Bill > H3416

This bill amends South Carolina tax law to create a new tax deduction specifically for retirement income earned by first responders and law enforcement officers. The bill defines "first responders" as paramedics, emergency medical technicians, first responder dispatchers, and firefighters, and "law enforcement officers" as those certified by the South Carolina Law Enforcement Training Council who meet specific state requirements. Under this legislation, these professionals can fully deduct their retirement income from state taxes each year, including income from state employee or private pension plans. Additionally, for surviving spouses, the deduction can include retirement benefits and dependent indemnity compensation related to the deceased spouse's state service. The bill also includes a provision that adjusts other existing retirement income tax deductions to account for this new exemption, ensuring that taxpayers cannot "double-dip" by claiming multiple deductions for the same income. The new tax provision will take effect upon the Governor's approval and will first apply to tax years beginning after 2025, providing a future benefit for eligible first responders and law enforcement officers in South Carolina.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=3416&session=126&summary=B