S 929 Session 105 (1983-1984)
S 0929 Joint Resolution, By R.C. Dennis, W.W. Doar, Drummond, R.H. Ellis,
T.E. Garrison, R.C. Lake, Leatherman, Leventis, J.C. Lindsay, A.S. Macaulay,
McConnell, M.E. McDonald, F.H. McGill, Moore, Peeler, C.G. Poag, Ravenel,
J.R. Richardson, N.C. Russell, Setzler, R.C. Shealy, J.V. Smith, N.W. Smith,
T.B. Smith, D.S. Taylor, N.A. Theodore and J.M. Waddell
A Joint Resolution proposing amendments to Section 7 of Article X of the
Constitution of South Carolina, 1895, relating to the levy of taxes to meet
expenses and deficits of state government, so as to rephrase a part of the
Section to provide that the General Assembly shall provide by law that the
annual state budget must be balanced; and to provide that the General Assembly
shall prescribe by law that annual increases in state appropriations may not
exceed the average growth rate of the economy of the State nor may the annual
increase in the number of state employees exceed the average growth of the
population of the State; proposing an amendment to Section 13 of Article X of
the Constitution of South Carolina, 1895, relating to the bonded indebtedness
of the State, so as to reduce the maximum debt service on all general
obligation bonds of the State from seven to five and one-half percent of the
general revenues of the State for the fiscal year next preceding and to
provide that the General Assembly by legislative enactment relating only to
that matter may increase the percentage rate of the general revenues of the
State that may be applied to annual debt service not to exceed seven percent
of the general revenues; proposing an amendment to Section 36 of Article III
of the Constitution of South Carolina, 1895, relating to the State General
Fund Reserve, so as to reduce such reserve from five to three percent of the
general fund revenue of the latest completed fiscal year and provide for the
withdrawal of funds from the reserve to cover operating deficits of state
government, to require the General Assembly to provide by law for a procedure
to survey the progress of the collection of revenue and the expenditure of
funds and to authorize and direct reduction of appropriations as may be
necessary to prevent a deficit; to require the General Assembly to provide for
an orderly restoration of funds withdrawn from the General Fund Reserve from
future revenues and delete the provisions relating to the repayment of the
Reserve Fund should there be a year-end operating deficit.
03/28/84 Senate Introduced, read first time, placed on calendar
without reference SJ-1211
03/28/84 Senate Debate adjourned
03/29/84 Senate Debate adjourned SJ-1254
04/04/84 Senate Debate adjourned SJ-1288
04/18/84 Senate Committed to Committee on Finance SJ-1449
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