The bill H. 4395 proposes an amendment to Section 12-6-1140 of the South Carolina Code of Laws to introduce a new income tax deduction specifically for student athletes. This deduction allows for income received by student athletes from the use of their name, image, or likeness to be deducted from their taxable income, provided that this 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, applying to income tax years that begin after 2024. This legislative change aims to provide financial relief to student athletes who earn income through endorsements and other related activities.

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