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Current Status Bill Number:View additional legislative information at the LPITS web site.3883 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010405 Primary Sponsor:Carnell All Sponsors:Carnell, Cotty, Govan, Simrill, Askins, Bales, Barrett, Battle, G. Brown, R. Brown, Cobb-Hunter, Davenport, Gourdine, Harvin, J. Hines, M. Hines, Hosey, Kirsh, Klauber, Koon, Lee, Littlejohn, Meacham-Richardson, J.H. Neal, J.M. Neal, Ott, Parks, Rhoad, Rivers, Scott, Sheheen, Snow, Stille, Taylor, Weeks and Wilder Drafted Document Number:l:\council\bills\dka\4184mm01.doc Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Surplus revenue appropriations, base revenue estimate; Appropriations Act, State, General; Economic Advisors Board History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20010405 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill
TO AMEND SECTION 11-11-140, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LIMITS ON APPROPRIATIONS OF SURPLUS GENERAL FUND REVENUES AND REVENUES DERIVED FROM ACCOUNTING CHANGES, SO AS TO LIMIT APPROPRIATIONS IN THE ANNUAL GENERAL APPROPRIATIONS ACT TO AN AMOUNT NOT TO EXCEED THE BASE REVENUE ESTIMATE, TO DEFINE BASE REVENUE ESTIMATE, TO PROVIDE FOR AN INCREASE IN THE BASE REVENUE ESTIMATE ON THE WRITTEN CERTIFICATION OF THE BOARD OF ECONOMIC ADVISORS, AND TO PROVIDE WHEN AND FOR WHAT PURPOSES SURPLUS REVENUES MAY BE APPROPRIATED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 11-11-140 of the 1976 Code, as last amended by Section 13A, Part II, Act 155 of 1997, is further amended to read:
"Section 11-11-140. (A)(1) In the Governor's annual budget recommendation to the General Assembly, no recommendation may be made for the appropriation of surplus general fund revenues in excess of amounts officially recognized as such by the Board of Economic Advisors.
(2) In any bill or joint resolution appropriating general fund revenues, no surplus general fund revenue may be appropriated in excess of amounts officially recognized as such by the Board of Economic Advisors.
(B) In making the annual budget recommendation to the General Assembly, the Governor shall not incorporate or realize any revenue derived on the basis of any future change in a method of accounting, as determined by the Budget and Control Board, unless the change in a method of accounting is based on statutory authority specifically granted to the Budget and Control Board or a statutory enactment changing the method of accounting.
(A) General fund appropriations in the annual general appropriations act may not exceed the base revenue estimate as calculated pursuant to subsection (B) or as adjusted pursuant to subsection (C).
(B) For purposes of this section, the base revenue estimate is the lesser of:
(1) (a) the total of recurring general fund revenues collected in the fiscal year completed before the General Assembly first considers the annual general appropriations bill;
(b) increased by a sum equal to seventy-five percent of the amount the general fund revenue estimate of the Board of Economic Advisors for the upcoming fiscal year exceeds the amount in subitem (a) of this item; or
(2) the general fund revenue estimate of the Board of Economic Advisors for the upcoming fiscal year.
(C) The base revenue estimate may be increased or decreased upon a written certification from the Board of Economic Advisors of a change in estimated revenue as a result of:
(1) an amendment to the general appropriations bill which affects the revenue estimate of the Board of Economic Advisors; or
(2) enacted legislation which affects the board's estimate.
(D) Appropriations from surplus may not be made before the first meeting of the General Assembly following the Comptroller General's closing of the books on the fiscal year in which the surplus occurred and the appropriations from surplus may be only for nonrecurring purposes.
(E) In making a recommendation to the General Assembly for the fiscal year 2002-03 budget, and for each year after that, the Budget and Control Board shall not incorporate or realize revenue derived on the basis of a future change in a method of accounting, as determined by the Budget and Control Board, unless the change in a method of accounting is based on statutory authority specifically granted to the Budget and Control Board or a statutory enactment changing the method of accounting."
SECTION 2. This act takes effect upon approval by the Governor and first applies with respect to appropriations for fiscal year 2002-03.
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