View Amendment Current Amendment: FIN to Bill 4017

The Committee on Finance proposed the following amendment (DG\4017C002.NBD.DG21):

Amend the bill, as and if amended, by striking SECTION 3 and inserting:

/ SECTION3. For tax year 2020, t he amendment in the American Rescue Plan of 2021, P.L. 117-2 (March 11, 2021) relating to the exclusion from taxable income for tax year 2020 of $10,200 of unemployment compensation for a taxpayer with less than $150,000 in federal adjusted gross income is specifically adopted by South Carolina. The Department of Administration's Director of the Executive Budget Office is authorized to allocate sixty-one million three hundred thousand dollars in the appropriate fiscal years from the American Rescue Plan Act of 2021 to the general fund to account for the provisions of this SECTION. /