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TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME OF AN INDIVIDUAL FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW A DEDUCTION OF REWARD MONEY PAID TO A RESIDENT INDIVIDUAL TAXPAYER FOR INFORMATION PROVIDED BY THE TAXPAYER DIRECTLY LEADING TO THE REMOVAL AS A THREAT OF AN INTERNATIONAL TERRORIST AND TO PROVIDE THAT REWARD MONEY DOES NOT INCLUDE THE REGULAR PAY AND ALLOWANCES OF LAW ENFORCEMENT OFFICERS AND MEMBERS OF THE ARMED FORCES OF THE UNITED STATES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140 of the 1976 Code, as last amended by Act 363 of 2002, is further amended by adding an appropriately numbered item at the end to read:
"( ) reward money paid to a resident individual taxpayer for information provided by the taxpayer to law enforcement or military authorities directly leading to the removal as a threat to the United States of an international terrorist. No deduction is allowed as a reward pursuant to this item for regular pay and allowances of law enforcement officers or members of the armed forces of the United States."
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2002.
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