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H. 4527
STATUS INFORMATION
General Bill
Sponsors: Reps. Bustos, M.M. Smith, McGarry, Taylor and Davis
Document Path: l:\council\bills\nbd\11244dg22.docx
Companion/Similar bill(s): 217, 3247
Introduced in the House on January 11, 2022
Currently residing in the House Committee on Ways and Means
Summary: Military Retirement Income Deduction
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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11/10/2021 House Prefiled
11/10/2021 House Referred to Committee on Ways and Means
1/11/2022 House Introduced and read first time (House Journal-page 45)
1/11/2022 House Referred to Committee on Ways and Means
(House Journal-page 45)
2/8/2022 House Member(s) request name added as sponsor: Davis
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 12-6-1171 CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MILITARY RETIREMENT INCOME DEDUCTION, SO AS TO REMOVE CERTAIN LIMITS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1171(A) of the 1976 Code is amended by adding an appropriately numbered item at the end to read:
"( )(a) Notwithstanding the maximum deduction of South Carolina earned income set forth in item (1), as limited by the amount of military retirement included in South Carolina taxable income, beginning in tax year 2022, the maximum deduction for such taxpayers is only limited further by the amount of South Carolina earned income.
(b) Notwithstanding the maximum deduction of military retirement income set forth in item (2), beginning in tax year 2022 all military retirement income may be deducted from South Carolina taxable income."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
February 8, 2022 at 4:04 PM