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H. 3088
STATUS INFORMATION
General Bill
Sponsors: Rep. Umphlett
Document Path: l:\council\bills\bbm\9850htc11.docx
Introduced in the House on January 11, 2011
Currently residing in the House Committee on Ways and Means
Summary: Income tax deductions
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/7/2010 House Prefiled
12/7/2010 House Referred to Committee on Ways and Means
1/11/2011 House Introduced and read first time (House Journal-page 40)
1/11/2011 House Referred to Committee on Ways and Means
(House Journal-page 40)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 12-6-1130, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO MODIFICATIONS OF TAXABLE INCOME FOR PURPOSES OF THE SOUTH CAROLINA INCOME TAX, SO AS TO ALLOW THE DEDUCTION OF ASSESSMENTS OTHER THAN PROPERTY TAXES IMPOSED ON REAL PROPERTY IN CONNECTION WITH PROVIDING SERVICES OR POTENTIAL SERVICES FOR THE BENEFIT OF THE PROPERTY OWNER, AND TO ALLOW THE DEDUCTION OF THE CHARGE FOR A PERMIT, LICENSE, SURCHARGE, OR OTHER FEE REQUIRED TO BE PAID TO A UNIT OF GOVERNMENT IN CONNECTION WITH IMPROVEMENTS TO REAL PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1130 of the 1976 Code, as last amended by Act 116 of 2007, is further amended by adding an appropriately numbered item at the end to read:
"( )(a) An involuntary assessment imposed on real property by a jurisdiction authorized by law to impose property taxes or on whose behalf such taxes may be imposed which is not otherwise deductible in determining federal taxable income and which is imposed in connection with providing a service or potential service to the property owner, is allowed as a deduction.
(b) The charge for a permit, license, surcharge, or other fee required to be paid to federal or state government or any political subdivision of this State in connection with improvements to real property or the maintenance or repair of improvements to real property, which is not otherwise deductible in determining federal taxable income, is allowed as a deduction."
SECTION 2. This act takes effect upon approval by the Governor and applies for taxable years beginning after 2010.
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