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Bill Number: 3388 Ratification Number: 188 Act Number 124 Introducing Body: House Subject: Retirement Division of the State Budget and Control Board
(A124, R188, H3388)
AN ACT TO AUTHORIZE THE RETIREMENT DIVISION OF THE STATE BUDGET AND CONTROL BOARD TO TRANSFER NO MORE THAN EIGHT MILLION DOLLARS FROM THE DENTAL INSURANCE ACCOUNT TO THE HEALTH INSURANCE ACCOUNT AND TO PROHIBIT FUTURE TRANSFERS EXCEPT UPON THE AUTHORIZATION OF THE GENERAL ASSEMBLY OR, IF THE GENERAL ASSEMBLY IS NOT IN SESSION, UPON THE AUTHORIZATION OF THE STATE BUDGET AND CONTROL BOARD.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The Retirement Division of the Budget and Control Board may transfer an amount not to exceed a total of eight million dollars, as it determines necessary, from the dental insurance account to the health insurance account maintained in the State Treasury. Once this transfer is made, no further transfers may be made without the authorization of the General Assembly by act or joint resolution, or when the General Assembly is not in session without the authorization of the Budget and Control Board.
SECTION 2. This act takes effect upon approval by the Governor.