Bill Text: SC H4550 | 2023-2024 | 125th General Assembly | Introduced
Bill Title: Income tax deduction
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Introduced) 2024-01-09 - Referred to Committee on Ways and Means [H4550 Detail]
Download: South_Carolina-2023-H4550-Introduced.html
South Carolina General Assembly
125th Session, 2023-2024
Bill 4550
Indicates Matter Stricken
Indicates New Matter
(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)
A bill
TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 12-6-1140, RELATING TO INCOME TAX DEDUCTIONS, SO AS TO INCREASE THE INCOME TAX DEDUCTION FOR CERTAIN EMERGENCY PERSONNEL.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140(10)(b) of the S.C. Code is amended to read:
(b) An individual may receive only one deduction pursuant to this item. The Revenue and Fiscal Affairs Office annually shall estimate a maximum deduction that may be permitted under this section for a taxable year based on an individual income tax revenue loss of three million one hundred thousand dollars attributable to this deduction and shall certify that maximum deduction to the Department of Revenue and for the applicable taxable year, the maximum deduction amount must not exceed the lesser of the certified estimate or three six thousand dollars.
SECTION 2. This act takes effect upon approval by the Governor.
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This web page was last updated on November 16, 2023 at 02:22 PM
