South Carolina General Assembly
126th Session, 2025-2026
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Indicates Matter Stricken
Indicates New Matter
S. 507
STATUS INFORMATION
General Bill
Sponsors: Senators Peeler, Alexander and Turner
Document Path: LC-0207DG25.docx
Introduced in the Senate on March 27, 2025
Introduced in the House on April 30, 2025
Currently residing in the House Committee on Ways and Means
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 3/27/2025 | Senate | Introduced and read first time (Senate Journal-page 4) |
| 3/27/2025 | Senate | Referred to Committee on Finance (Senate Journal-page 4) |
| 4/23/2025 | Senate | Polled out of committee Finance (Senate Journal-page 11) |
| 4/23/2025 | Senate | Committee report: Favorable Finance (Senate Journal-page 11) |
| 4/24/2025 | Senate | Read second time (Senate Journal-page 37) |
| 4/24/2025 | Senate | Roll call Ayes-39 Nays-0 (Senate Journal-page 37) |
| 4/29/2025 | Senate | Read third time and sent to House (Senate Journal-page 25) |
| 4/30/2025 | House | Introduced and read first time |
| 4/30/2025 | House | Referred to Committee on Ways and Means |
View the latest legislative information at the website
VERSIONS OF THIS BILL
Indicates Matter Stricken
Indicates New Matter
Polled Out Of Committee
Majority Favorable
April 23, 2025
S. 507
Introduced by Senators Peeler, Alexander and Turner
S. Printed 4/23/25--S.
Read the first time March 27, 2025
________
The committee on Senate Finance
To whom was referred a Bill (S. 507) to amend the South Carolina Code of Laws by amending Section 12-6-40, relating to application of federal Internal Revenue Code to state tax laws, so as to update, etc., respectfully
Report:
Has polled the Bill out majority favorable.
A bill
TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-40, RELATING TO APPLICATION OF FEDERAL INTERNAL REVENUE CODE TO STATE TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2024 AND TO PROVIDE THAT IF THE INTERNAL REVENUE CODE SECTIONS ADOPTED BY THIS STATE ARE EXTENDED, THEN THESE SECTIONS ALSO ARE EXTENDED FOR SOUTH CAROLINA INCOME TAX PURPOSES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-40(A)(1)(a) and (c) of the S.C. Code is amended to read:
(a) Except as otherwise provided, "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended through December 31, 20232024, and includes the effective date provisions contained in it.
(c) If Internal Revenue Code sections adopted by this State which expired or portions thereof expired on December 31, 20232024, are extended, but otherwise not amended, by congressional enactment during 20242025, these sections or portions thereof also are extended for South Carolina income tax purposes in the same manner that they are extended for federal income tax purposes.
SECTION 2. This act takes effect upon approval by the Governor.
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This web page was last updated on April 23, 2025 at 8:25 PM