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Indicates Matter Stricken
Indicates New Matter
Sponsors: Senators Knotts, Bryant and Mescher
Document Path: l:\s-res\jmk\005surp.kmm.doc
Companion/Similar bill(s): 984
Introduced in the Senate on February 14, 2006
Currently residing in the Senate Committee on Finance
Summary: Surplus general fund revenues (2005-2006)
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/14/2006 Senate Introduced and read first time SJ-2 2/14/2006 Senate Referred to Committee on Finance SJ-2
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO APPROPRIATE FISCAL YEAR 2005-2006 SURPLUS GENERAL FUND REVENUES FOR THE PURPOSE OF ACCELERATING THE RESTORATION OF ALL FUNDS PREVIOUSLY TRANSFERRED AND APPROPRIATED FROM EARMARKED OR RESTRICTED ACCOUNTS IN THE STATEWIDE ACCOUNTING AND REPORTING SYSTEM (STARS), AND TO APPORTION ANY REMAINING BALANCE OF THESE SURPLUS REVENUES AFTER THE STARS RESTORATION AMONG THE SEVERAL COUNTIES FOR EXPENSES ASSOCIATED WITH CONSTRUCTION OR MAINTENANCE OF ROADS, STREETS, CAUSEWAYS, BRIDGES, AND OTHER PUBLIC WAYS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. There is appropriated from fiscal year 2005-2006 surplus general fund revenues the sum of two hundred seventy-five million dollars, plus any additional amount of such revenues which may be recognized by the Board of Economic Advisers, for the purpose of accelerating the full restoration of all funds previously transferred and appropriated from any earmarked or restricted accounts in the Statewide Accounting and Reporting System (STARS). The trust accounts and subfunds, that are the subject of this appropriation, are those identified in Section 7 of Act 156 of 2005. Any remaining balance of fiscal year 2005-2006 surplus general fund revenues, after the full STARS restoration, is apportioned among the several counties to be allocated and expended pursuant to the method provided in Section 12-28-2740. All funds apportioned among the several counties, as provided in this section, must be used only for construction or maintenance of roads, streets, causeways, bridges, or other public ways.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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