SC H3346 | 2021-2022 | 124th General Assembly

Status

Spectrum: Partisan Bill (Republican 8-0)
Status: Introduced on January 12 2021 - 25% progression
Action: 2021-01-13 - Member(s) request name added as sponsor: G.M.Smith, Caskey
Pending: House Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amend Section 11-11-310, Code Of Laws Of South Carolina, 1976, Relating To The Statutory General Reserve Fund, So As To Provide That The General Reserve Fund Of Five Percent Of General Fund Revenue Of The Latest Completed Fiscal Year Must Be Increased Each Year By One-half Of One Percent Of General Fund Revenue Of The Latest Completed Fiscal Year Until It Equals Seven Percent Of Such Revenues; To Amend Section 11-11-320, Relating To The Statutory Capital Reserve Fund Of Two Percent Of General Fund Revenue Of The Latest Completed Fiscal Year, So As To Increase It To Three Percent Of General Fund Revenue Of The Latest Completed Fiscal Year; And To Provide That The Above Provisions Take Effect Upon Ratification Of Amendments To Section 36, Article Iii Of The Constitution Of This State Providing For The Above.

Tracking Information

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Title

General Reserve Fund and Capital Reserve Fund

Sponsors


History

DateChamberAction
2021-01-13HouseMember(s) request name added as sponsor: G.M.Smith, Caskey
2021-01-12HouseReferred to Committee on Ways and Means
2021-01-12HouseIntroduced and read first time
2020-12-09HouseReferred to Committee on Ways and Means
2020-12-09HousePrefiled

Code Citations

ChapterArticleSectionCitation TypeStatute Text
1111310(n/a)See Bill Text
1111320(n/a)See Bill Text

South Carolina State Sources


Bill Comments

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