South Carolina General Assembly
125th Session, 2023-2024
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Indicates Matter Stricken
Indicates New Matter
S. 966
STATUS INFORMATION
General Bill
Sponsors: Senator Grooms
Document Path: LC-0462SA24.docx
Introduced in the Senate on January 17, 2024
Finance
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 1/17/2024 | Senate | Introduced and read first time (Senate Journal-page 3) |
| 1/17/2024 | Senate | Referred to Committee on Finance (Senate Journal-page 3) |
View the latest legislative information at the website
VERSIONS OF THIS BILL
A bill
TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1171, RELATING TO THE MILITARY RETIREMENT INCOME DEDUCTION, SO AS TO INCLUDE A QUALIFIED RETIREMENT PLAN FROM THE UNIFORMED SERVICES IN THE DEFINITION OF "RETIREMENT INCOME".
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1171(B) of the S.C. Code is amended to read:
(B) The term "retirement income", as used in this section, means the total of all otherwise taxable income not subject to a penalty for premature distribution received by the taxpayer or the taxpayer's surviving spouse in a taxable year from a qualified military retirement plan or a qualified retirement plan from the Uniformed Services. For purposes of a surviving spouse, "retirement income" also includes a retirement benefit plan and dependent indemnity compensation related to the deceased spouse's military service.
SECTION 2. This act takes effect upon approval by the Governor.
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This web page was last updated on January 17, 2024 at 1:28 PM