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H. 5142
STATUS INFORMATION
General Bill
Sponsors: Rep. Clyburn
Document Path: l:\council\bills\bbm\10622htc12.docx
Introduced in the House on April 19, 2012
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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4/19/2012 House Introduced and read first time (House Journal-page 10)
4/19/2012 House Referred to Committee on Ways and Means
(House Journal-page 10)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INDIVIDUAL INCOME TAX, SO AS TO ALLOW THE DEDUCTION OF RETIREMENT BENEFITS FROM A PUBLIC EMPLOYEE PENSION PLAN EARNED IN A STATE WHICH IMPOSES NO STATE INDIVIDUAL INCOME TAX.
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 an appropriately numbered item to read:
"( ) retirement benefits received from a state or local government public employee pension plan of a state which imposed no state individual income tax when the pension was earned and which imposes no state individual income tax in the taxable year for which the deduction is claimed."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 2011.
This web page was last updated on Tuesday, December 10, 2013 at 10:32 A.M.