S 64 South Carolina Senate · 2017-2018 Regular Session

A BILL TO AMEND SECTION 11-11-410, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE LIMIT ON STATE SPENDING IMPOSED PURSUANT TO SECTION 7(C), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, SO AS TO IMPOSE AN ANNUAL LIMIT ON THE STATE GENERAL FUND REVENUES AVAILABLE FOR APPROPRIATION BY RESTRICTING ANY INCREASE TO A PERCENTAGE THAT IS EQUAL TO THE AVERAGE ANNUAL PERCENTAGE CHANGE FROM THE PREVIOUS TEN COMPLETED STATE FISCAL YEARS, TO CREATE A SEPARATE BUDGET STABILIZATION FUND IN THE STATE TREASURY TO WHICH MUST BE CREDITED ALL GENERAL FUND REVENUES IN EXCESS OF THE ANNUAL LIMIT, TO PROVIDE FOR DISBURSEMENTS FROM THE BUDGET STABILIZATION FUND, TO DEFINE EMERGENCIES AND TO PROVIDE FOR SUSPENSION OF THIS APPROPRIATIONS LIMIT IN EMERGENCIES, AND TO PROVIDE FOR DISBURSEMENTS OF SURPLUS FUNDS.

Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2017
Committee Review
Floor Vote
Governor
Introduced Jan 10, 2017 Last action Jan 10, 2017
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Total actions
4
Key actions
0
Committee
2
Jan 10, 2017
Committee
Referred to Committee on Finance
upper
Jan 10, 2017
Introduced
Introduced and read first time
upper
Dec 13, 2016
Committee
Referred to Committee on Finance
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Chip Campsen
Chip Campsen
RRepublican
SC
43