South Carolina General Assembly
116th Session, 2005-2006

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Indicates New Matter

S. 1140

STATUS INFORMATION

Joint Resolution
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
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   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

2/14/2006

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

A JOINT RESOLUTION

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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