gillespie
Board of Economic Advisors
1/ This statement meets the requirement of Section 2-7-71 for a state revenue impact, Section 2-7-76 for a local revenue impact, and Section 6-1-85(B) for an estimate of the shift in local property tax incidence.
TO AMEND SECTION 12-6-1140, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE STATE INCOME TAX, SO AS TO INCREASE FROM FIVE DOLLARS A DAY TO TEN DOLLARS A DAY THE SUBSISTENCE ALLOWANCE DEDUCTION ALLOWED FEDERAL, STATE, AND LOCAL LAW ENFORCEMENT OFFICERS AND FULL-TIME FIREFIGHTERS AND EMERGENCY MEDICAL SERVICE PERSONNEL.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140(6) of the 1976 Code is amended to read:
"(6) a subsistence allowance of five ten dollars a day for federal, state, and local law enforcement officers paid by a political subdivision of this State, the government of this State, or the federal government, for each regular work day in a taxable year, and full-time firefighters and emergency medical service personnel may deduct as a subsistence allowance five ten dollars a day for each regular work day in a taxable year;"
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 2000.
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