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H. 3339
STATUS INFORMATION
General Bill
Sponsors: Reps. Merrill, Edge and Hinson
Document Path: l:\council\bills\ggs\22690htc03.doc
Introduced in the House on January 16, 2003
Currently residing in the House Committee on Ways and Means
Summary: State income tax deductions
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 1/16/2003 House Introduced and read first time HJ-235 1/16/2003 House Referred to Committee on Ways and Means HJ-235
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-6-1165 SO AS TO PROVIDE A DEDUCTION FROM SOUTH CAROLINA TAXABLE INCOME EQUAL TO THE FEDERAL INCOME TAX PERSONAL EXEMPTION ALLOWED A TAXPAYER WHO CLAIMS AS A DEPENDENT ON THE TAXPAYER'S FEDERAL INCOME TAX RETURN A PERSON WHO HAS ATTAINED THE AGE OF SIXTY-FIVE YEARS AND TO ALLOW THIS DEDUCTION ALSO FOR A TAXPAYER WHO WOULD BE ABLE TO CLAIM AS A DEPENDENT A PERSON WHO HAS ATTAINED THE AGE OF SIXTY-FIVE YEARS BUT FOR THE APPLICABLE INCOME TEST.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 9, Chapter 6, Title 12 of the 1976 Code is amended by adding:
"Section 12-6-1165. A resident individual taxpayer is allowed a deduction for each dependent claimable on the taxpayer's federal income return if that dependent has attained the age of sixty-five years before or during the applicable taxable year. The deduction also is allowed if the person who has attained the age of sixty-five years could be claimed as a dependent by the taxpayer but for the applicable income test. The deduction allowed by this section is an amount equal to the federal income tax personal exemption amount allowed for the applicable taxable year."
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2002.
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