The bill H. 4395 proposes an amendment to Section 12-6-1140 of the South Carolina Code of Laws, specifically addressing income tax deductions. It introduces a new provision that allows for an income tax deduction for income received by student athletes at institutions of higher learning for the use of their name, image, or likeness. This deduction applies to the extent that the income is included in the taxpayer's federal adjusted gross income and is not otherwise exempt from state tax.

The bill is currently under consideration in the House Committee on Ways and Means and is set to take effect upon approval by the Governor, with the first application to income tax years beginning after 2024. This legislative change aims to provide financial relief to student athletes by recognizing their ability to earn income from their personal brand.

Statutes affected:
04/23/2025: 12-6-1140
Latest Version: 12-6-1140