SCACPA advocacy expanded in many avenues in 2019. As South Carolina’s 2019 legislative session nears its May 9 adjournment date, the SCACPA Advocacy Team can point to work to how it aligned its efforts toward a variety of achievements and that it continues to work on a variety of efforts.
We are actively monitoring statue changes impacting the profession that have recently been turned to the full Senate for debate. A Senate Labor, Commerce and Industry Subcommittee approved H. 3785 (Reps. Sandifer, Howard, Thayer, West and Weeks) relating to the Board of Accountancy on Wednesday, April 24. The full committee adopted the bill the next day. The bill amends some key operating procedures for the South Carolina Board of Accountancy. Of particular note is revised criteria for reciprocity. It expands application eligibility to those who hold a valid out-of-state CPA license issued before Jan. 1, 2012, and have engaged in four years of out-of-state professional practice as a CPA within the 10 years immediately preceding the South Carolina application. The bill now goes to the full Senate for consideration.
Also among the amendments to the Board of Accountancy bill is that disciplinary hearings by the Board must be open to the public, except in certain circumstances.
SCACPA CEO Chris Jenkins spoke to legislators twice in support of the bill and to answer any questions they might have about its amendments and impacts.
“In an ever-evolving profession, we must ensure that the rules governing the profession anticipate change. This is a long-overdue update, and we will continue to monitor and adjust our recommendations as needed,” Jenkins said. For a more thorough analysis of H.3785 and its journey from the House to the Senate, continue reading here.
- SCACPA kept members updated on the swift progress of this year’s annual state tax Conformity legislation, which Gov. Henry McMaster signed into law on March 28. The SCACPA Advocacy Team sends a special thanks to legislative leadership that worked with South Carolina CPAs to get the Conformity bill through much faster than in previous years.
- SCACPA keeps members informed on the meetings and actions of the South Carolina House Tax Policy Review Committee, which has drafted a bill that would lower the state sales tax to 3% and add a tax on services in preparation for debate in 2020. Read more about it here.
- We track bills as they make progress through the House and Senate during the legislative session. An example is a state income tax reduction bill that aimed to provide a single, flat income rate of 4.85% that failed to meet the legislative crossover deadline.
Legislative rules require that in order for bills to be considered by the opposite chamber this session, all bills must receive third and final reading by Wednesday, April 10. Bills that do not meet this deadline can still be debated but must reach a much higher threshold for debate by receiving a two-thirds vote of the body.
We are also tracking two separate audit rotation bills.
- SCACPA stays on top of the debate on SALT and IRS regulations that can affect taxpayers who expect to receive a state income tax credit for charitable contributions to entities such as the Exceptional Needs Children’s Fund and the Industry Partnership Fund Credit.
- With the help of our Chapters, we created more personal interaction with legislators via social events, and we’ve enhanced our relationship tracking with updated software.
- Ongoing relationships with the SCBOA, DEW and SCDOR help us remove roadblocks for the profession and professionals. When you have questions, comments or concerns, SCACPA can be your voice with regulators. Who better than your association to protect and promote your credential?
The SCACPA Advocacy Team is on your side every single day. SCACPA is the only organization working for the interests of the CPA profession in South Carolina.