South Carolina General Assembly
125th Session, 2023-2024

Download This Bill in Microsoft Word format

A175, R215, H4594

STATUS INFORMATION

General Bill
Sponsors: Reps. Ballentine, Pope, Clyburn, West, Elliott and T. Moore
Companion/Similar bill(s): 4017, 4595
Document Path: LC-0282DG24.docx

Introduced in the House on January 9, 2024
Introduced in the Senate on March 27, 2024
Currently residing in the House
Governor's Action: May 20, 2024, Signed

Summary: Internal Revenue Code conformity

HISTORY OF LEGISLATIVE ACTIONS

Date Body Action Description with journal page number
11/16/2023 House Prefiled
11/16/2023 House Referred to Committee on Ways and Means
1/9/2024 House Introduced and read first time (House Journal-page 93)
1/9/2024 House Referred to Committee on Ways and Means (House Journal-page 93)
1/9/2024 House Member(s) request name added as sponsor: West
2/8/2024 House Member(s) request name added as sponsor: Elliott, T. Moore
3/21/2024 House Committee report: Favorable Ways and Means (House Journal-page 4)
3/26/2024 House Read second time (House Journal-page 51)
3/26/2024 House Roll call Yeas-115 Nays-0 (House Journal-page 51)
3/27/2024 House Read third time and sent to Senate (House Journal-page 17)
3/27/2024 Senate Introduced and read first time (Senate Journal-page 6)
3/27/2024 Senate Referred to Committee on Finance (Senate Journal-page 6)
4/18/2024 Senate Committee report: Favorable Finance (Senate Journal-page 8)
5/1/2024 Senate Read second time (Senate Journal-page 24)
5/1/2024 Senate Roll call Ayes-46 Nays-0 (Senate Journal-page 24)
5/7/2024 Senate Read third time and enrolled (Senate Journal-page 36)
5/15/2024 Ratified R 215
5/20/2024 Signed By Governor
5/29/2024 Effective date 05/20/24
5/29/2024 Act No. 175

View the latest legislative information at the website

VERSIONS OF THIS BILL

11/16/2023
03/21/2024
04/18/2024


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A175, R215, H4594)

AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-40, RELATING TO APPLICATION OF FEDERAL INTERNAL REVENUE CODE TO STATE TAX LAWS, SO AS TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE TO THE YEAR 2023 AND TO PROVIDE THAT IF THE INTERNAL REVENUE CODE SECTIONS ADOPTED BY THIS STATE ARE EXTENDED, THEN THESE SECTIONS ALSO ARE EXTENDED FOR SOUTH CAROLINA INCOME TAX PURPOSES.

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

Internal Revenue Code conformity

SECTION 1.    Section 12-6-40(A)(1)(a) and (c) of the S.C. Code is amended to read:

(a) Except as otherwise provided, "Internal Revenue Code" means the Internal Revenue Code of 1986, as amended through December 31, 2023, 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, 2023, are extended, but otherwise not amended, by congressional enactment during 2024, 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.

Time effective

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

Ratified the 15th day of May, 2024.

Approved the 20th day of May, 2024.

__________


This web page was last updated on June 25, 2024 at 1:29 PM