South Carolina Legislature




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Session 124 - (2021-2022)Printer Friendly
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H*3346 (Rat #0265) General Bill, By W. Cox, White, Fry, Haddon, Long, Forrest, G.M. Smith, Caskey, Gagnon, Hyde, West, Thayer, Ligon, Daning, Erickson, Bradley, Weeks, B. Newton, McGarry, Carter, Calhoon and Hixon
Similar (S 1106, H 3347)
Summary: General Reserve Fund and Capital Reserve Fund
    AN ACT TO AMEND SECTION 11-11-310, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE STATUTORY GENERAL RESERVE FUND, SO AS TO PROVIDE THAT THE GENERAL RESERVE FUND OF FIVE PERCENT OF GENERAL FUND REVENUE OF THE LATEST COMPLETED FISCAL YEAR MUST BE INCREASED EACH YEAR BY ONE-HALF OF ONE PERCENT OF GENERAL FUND REVENUE OF THE LATEST COMPLETED FISCAL YEAR UNTIL IT EQUALS SEVEN PERCENT OF SUCH REVENUES; TO AMEND SECTION 11-11-320, RELATING TO THE STATUTORY CAPITAL RESERVE FUND OF TWO PERCENT OF GENERAL FUND REVENUE OF THE LATEST COMPLETED FISCAL YEAR, SO AS TO INCREASE IT TO THREE PERCENT OF GENERAL FUND REVENUE OF THE LATEST COMPLETED FISCAL YEAR AND TO PROVIDE THAT THE FIRST USE OF THE CAPITAL RESERVE FUND MUST BE TO OFFSET MIDYEAR BUDGET REDUCTIONS; BY ADDING SECTION 11-11-325 SO AS TO REQUIRE THE CAPITAL RESERVE FUND BE REDUCED BEFORE MIDYEAR BUDGET REDUCTIONS ARE MADE; TO AMEND SECTION 11-9-1140, RELATING TO THE REDUCTION OF GENERAL FUND APPROPRIATIONS, SO AS TO MAKE A CONFORMING CHANGE; AND TO PROVIDE THAT THE ABOVE PROVISIONS TAKE EFFECT UPON RATIFICATION OF AMENDMENTS TO SECTION 36, ARTICLE III OF THE CONSTITUTION OF THIS STATE PROVIDING FOR THE ABOVE. - ratified title
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12/09/20House Prefiled
12/09/20House Referred to Committee on Ways and Means
01/12/21House Introduced and read first time (House Journal-page 166)
01/12/21House Referred to Committee on Ways and Means (House Journal-page 166)
01/13/21House Member(s) request name added as sponsor: G.M.Smith, Caskey
03/22/21House Member(s) request name added as sponsor: Gagnon, Hyde, West, Thayer, Ligon
02/09/22House Member(s) request name added as sponsor: Daning, Erickson, Bradley
02/10/22House Committee report: Favorable Ways and Means (House Journal-page 2)
02/15/22House Member(s) request name added as sponsor: Weeks, B.Newton, McGarry
02/16/22House Member(s) request name added as sponsor: Carter, Calhoon, Hixon
02/16/22House Read second time (House Journal-page 40)
02/16/22House Roll call Yeas-108 Nays-0 (House Journal-page 41)
02/17/22House Read third time and sent to Senate (House Journal-page 38)
02/17/22Senate Introduced and read first time (Senate Journal-page 7)
02/17/22Senate Referred to Committee on Finance (Senate Journal-page 7)
03/09/22Senate Committee report: Favorable with amendment Finance (Senate Journal-page 12)
03/10/22 Scrivener's error corrected
03/15/22Senate Committee Amendment Adopted (Senate Journal-page 35)
03/17/22Senate Amended (Senate Journal-page 20)
03/17/22Senate Read second time (Senate Journal-page 20)
03/17/22Senate Roll call Ayes-43 Nays-0 (Senate Journal-page 20)
03/21/22 Scrivener's error corrected
03/22/22Senate Read third time and returned to House with amendments (Senate Journal-page 6)
03/30/22House Debate adjourned (House Journal-page 22)
03/31/22House Debate adjourned until Tues., May 3 (House Journal-page 17)
05/04/22House Debate adjourned (House Journal-page 131)
05/05/22House Debate adjourned (House Journal-page 100)
05/10/22House Senate amendment amended (House Journal-page 598)
05/10/22House Roll call Yeas-xxx Nays-xxx (House Journal-page 600)
05/10/22House Returned to Senate with amendments (House Journal-page 601)
05/11/22Senate Non-concurrence in House amendment (Senate Journal-page 184)
05/11/22Senate Returned to House with amendments (Senate Journal-page 184)
05/11/22Senate Non-concurrence in House amendment
05/11/22House House insists upon amendment and conference committee appointed Reps. GM Smith, Simrill, Rutherford (House Journal-page 298)
05/12/22Senate Conference committee appointed Peeler, Setzler, Alexander (Senate Journal-page 36)
06/15/22House Conference report received and adopted (House Journal-page 53)
06/15/22House Roll call Yeas-114 Nays-0 (House Journal-page 58)
06/15/22Senate Conference report received and adopted (Senate Journal-page 43)
06/15/22Senate Roll call Ayes-38 Nays-2 (Senate Journal-page 43)
06/15/22Senate Ordered enrolled for ratification (Senate Journal-page 50)
06/16/22 Ratified R 265
06/22/22 Signed By Governor



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