Download This Version in Microsoft Word format
TO DIRECT THE STATE TREASURER IN FISCAL YEAR 2008-2009 TO TRANSFER FROM THE HOMESTEAD EXEMPTION FUND TO THE EDUCATION FINANCE ACT RESERVE FUND SUFFICIENT MONIES, AS DETERMINED BY THE DEPARTMENT OF EDUCATION AFTER CONSULTATION WITH THE DEPARTMENT OF REVENUE, TO PROVIDE EACH SCHOOL DISTRICT OF THIS STATE WITH STATE FUNDING UNDER THE EDUCATION FINANCE ACT FOR FISCAL YEAR 2008-2009, AT LEAST EQUAL TO WHAT THE SCHOOL DISTRICT RECEIVED IN STATE FUNDING UNDER THE EDUCATION FINANCE ACT FOR FISCAL YEAR 2007-2008.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Notwithstanding another provision of law, the State Treasurer in fiscal year 2008-2009 is directed to transfer from the Homestead Exemption Fund to the Education Finance Act Reserve Fund sufficient monies, as determined by the Department of Education after consultation with the Department of Revenue, to provide each school district of this State with state funding under the Education Finance Act for fiscal year 2008-2009, at least equal to what the school district received in state funding under the Education Finance Act for fiscal year 2007-2008.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
This web page was last updated on Monday, June 22, 2009 at 3:00 P.M.