South Carolina General Assembly
118th Session, 2009-2010

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S. 344

STATUS INFORMATION

General Bill
Sponsors: Senator Reese
Document Path: l:\council\bills\bbm\9127htc09.docx

Introduced in the Senate on January 29, 2009
Currently residing in the Senate Committee on Finance

Summary: Income tax deductions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/29/2009  Senate  Introduced and read first time SJ-4
   1/29/2009  Senate  Referred to Committee on Finance SJ-4

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/29/2009

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME OF INDIVIDUALS FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX ACT, SO AS TO ALLOW A DEDUCTION OF OTHERWISE TAXABLE MILITARY PAY AND ALLOWANCES OF A RESIDENT OF THIS STATE ON ACTIVE DUTY IN THE ARMED FORCES OF THE UNITED STATES AND TO PHASE IN THIS DEDUCTION OVER FOUR YEARS.

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

SECTION    1.    Section 12-6-1140 of the 1976 Code, last amended by Act 353 of 2008, is further amended by adding an appropriately numbered item at the end to read:

"( )(a)    the percentage provided in subitem (b) of otherwise taxable active duty military pay and allowances received by a resident taxpayer who is a member of the Armed Forces of the United States on active duty. The deduction is prorated for a part-year resident.

(b)    Taxable year                 Deduction allowed

2009                            25 percent

2010                            50 percent

2011                                75 percent

after 2011                    100 percent."

SECTION    2.    This act takes effect upon approval by the Governor and applies for taxable years beginning after 2008.

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This web page was last updated on Monday, October 10, 2011 at 12:14 P.M.