Bill > H4812

This bill amends South Carolina state tax law to expand the definition of "retirement income" for tax deduction purposes to include retirement income from the Commissioned Corps of the United States Public Health Service and the Commissioned Corps of the National Oceanic and Atmospheric Administration, in addition to existing military retirement plans. Specifically, the legislation allows members of these two specific federal service corps to claim the same retirement income tax deductions currently available to military retirees. The bill will take effect upon the Governor's approval and will apply to tax years beginning after 2025, meaning eligible members of these corps can start claiming the tax deduction on their 2026 tax returns. This change provides tax relief to federal service members from these specialized corps, treating their retirement income similarly to traditional military retirement income for state tax purposes.

Budget and Finance

https://www.scstatehouse.gov/billsearch.php?billnumbers=4812&session=126&summary=B