South Carolina 2025-2026 Regular Session Status: In Committee

S 13 — Tax Deduction for Employer Contributions to 529 Accounts

Last action — Referred to Committee on Education

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced December 11, 2024. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 14% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

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.

Bill Text

What changed in the latest version

40 added · 4 removed

Plain-language change summary

The recent amendment to Bill S 13 allows employers to make tax-deductible contributions to their employees' college investment trust accounts. This change is significant because it encourages more support for education savings by making it financially advantageous for employers to contribute, thus providing employees with a better chance to afford higher education. The amendment aligns with existing tax rules while expanding the options available to both employees and employers.

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2025-2026 Bill 13 Text of Previous Version (Dec.
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11, 2024) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 13Indicates Matter StrickenIndicates New Matter(Text matches printed bills.
Document has been reformatted to meet World Wide Web specifications.)                 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.
  Be it enacted by the General Assembly of the State of South Carolina:
  SECTION 1.  Section 59-2-80(D) of the S.C.
Code is amended to read:
      (D)(1)(a) Contributions to each investment trust account created under this chapter by a resident of this State or a nonresident required to file a State of South Carolina income tax return are deductible from South Carolina income subject to tax up to the limit of maximum contributions allowed to such accounts under Section 529 of the Internal Revenue Code of 1986, as amended, including funds transferred to an investment trust account from another qualified plan, as allowable under Section 529 of the Internal Revenue Code of 1986, as amended, and to the extent that the transferred funds were not permitted a state income tax deduction previously under South Carolina law.
           (b) An employer may match deductible contributions made by an employee to an investment trust account established under this chapter up to one thousand dollars.
Contributions made by an employer pursuant to this subitem are deductible from the employer's South Carolina income subject to tax.
        (2) For purposes of this subsection, the term "qualified plan" means any plan qualified under Section of the Internal Revenue Code of 1986, as amended.
        (3) State income tax deductions as provided for in this section may be taken in any taxable year for contributions and rollovers made during that taxable year, and up to April fifteenth of the succeeding year, or the due date of a taxpayer's state income tax return excluding extensions, whichever is longer.
  SECTION 2.  The provisions contained in this act shall apply to each tax year beginning after 2025.
  SECTION 3.  This act takes effect upon approval by the Governor.
----XX---- This web page was last updated on December 11, 2024 at 04:16 PM
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Action History

  1. Referred to Committee on Education

  2. Introduced and read first time

  3. Referred to Committee on Education

  4. Prefiled

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 169 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (169)

169 members have not signed on to this bill.

Show all 169 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation education
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S 13 do?
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.
Who sponsors S 13?
S 13 is sponsored by Senator Luke A. Rankin.
What is the current status of S 13?
This bill is in committee in the Senate. Introduced December 11, 2024. It must pass committee before a floor vote.
Where can I track S 13?
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