Bill Text: SC H5142 | 2011-2012 | 119th General Assembly | Introduced
Bill Title: Income tax deductions
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-04-19 - Referred to Committee on Ways and Means [H5142 Detail]
Download: South_Carolina-2011-H5142-Introduced.html
A BILL
TO AMEND SECTION 12-6-1140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME FOR PURPOSES OF THE STATE INDIVIDUAL INCOME TAX, SO AS TO ALLOW THE DEDUCTION OF RETIREMENT BENEFITS FROM A PUBLIC EMPLOYEE PENSION PLAN EARNED IN A STATE WHICH IMPOSES NO STATE INDIVIDUAL INCOME TAX.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-6-1140 of the 1976 Code, as last amended by Act 353 of 2008, is further amended by adding an appropriately numbered item to read:
"( ) retirement benefits received from a state or local government public employee pension plan of a state which imposed no state individual income tax when the pension was earned and which imposes no state individual income tax in the taxable year for which the deduction is claimed."
SECTION 2. Upon approval by the Governor, this act is effective for taxable years beginning after 2011.
