Bill Text: SC S0158 | 2023-2024 | 125th General Assembly | Introduced
Bill Title: State budget system
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2023-01-10 - Referred to Committee on Finance [S0158 Detail]
Download: South_Carolina-2023-S0158-Introduced.html
South Carolina General Assembly
125th Session, 2023-2024
Bill 158
Indicates Matter Stricken
Indicates New Matter
(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)
A bill
to amend the South Carolina Code of Laws by adding Section 11-11-135 so as to PROVIDE THAT THE EXECUTIVE BUDGET OFFICE MUST COMPILE INFORMATION FROM EACH STATE AGENCY AND INSTITUTION DETAILING THE CATEGORIES AND AMOUNTS OF "OTHER FUNDS" BALANCES CARRIED FORWARD FROM THE MOST RECENTLY COMPLETED FISCAL YEAR INTO THE CURRENT FISCAL YEAR AND THOSE USES TO WHICH THESE BALANCES WILL BE APPLIED, TO REQUIRE THE EXECUTIVE BUDGET OFFICE TO REPORT ITS COMPILATION TO THE GENERAL ASSEMBLY NO LATER THAN NOVEMBER FIRST OF EACH YEAR, AND TO DEFINE NECESSARY TERMS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1.Article 1, Chapter 11, Title 11 of the S.C. Code is amended by adding:
Section 1111135. (A) For the purposes of this section, "other funds" include all nongeneral fund revenue appropriated or authorized by the General Assembly in acts or joint resolutions appropriating revenues for the operations of state government.
(B) Annually, following the closing of the State's books for the fiscal year, the Executive Budget Office shall compile information from each state agency and institution detailing the categories and amounts of other funds balances carried forward by those entities into the current fiscal year and the uses to which these funds will be applied in the current fiscal year. The Executive Budget Office shall produce a report detailing these carryforward funds and the uses to which they will be applied, which must be distributed to the General Assembly no later than November first of each year.
SECTION 2.This act takes effect upon approval by the Governor and applies to fund balances carried forward into fiscal years beginning after June 30, 2023.
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This web page was last updated on December 07, 2022 at 02:28 PM
