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S 13 South Carolina Senate · 2025-2026 Regular Session

Tax Deduction for Employer Contributions to 529 Accounts

Summary
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 59-2-80, RELATING TO TAX FEATURES OF THE SOUTH CAROLINA COLLEGE INVESTMENT PROGRAM, SO AS TO ALLOW EMPLOYERS TO MAKE TAX DEDUCTIBLE CONTRIBUTIONS TO EMPLOYEE COLLEGE INVESTMENT TRUST ACCOUNTS.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill amends tax code to allow employer tax deductions for 529 contributions, providing tax relief under tax policy.90% confidence ✓ EducationSupports EducationAllows tax-deductible employer contributions to 529 college savings plans, incentivizing higher education funding and access through tax benefits.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2025 Last action Jan 14, 2025
Floor votes

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Full legislative history

Actions timeline

Total actions
4
Key actions
0
Committee
2
Jan 14, 2025
Committee
Referred to Committee on Education
upper
Jan 14, 2025
Introduced
Introduced and read first time
upper
Dec 11, 2024
Committee
Referred to Committee on Education
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Luke Rankin
Luke Rankin
RRepublican
SC
33