Indicates Matter Stricken

Indicates New Matter

 

Committee Report

March 4, 2026

 

H. 3368

 

Introduced by Reps. Long, Forrest, Yow and C. Mitchell

 

S. Printed 3/4/26--H.

Read the first time January 14, 2025

 

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The committee on House Ways and Means

To whom was referred a Bill (H. 3368) to amend the South Carolina Code of Laws by amending Section 12-6-1120, relating to modifications to gross income for individual income tax purposes, so as to exclude, etc., respectfully

Report:

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, by striking all after the enacting words and inserting:

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, 20242025, 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, 20242025, are extended, but otherwise not amended, by congressional enactment during 20252026, 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.

Renumber sections to conform.

Amend title to conform.

 

B.W. BANNISTER for Committee.

 

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A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1120, RELATING TO MODIFICATIONS TO GROSS INCOME FOR INDIVIDUAL INCOME TAX PURPOSES, SO AS TO EXCLUDE OVERTIME PAY AND CERTAIN BONUS PAY FROM GROSS INCOME.

 

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

 

SECTION 1.  Section 12-6-1120 of the S.C. Code is amended by adding:

 

    (12) South Carolina gross income does not include any overtime pay received by an individual pursuant to the requirements of the Fair Labor Standards Act nor does it include the first two thousand five hundred dollars of bonus pay received by an individual in the tax year.

 

SECTION 2.  This act takes effect upon approval by the Governor and applies to tax years beginning after 2024.

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