House Amendment 71
H 4000 - Session 123 (2019-2020)
Appropriations Bill, 2019-2020
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Rep. COBB-HUNTER proposes the following Amendment No. 71 to H.4000 as introduced by Ways & Means
(Doc Name H:\LEGWORK\HOUSE\AMEND\H-WM\002\TAXPAYER REBATE TO UNFUNDED LIABILITY.DOCX):

EXPLANATION: Redirects the one-time taxpayer rebate to be applied to the SCRS unfunded liability.

Amend the bill, as and if amended, Part IB, Section 118, STATEWIDE REVENUE, page 528, paragraph 118.15, lines 30-34, by striking the paragraph in its entirety and inserting /(SR: Unfunded Liability) In the event that amounts in excess of the Fiscal Year 2018 -19 unobligated general fund revenue as certified by the Board of Economic Advisors become available due to increased income tax collections resulting from the lottery ticket redemption associated with the October 24, 2018 Mega Millions contest, those funds, combined with additional funds appropriated to the Department of Revenue in this Act for the SC Retirement System unfunded liability, must be applied to the SCRS unfunded liability./

Amend the bill further, as and if amended, Section 118, STATEWIDE REVENUE, page 532, paragraph 118.16, line 9, by striking /Taxpayer Rebate/ and inserting /SCRS Unfunded Liability/
Renumber sections to conform.
Amend totals and titles to conform.