The South Carolina Senate is studying a bill that would offer state income tax deductions for military retirees.
According to the State newspaper the plan would offer military retirees with at least 20 years of service a deduction of $17,500 a year for those under 65 or $30,000 a year for 65 or older. Retirees under 65 must get job in the state with an annual salary of at least $17,500.
The bill unanimously passed the House in 2015 and was carried over to the Senate this year. It has passed the Senate Finance Committee twice, but floor debate has since been held up by State Sen. Gerald Malloy, D-Darlington.
Malloy has an objection to the legislation, which means his presence is necessary before it can be debated and voted upon by the entire Senate. Effectively, the hold means the bill cannot pass without a supermajority of legislators voting to give it priority status (known as “special order”). Despite repeated interview requests by The State newspaper and other media, Malloy has not said why he opposes the bill.
The legislative session ends June 2. If the bill does not get a vote by the full Senate by then, it will have to be reintroduced next year.