South Carolina General Assembly
121st Session, 2015-2016

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Bill 397

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COMMITTEE AMENDMENT ADOPTED

February 19, 2015

S. 397

Introduced by Senators Leatherman, Setzler and O'Dell

S. Printed 2/19/15--S.

Read the first time February 3, 2015.

            

A BILL

TO AMEND SECTION 12-6-40, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICATION OF THE INTERNAL REVENUE CODE TO STATE INCOME TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2014.

Amend Title To Conform

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

SECTION    1.    Section 12-6-40(A)(1)(a) and (c) of the 1976 Code, as last amended by Act 126 of 2014, is further amended to read:

"(a)    Except as otherwise provided, 'Internal Revenue Code' means the Internal Revenue Code of 1986, as amended through December 31, 2013 2014, and includes the effective date provisions contained in it.

(c)    If Internal Revenue Code sections adopted by this State which expired or portions thereof expired on December 31, 2013 2014, are extended, but otherwise not amended, by congressional enactment during 2014 2015, these sections or portions thereof also are extended for South Carolina income tax purposes in the same manner that they are extended for federal income tax purposes."

SECTION    2.    This act takes effect upon approval by the Governor.

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This web page was last updated on February 19, 2015 at 1:33 PM