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TO AMEND SECTION 2-1-180, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ADJOURNMENT OF THE GENERAL ASSEMBLY, SO AS TO CHANGE THE DATE FOR THE MANDATORY ADJOURNMENT OF THE GENERAL ASSEMBLY FROM SECOND THURSDAY IN MAY TO THE SECOND THURSDAY IN APRIL, AND TO PROVIDE THAT THE ADJOURNMENT DATE MAY BE EXTENDED IN CERTAIN CIRCUMSTANCES; AND TO AMEND SECTION 11-9-880, RELATING TO THE BOARD OF ECONOMIC ADVISORS' FORECAST OF ECONOMIC CONDITIONS, SO AS TO REVISE THE DATES OF THE FORECASTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2-1-180 of the 1976 Code is amended to read:
"Section 2-1-180. The regular annual session of the General Assembly shall adjourn sine die each year not later than five o'clock p.m. on the second Thursday in May April. The regular annual session of the General Assembly can be extended:
(a) if the House of Representatives fails to give a third reading to the annual general appropriations bill by March thirty-first February twenty-eighth, the date of sine die adjournment is extended by one statewide day for each statewide day after March thirty-first February twenty-eighth that the House of Representatives fails to give the bill third reading; or
(b) if a forecast reduction is submitted by the Board of Economic Advisors pursuant to Section 11-9-880 after April March tenth for the next fiscal year, the adjournment date for the General Assembly may be extended up to two weeks with the agreement of the Speaker of the House and the President Pro Tempore of the Senate; or
(c) if a concurrent resolution is adopted by a two-thirds vote of both the Senate and House of Representatives not later than five o'clock p.m. on the second Thursday in May April. During the time between five o'clock p.m. on the second Thursday in May April and the extended sine die adjournment date, as set forth herein, no legislation or other business may be considered except the general appropriations bill and any matters approved for consideration by a concurrent resolution adopted by two-thirds vote in both houses."
SECTION 2. Section 11-9-880(A) of the 1976 Code is amended to read:
"(A) The Board of Economic Advisors shall make an initial forecast of economic conditions in the State and state revenues for the next fiscal year no later than November tenth of each year. Adjustments to the forecast must be considered on December tenth and February fifteenth. A final forecast for the next fiscal year must be made on April March tenth. However, prior to June thirtieth, the board may reduce forecasts for the next fiscal year as it considers necessary. Before making or adjusting any forecast, the board must consult with outside economic experts with respect to national and South Carolina economic business conditions. All forecasts and adjusted forecasts must contain:
(1) a brief description of the economic model and all assumptions and basic decisions underlying the forecasts;
(2) a projection of state revenues on a quarterly basis;
(3) separate discussions of any industry which employs more than twenty percent of the state's total nonagricultural employment and separate projections for these industries."
SECTION 3. This act takes effect upon the approval by the Governor and first applies for the next annual regular session of the General Assembly.
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