South Carolina General Assembly
109th Session, 1991-1992

Bill 826


                    Current Status

Introducing Body:               Senate
Bill Number:                    826
Ratification Number:            465
Act Number:                     400
Primary Sponsor:                Pope
Type of Legislation:            GB
Subject:                        Political subdivisions, may carry
                                forward fund balances
Date Bill Passed both Bodies:   May 19, 1992
Computer Document Number:       CYY/18398.SD
Governor's Action:              S
Date of Governor's Action:      Jun 02, 1992
Introduced Date:                Mar 28, 1991
Last History Body:              ------
Last History Date:              Jun 02, 1992
Last History Type:              Act No. 400
Scope of Legislation:           Statewide
All Sponsors:                   Pope
                                Waddell
Type of Legislation:            General Bill

History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 826   ------  Jun 02, 1992  Act No. 400
 826   ------  Jun 02, 1992  Signed by Governor
 826   ------  May 27, 1992  Ratified R 465
 826   House   May 19, 1992  Read third time, enrolled for
                             ratification
 826   House   May 14, 1992  Read second time
 826   House   May 13, 1992  Debate adjourned until
                             Thursday, May 14, 1992
 826   House   May 12, 1992  Debate adjourned until
                             Wednesday, May 13, 1992
 826   House   May 07, 1992  Debate ajourned until
                             Tuesday, May 12, 1992
 826   House   May 06, 1992  Debate adjourned until
                             Thursday, May 7, 1992
 826   House   Apr 23, 1992  Recalled from Committee         30
 826   House   Jan 14, 1992  Introduced, read first time,    30
                             referred to Committee
 826   Senate  Jun 06, 1991  Read third time, sent to House
 826   Senate  Jun 05, 1991  Read second time, unanimous
                             consent for third reading on
                             Thursday, June 6
 826   Senate  May 30, 1991  Committee Report: Favorable     06
 826   Senate  Mar 28, 1991  Introduced, read first time,    06
                             referred to Committee

View additional legislative information at the LPITS web site.


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

(A400, R465, S826)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-296, SO AS TO PERMIT POLITICAL SUBDIVISIONS OF THIS STATE, INCLUDING SCHOOL DISTRICTS, TO MAINTAIN AND CARRY FORWARD REASONABLE POSITIVE GENERAL FUND BALANCES FROM FISCAL YEAR TO FISCAL YEAR INCLUDING, BUT NOT LIMITED TO, THOSE YEARS IN WHICH PROPERTY WITHIN THE POLITICAL SUBDIVISION OR SCHOOL DISTRICT IS SUBJECT TO REASSESSMENT.

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

Preparation of budgets and carry forward of positive general fund balances

SECTION 1. The 1976 Code is amended by adding:

"Section 12-43-296. In accordance with Article X, Section 7(b) of the Constitution of this State, political subdivisions, including school districts, of this State shall prepare and maintain annual budgets which provide for sufficient income to meet estimated expenses for each fiscal year. Notwithstanding any other provision of law, political subdivisions, including school districts, of this State may maintain and carry forward reasonable positive general fund balances from fiscal year to fiscal year including, but not limited to, those years in which property within a political subdivision or school district is subject to reassessment."

Time effective

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

Approved the 2nd day of June, 1992.