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Bill Number: 687 Ratification Number: 529 Act Number 424 Introducing Body: Senate Subject: To exempt rental allowances for housing for ministers of the gospel
(A424, R529, S687)
AN ACT TO AMEND SECTION 12-7-560, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ITEMS NOT INCLUDED IN GROSS INCOME, SO AS TO EXEMPT RENTAL ALLOWANCES FOR HOUSING FOR MINISTERS OF THE GOSPEL.
Be it enacted by the General Assembly of the State of South Carolina:
Rental allowances exempted
Section 1. Item (5) of Section 12-7-560 of the 1976 Code is amended to read:
"(5) The rental value of a dwelling house and appurtenances thereof or a rental allowance provided to a minister of the gospel as part of his compensation as provided for in Internal Revenue Code Section 107 and applicable regulations."
Section 2. This act shall take effect upon approval by the Governor and shall be effective for tax years beginning after December 31, 1981.