South Carolina General Assembly
118th Session, 2009-2010

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Indicates New Matter

H. 3208

STATUS INFORMATION

General Bill
Sponsors: Reps. Clemmons and Littlejohn
Document Path: l:\council\bills\bbm\9047htc09.docx
Companion/Similar bill(s): 4230

Introduced in the House on January 13, 2009
Currently residing in the House Committee on Ways and Means

Summary: Income tax deductions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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  12/16/2008  House   Prefiled
  12/16/2008  House   Referred to Committee on Ways and Means
   1/13/2009  House   Introduced and read first time HJ-94
   1/13/2009  House   Referred to Committee on Ways and Means HJ-94

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/16/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW THE DEDUCTION OF RETIREMENT BENEFITS ATTRIBUTABLE TO SERVICE ON ACTIVE DUTY IN THE ARMED FORCES OF THE UNITED STATES; AND TO AMEND SECTION 12-6-1170, AS AMENDED, RELATING TO THE RETIREMENT INCOME DEDUCTION, SO AS TO CONFORM THIS DEDUCTION TO THE MILITARY RETIREMENT DEDUCTION ALLOWED BY THIS ACT.

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 353 of 2008, is further amended by adding a new item to read:

"(9)    military retirement benefits attributable to service on active duty in the armed forces of the United States;"

SECTION    2.    Section 12-6-1170(A)(2) of the 1976 Code is amended to read:

"(2)    The term 'retirement income', as used in this subsection, means the total of all otherwise taxable income not subject to a penalty for premature distribution received by the taxpayer or the taxpayer's surviving spouse in a taxable year from qualified retirement plans which include those plans defined in Internal Revenue Code Sections 401, 403, 408, and 457, and all public employee retirement plans of the federal, state, and local governments, but not including military retirement."

SECTION    3.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2008.

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