South Carolina Senate Bill 2 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 11-2)
Status: Engrossed on March 30 2010 - 50% progression, died in chamber
Action: 2010-05-27 - Roll call Yeas-75 Nays-31 HJ-48

A BILL TO AMEND SECTION 11-11-410, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO IMPLEMENTATION OF THE LIMIT ON STATE SPENDING IMPOSED PURSUANT TO SECTION 7(C), ARTICLE X OF THE CONSTITUTION OF SOUTH CAROLINA, 1895, SO AS TO REVISE THIS LIMIT BY IMPOSING AN ANNUAL LIMIT ON THE APPROPRIATION OF STATE GENERAL FUND REVENUES BY ADJUSTING SUCH REVENUES BY A ROLLING TEN-YEAR AVERAGE IN ANNUAL CHANGES IN GENERAL FUND REVENUES AND THE CREATION OF A SEPARATE BUDGET STABILIZATION FUND IN THE STATE TREASURY TO WHICH MUST BE CREDITED ALL GENERAL FUND REVENUES IN EXCESS OF THE ANNUAL LIMIT, THE REVENUES OF WHICH MUCH FIRST BE USED TO STABILIZE GENERAL FUND REVENUES AVAILABLE FOR APPROPRIATION, TO DEFINE EMERGENCIES AND TO PROVIDE FOR SUSPENSION OF THIS APPROPRIATIONS LIMIT IN EMERGENCIES, TO PROVIDE THAT A CASH BALANCE IN THE BUDGET STABILIZATION FUND IN EXCESS OF FIFTEEN PERCENT OF GENERAL FUND REVENUES OF THE MOST RECENT COMPLETED FISCAL YEAR MAY BE APPROPRIATED IN SEPARATE LEGISLATION FOR VARIOUS NONRECURRING PURPOSES, AND TO DEFINE SURPLUS GENERAL FUND REVENUES.

Revise This Limit By Imposing An Annual Limit On The Appropriation Of State General Fund Revenues By Adjusting Such Revenues By A Rolling Ten-year Average In Annual Changes In General Fund Revenues And The Creation Of A Separate Budget Stabilization Fund In The State Treasury To Which Must Be Credited All General Fund Revenues In Excess Of The Annual Limit, The Revenues Of Which Much First Be Used To Stabilize General Fund Revenues Available For Appropriation, To Define Emergencies And To Provide For Suspension Of This Appropriations Limit In Emergencies, To Provide That A Cash Balance In The Budget Stabilization Fund In Excess Of Fifteen Percent Of General Fund Revenues Of The Most Recent Completed Fiscal Year May Be Appropriated In Separate Legislation For Various Nonrecurring Purposes, And To Define Surplus General Fund Revenues.

Sen. Lee Bright [R]	Sen. John Courson [R]	Sen. Thomas Davis [R]	Sen. Dick Elliott [D]
Sen. Robert Hayes [R]	Sen. Hugh Leatherman [R]	Sen. Larry Martin [R]	Sen. Shane Massey [R]
Sen. Glenn McConnell [R]	Sen. Harvey Peeler [R]	Sen. Luke Rankin [R]	Sen. Michael Rose [R]
Sen. Vincent Sheheen [D]

Date	Chamber	Action
2010-05-27		Roll call Yeas-75 Nays-31 HJ-48
2010-05-27		Read third time and returned to Senate with amendments HJ-48
2010-05-26		Roll call Yeas-73 Nays-24 HJ-87
2010-05-26		Read second time HJ-87
2010-05-26		Amended HJ-87
2010-05-26		Requests for debate-Rep(s). Vick, Sellers, Hart, Gunn, Govan, Williams, and Jefferson HJ-28
2010-05-26		Debate adjourned
2010-05-26		Debate adjourned
2010-05-25		Debate adjourned until Wednesday, May 26, 2010 HJ-40
2010-05-19		Recalled from Committee on Ways and Means HJ-46
2010-04-13		Referred to Committee on Ways and Means HJ-22
2010-04-13		Introduced and read first time HJ-22
2010-03-30		Read third time and sent to House SJ-27
2010-03-25		Read second time SJ-278
2010-03-24		Amended SJ-43
2010-03-24		Committee Amendment Adopted SJ-43
2010-03-24		Committee report: Favorable with amendment Finance SJ-7
2010-03-10		Recommitted to Committee on Finance SJ-35
2010-03-10		Special order, set for March 10, 2010 SJ-34
2010-03-09		Recalled from Committee on Finance SJ-37
2009-01-13		Referred to Committee on Finance SJ-72
2009-01-13		Introduced and read first time SJ-72
2008-12-10		Referred to Committee on Finance
2008-12-10		Prefiled

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

Type	Source
Summary	https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=2&session=118