S 0326 General Bill, By J.M. Waddell, Giese, J.C. Hayes, Leatherman and 
I.E. Lourie
 A Bill to amend Section 12-16-20, as amended, Code of Laws of South Carolina,
 1976, relating to definitions for purposes of the South Carolina Estate Tax
 Act, so as to update the reference date of this State's adoption of various
 provisions of the Internal Revenue Code of 1986.

   12/03/90  Senate Prefiled
   12/03/90  Senate Referred to Committee on Finance
   01/08/91  Senate Introduced and read first time SJ-111
   01/08/91  Senate Referred to Committee on Finance SJ-111
   01/23/91  Senate Committee report: Favorable Finance SJ-15
   01/29/91  Senate Read second time SJ-25
   01/30/91  Senate Read third time and sent to House SJ-8
   01/31/91  House  Introduced and read first time HJ-468
   01/31/91  House  Referred to Committee on Ways and Means HJ-468

COMMITTEE REPORT

January 23, 1991

S. 326

Introduced by SENATORS Waddell, Leatherman, Lourie, Hayes and Giese

S. Printed 1/23/91--S.

Read the first time January 8, 1991.

To whom was referred a Bill (S. 326), to amend Section 12-16-20, as amended, Code of Laws of South Carolina, 1976, relating to definitions for purposes, etc., respectfully

That they have duly and carefully considered the same, and recommend that the same do pass:

JAMES M. WADDELL, JR., for Committee.

Senate Bill 326 amends Section 12-16-20, as amended, relating to definitions for purposes of the South Carolina Estate Tax Act, so as to update the reference date of this state's adoption of various provisions of the Internal Revenue Code of 1986.

This Bill would have no effect on state or local revenue.

Approved By:

S. Hunter Howard, Jr.

S.C. Tax Commission

A BILL

TO AMEND SECTION 12-16-20, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE SOUTH CAROLINA ESTATE TAX ACT, 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 12-16-20(5) of the 1976 Code, as last amended by Section 3B, Part II, Act 612 of 1990, is further amended to read:

"(5) '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 with respect to estates of decedents dying after 1990.