South Carolina General Assembly
120th Session, 2013-2014

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Indicates Matter Stricken
Indicates New Matter

S. 1195

STATUS INFORMATION

General Bill
Sponsors: Senator Malloy
Document Path: l:\council\bills\bh\26135dg14.docx

Introduced in the Senate on April 2, 2014
Introduced in the House on April 8, 2014
Currently residing in the House Darlington Delegation

Summary: Darlington County School District

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
    4/2/2014  Senate  Introduced, read first time, placed on calendar without 
                        reference
    4/3/2014  Senate  Read second time (Senate Journal-page 21)
    4/3/2014  Senate  Unanimous consent for third reading on next legislative 
                        day (Senate Journal-page 21)
    4/4/2014  Senate  Read third time and sent to House (Senate Journal-page 1)
    4/8/2014  House   Introduced and read first time (House Journal-page 8)
    4/8/2014  House   Referred to Darlington Delegation (House Journal-page 8)

View the latest legislative information at the website

VERSIONS OF THIS BILL

4/2/2014
4/2/2014-A

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

INTRODUCED

April 2, 2014

S. 1195

Introduced by Senator Malloy

L. Printed 4/2/14--S.

Read the first time April 2, 2014.

            

A BILL

TO PROVIDE THAT IF, AFTER CLOSING THE BOOKS, THE DARLINGTON COUNTY SCHOOL DISTRICT HAS FUNDS, REGARDLESS OF SOURCE OR PURPOSE, OF MORE THAN TWENTY-FIVE PERCENT OF ITS OPERATING BUDGET OR SEVENTEEN MILLION FIVE HUNDRED THOUSAND DOLLARS, WHICHEVER IS LESS, SUCH EXCESS FUNDS ONLY MAY BE USED TO SERVICE BONDED INDEBTEDNESS UNTIL THE DEBT IS FULLY PAID.

SECTION    1.    (A)    Upon closing the books on a fiscal year, if the Darlington County School District has funds, regardless of source or purpose, of more than twenty-five percent of its operating budget or seventeen million five hundred thousand dollars, whichever is less, such excess funds only may be used to service bonded indebtedness until the debt is fully paid.

(B)    For purposes of this section, "operating budget" means the amounts dedicated for all school operations, except amounts dedicated to the repayment of debt, in the current fiscal year of the school district's budget.

SECTION    2.    This act takes effect upon approval by the Governor and first applies to the closing of Fiscal Year 2013-2014.

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This web page was last updated on April 9, 2014 at 8:37 AM