South Carolina General Assembly
121st Session, 2015-2016

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H. 3122

STATUS INFORMATION

General Bill
Sponsors: Reps. Putnam, G.R. Smith and Southard
Document Path: l:\council\bills\nl\13443dg15.docx

Introduced in the House on January 13, 2015
Currently residing in the House Committee on Ways and Means

Summary: Annual General Appropriations Fund

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/11/2014  House   Prefiled
  12/11/2014  House   Referred to Committee on Ways and Means
   1/13/2015  House   Introduced and read first time (House Journal-page 104)
   1/13/2015  House   Referred to Committee on Ways and Means 
                        (House Journal-page 104)

View the latest legislative information at the website

VERSIONS OF THIS BILL

12/11/2014

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

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 11-11-145 SO AS TO PROVIDE THAT BEGINNING WITH THE FISCAL YEAR 2016-2017 ANNUAL GENERAL APPROPRIATIONS BILL, THE GENERAL ASSEMBLY MAY NOT APPROPRIATE FUNDS IN EXCESS OF THE FEBRUARY FIFTEENTH FINAL FORECAST OF STATE REVENUES EXCEPT TO ACCELERATE PAYMENT ON DEBT FROM BONDED INDEBTEDNESS AND TO PROVIDE AN INDIVIDUAL INCOME TAX REFUND.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Article 1, Chapter 11, Title 11 of the 1976 Code is amended by adding:

"Section 11-11-145.    (A)    Beginning with the Fiscal Year 2016-2017 annual general appropriations bill, except as provided in subsection (B), the General Assembly may not appropriate funds in excess of the February fifteenth final forecast of state revenues by the Board of Economic Advisors, pursuant to Section 11-9-880.

(B)    If the February fifteenth final forecast of state revenues is adjusted to project additional revenue, the additional revenue only may be appropriated to:

(1)    accelerate payment on debt from bonded indebtedness; and

(2)    provide an individual income tax refund based on an individual's proportionate income tax liability. The General Assembly, in the annual general appropriations act, shall specify the manner in which the individual income tax refund is calculated and administered."

SECTION    2.    This act takes effect upon approval by the Governor.

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This web page was last updated on January 14, 2015 at 4:39 PM