Current Status Introducing Body:Senate Bill Number:826 Ratification Number:465 Act Number:400 Primary Sponsor:Pope Type of Legislation:GB Subject:Political subdivisions, may carry forward fund balances Date Bill Passed both Bodies:May 19, 1992 Computer Document Number:CYY/18398.SD Governor's Action:S Date of Governor's Action:Jun 02, 1992 Introduced Date:Mar 28, 1991 Last History Body:------ Last History Date:Jun 02, 1992 Last History Type:Act No. 400 Scope of Legislation:Statewide All Sponsors:Pope Waddell Type of Legislation:General Bill
Bill Body Date Action Description CMN
---- ------ ------------ ------------------------------ ---
826 ------ Jun 02, 1992 Act No. 400
826 ------ Jun 02, 1992 Signed by Governor
826 ------ May 27, 1992 Ratified R 465
826 House May 19, 1992 Read third time, enrolled for
ratification
826 House May 14, 1992 Read second time
826 House May 13, 1992 Debate adjourned until
Thursday, May 14, 1992
826 House May 12, 1992 Debate adjourned until
Wednesday, May 13, 1992
826 House May 07, 1992 Debate ajourned until
Tuesday, May 12, 1992
826 House May 06, 1992 Debate adjourned until
Thursday, May 7, 1992
826 House Apr 23, 1992 Recalled from Committee 30
826 House Jan 14, 1992 Introduced, read first time, 30
referred to Committee
826 Senate Jun 06, 1991 Read third time, sent to House
826 Senate Jun 05, 1991 Read second time, unanimous
consent for third reading on
Thursday, June 6
826 Senate May 30, 1991 Committee Report: Favorable 06
826 Senate Mar 28, 1991 Introduced, read first time, 06
referred to Committee
View additional legislative information at the LPITS web site.
(A400, R465, S826)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-296, SO AS TO PERMIT POLITICAL SUBDIVISIONS OF THIS STATE, INCLUDING SCHOOL DISTRICTS, TO MAINTAIN AND CARRY FORWARD REASONABLE POSITIVE GENERAL FUND BALANCES FROM FISCAL YEAR TO FISCAL YEAR INCLUDING, BUT NOT LIMITED TO, THOSE YEARS IN WHICH PROPERTY WITHIN THE POLITICAL SUBDIVISION OR SCHOOL DISTRICT IS SUBJECT TO REASSESSMENT.
Be it enacted by the General Assembly of the State of South Carolina:
Preparation of budgets and carry forward of positive general fund balances
SECTION 1. The 1976 Code is amended by adding:
"Section 12-43-296. In accordance with Article X, Section 7(b) of the Constitution of this State, political subdivisions, including school districts, of this State shall prepare and maintain annual budgets which provide for sufficient income to meet estimated expenses for each fiscal year. Notwithstanding any other provision of law, political subdivisions, including school districts, of this State may maintain and carry forward reasonable positive general fund balances from fiscal year to fiscal year including, but not limited to, those years in which property within a political subdivision or school district is subject to reassessment."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 2nd day of June, 1992.