Bill > H4294

This bill amends South Carolina tax law to exempt certain retirement benefits from state gross income taxation. Specifically, the legislation provides that retirement benefits received by police officers, firefighters, and emergency medical technicians (EMTs) from the South Carolina Police Officers Retirement System or through any other retirement system or pension will not be counted as taxable gross income. This means that these public safety workers will not have to pay state income tax on their retirement earnings, potentially providing financial relief and recognition for the critical services these professionals provide to their communities. The bill will take effect immediately upon receiving the Governor's approval, creating an immediate tax benefit for eligible public safety retirees in South Carolina.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4294&session=126&summary=B