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SC H3943

Bill

Official Source

Status

Introduced

2/11/2025

Primary Sponsor

Brandon Cox

Click for details

Origin

House of Representatives

126th General Assembly

AI Summary

  • Creates a nonrefundable income tax credit for veterans with a disability rating from the U.S. Department of Veterans Affairs
  • Credit amount equals the veteran's disability rating percentage multiplied by their income tax liability (e.g., 50% disability rating = 50% of tax liability as credit)
  • Maximum credit capped at $5,000 per year
  • South Carolina Department of Revenue may require documentation to verify eligibility
  • Effective upon Governor's approval, applying to tax years beginning after 2024

Legislative Description

Disabled Veterans Income Tax Credit

Last Action

Member(s) request name added as sponsor: Davis, Lawson, M.M.Smith, Holman, Williams, Gilliam, Neese, Brewer, Kirby, Rivers, Beach

4/9/2025

Committee Referrals

Ways and Means2/11/2025

Full Bill Text

No bill text available