Current Status Introducing Body:House Bill Number:3273 Primary Sponsor:Kirsh Committee Number:06 Type of Legislation:GB Subject:Income tax laws, references updated Residing Body:Senate Current Committee:Finance Companion Bill Number:327 Computer Document Number:JIC/5217.HC Introduced Date:Jan 22, 1991 Last History Body:Senate Last History Date:Apr 24, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Kirsh McTeer D. Elliott Type of Legislation:General Bill
Bill Body Date Action Description CMN
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3273 Senate Apr 24, 1991 Introduced, read first time, 06
referred to Committee
3273 House Apr 23, 1991 Read third time, sent to
Senate
3273 House Apr 18, 1991 Read second time
3273 House Apr 10, 1991 Committee Report: Favorable 30
3273 House Jan 22, 1991 Introduced, read first time, 30
referred to Committee
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Indicates Matter Stricken
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COMMITTEE REPORT
April 10, 1991
H. 3273
Introduced by Reps. Kirsh, McTeer and D. Elliott
S. Printed 4/10/91--H.
Read the first time January 22, 1991.
To whom was referred a Bill (H. 3273), to amend Section 12-7-20, as amended, Code of Laws of South Carolina, 1976, relating to definitions for purposes of the state income tax, etc., respectfully
That they have duly and carefully considered the same, and recommend that the same do pass:
MARION P. CARNELL, for Committee.
House Bill 3273 amends Section 12-7-20, relating to definitions for purposes of the state income tax, so as to update the reference date of the state's adoption of various provisions of the Internal Revenue Code of 1986.
This bill would increase state revenue by approximately $3,900,000 in FY 1991-92. In addition, this bill would increase revenue by approximately $433,000 in FY 1992-93, by approximately $147,000 in FY 1993-94, and by approximately $143,207 in FY 1994-95.
Approved By:
S. Hunter Howard, Jr.
S.C. Tax Commission
TO AMEND SECTION 12-7-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE STATE INCOME TAX, SO AS TO UPDATE THE REFERENCE DATE OF THIS STATE'S ADOPTION OF VARIOUS PROVISIONS OF THE INTERNAL REVENUE CODE OF 1986.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-7-20(11) of the 1976 Code, as last amended by Section 3A, Part II, Act 612 of 1990, is further amended to read:
"(11) 'Internal Revenue Code' means the Internal Revenue Code of 1986 as amended through December 31, 1989 1990."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 1990.