South Carolina General Assembly
123rd Session, 2019-2020

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Indicates Matter Stricken
Indicates New Matter

S. 461

STATUS INFORMATION

General Bill
Sponsors: Senators Sheheen and Gambrell
Document Path: l:\council\bills\nbd\11213dg19.docx

Introduced in the Senate on January 29, 2019
Currently residing in the Senate Committee on Finance

Summary: Income tax deductions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/29/2019  Senate  Introduced and read first time (Senate Journal-page 11)
   1/29/2019  Senate  Referred to Committee on Finance (Senate Journal-page 11)

View the latest legislative information at the website

VERSIONS OF THIS BILL

1/29/2019

(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 THE INDIVIDUAL INCOME TAX, SO AS TO INCREASE THE DEDUCTION FOR CERTAIN FIREFIGHTERS, LAW ENFORCEMENT OFFICIALS, AND MEMBERS OF THE STATE GUARD FROM THREE THOUSAND DOLLARS TO SIX THOUSAND DOLLARS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 12-6-1140(10)(b) of the 1976 Code is amended to read:

"(b)    An individual may receive only one deduction pursuant to this item. The Revenue and Fiscal Affairs Office 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 six thousand dollars."

SECTION    2.    This act takes effect upon approval by the Governor and first applies to tax years beginning after 2018.

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This web page was last updated on February 1, 2019 at 4:22 PM