South Carolina Senate Bill 120 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 12 2021 - 25% progression, died in committee
Action: 2021-01-12 - Referred to Committee on Finance
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [HTML]

Amend Section 11-11-410, Code Of Laws Of South Carolina, 1976, Relating To Appropriations Subject To A Spending Limitation, So As To Impose An Annual Limit On The State General Fund Revenues Available For Appropriation By Restricting Any Increase To A Percentage That Is Equal To The Average Annual Percentage Change From The Previous Ten Completed State Fiscal Years, To Create A Separate Budget Stabilization Fund In The State Treasury To Which Must Be Credited All General Fund Revenues In Excess Of The Annual Limit, To Provide For Disbursements From The Budget Stabilization Fund, To Provide For The Suspension Of This Appropriation Limit In Emergencies, To Provide For The Disbursement Of Surplus Funds, And To Define Necessary Terms.

Spending limits on appropriations

Sen. George Campsen [R]

Sen. Rex Rice [R]

Date	Chamber	Action
2021-01-12	Senate	Referred to Committee on Finance
2021-01-12	Senate	Introduced and read first time
2020-12-09	Senate	Referred to Committee on Finance
2020-12-09	Senate	Prefiled

Chapter	Article	Section	Citation Type	Statute Text
11	11	410	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=0120&session=124&summary=B
Text	https://www.scstatehouse.gov/sess124_2021-2022/prever/120_20201209.htm