A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 12-6-3830 SO AS TO PROVIDE FOR AN INCOME TAX CREDIT FOR DISABLED VETERANS.

 

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

 

SECTION 1.  Article 25, Chapter 6, Title 12 of the S.C. Code is amended by adding:

 

    Section 12-6-3830. A veteran who has a disability rating issued by the United States Department of Veteran Affairs is allowed a nonrefundable income tax credit equal to the product of his disability rating percent and his income tax liability. However, the amount of the credit may not exceed five thousand dollars each year. The department may require documentation that it considers necessary to administer the credit.

 

SECTION 2.  This act takes effect upon approval by the Governor and first applies to tax years beginning after 2024.

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