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722Ratification Number: 412Act Number: 362Introducing Body: SenateSubject: Relating to fiscal impact statements on bills and resolutions that require county or municipal expenditures
(A362, R412, S722)
AN ACT TO AMEND ACT 141 OF 1983, RELATING TO FISCAL IMPACT STATEMENTS ON BILLS AND RESOLUTIONS INTRODUCED IN THE GENERAL ASSEMBLY THAT REQUIRE COUNTY OR MUNICIPAL EXPENDITURES, SO AS TO REQUIRE A FISCAL IMPACT STATEMENT IF THE BILL OR RESOLUTION WOULD REQUIRE EXPENDITURES BY A SCHOOL DISTRICT OR SPECIAL PURPOSE DISTRICT.
Be it enacted by the General Assembly of the State of South Carolina:
Statement of fiscal impact required
SECTION 1. Section 1 of Act 141 of 1983 is amended to read:
"Section 1. Whenever a bill or resolution is introduced in the General Assembly requiring the expenditure of funds by a county, municipality, special purpose district, or school district, the principal author shall affix thereto a statement of estimated fiscal impact and cost of the proposed legislation. Prior to reporting the bill out of committee, if the amount is substantially different from the original estimate, the committee chairman shall cause a revised statement of the estimated fiscal impact of the bill to be attached to the bill. As used in this section, 'statement of estimated fiscal impact' means the opinion of the person executing the statement as to the dollar cost to the county, municipality, special purpose district, or school district for the first year and the annual cost thereafter."
SECTION 2. This act shall take effect upon approval by the Governor.