Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
H. 4898
STATUS INFORMATION
General Bill
Sponsors: Reps. Littlejohn, Clark, Harvin, Koon, M.A. Pitts, Sandifer and Snow
Document Path: l:\council\bills\ggs\22496htc04.doc
Introduced in the House on March 4, 2004
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
-------------------------------------------------------------------------------
3/4/2004 House Introduced and read first time HJ-5
3/4/2004 House Referred to Committee on Ways and Means HJ-6
View the latest legislative information at the LPITS web site
VERSIONS OF THIS 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, SO AS TO EXTEND THE DEDUCTION ALLOWED AN ELIGIBLE VOLUNTEER FIREMAN, VOLUNTEER RESERVE SQUAD MEMBER, AND VOLUNTEER MEMBER OF A HAZARDOUS MATERIALS (HAZMAT) RESPONSE TEAM TO A RESERVE POLICE OFFICER, TO DELETE OBSOLETE LANGUAGE, AND TO PROVIDE DEDUCTION ELIGIBILITY REQUIREMENTS FOR A RESERVE POLICE OFFICER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140(10) of the 1976 Code, as last amended by Act 363 of 2002, is further amended to read:
"(10) three thousand dollars a deduction calculated as provided in this item for a volunteer firefighter, rescue squad member, or volunteer member of a Hazardous Materials (HAZMAT) Response Team, or reserve police officer not otherwise eligible for this exemption. For taxable years after 2000, The Board of Economic Advisors annually shall estimate a maximum deduction that may be permitted under this section for a taxable year based on an individual income tax revenue loss of three million one hundred thousand dollars attributable to this deduction and shall certify that maximum deduction to the Department of Revenue and for the applicable taxable year, the maximum deduction amount must not exceed the lesser of the certified estimate or three thousand dollars. Only a volunteer earning a minimum number of points pursuant to Section 23-9-190 is eligible for this deduction. However, in the case of a reserve police officer and in lieu of minimum points determining eligibility, this deduction is allowed only if the reserve police officer's coordinator-supervisor certifies in writing to the officer that the officer met all requirements of Chapter 28, Title 23 applicable to a reserve police officer for the entire taxable year. The certification must be on a form approved by the Department of Revenue that must be filed with the officer's tax return for the exemption to be claimed."
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2003.
This web page was last updated on Monday, December 7, 2009 at 10:40 A.M.