South Carolina General Assembly
115th Session, 2003-2004

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Bill 258

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

AS PASSED BY THE SENATE

June 5, 2003

S. 258

Introduced by Senators Gregory, Ryberg, Hayes, Courson, Peeler, Branton and Reese

S. Printed 6/11/03--H.

Read the first time January 22, 2003.

            

A BILL

TO AMEND CHAPTER 29, TITLE 59, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 59-29-165 SO AS TO REQUIRE HIGH SCHOOL STUDENTS TO RECEIVE INSTRUCTION IN THE AREA OF PERSONAL FINANCE.

Amend Title To Conform

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Chapter 29, Title 59 of the 1976 Code is amended by adding:

"Section 59-29-165.     All students attending a high school in this State that is sustained or in any manner supported by public funds must receive instruction in the area of personal finance. The State Department of Education will assist the school districts in identifying suitable materials for instruction."

SECTION    2.    The following is authorized for July 1, 2003, through June 30, 2005, from the federal funds received by the State pursuant to the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003: (1) to the Department of Health and Human Services for Medicaid services - $127,437,026; (2) to the State Department of Education for the Education Finance Act - $20,642,486; (3) of any remaining funds received, the first $44,600,000 shall be transferred to the State Department of Education for the Education Finance Act to be used as a one-time supplement. The State Department of Education may not expend any portion of the $44,6000,000 amount until the funds are transferred to the department. It is the intent of the General Assembly that any funds remaining after the above three provisions have been satisfied shall be transferred to the Department of Health and Human Services for the state's Medicaid program. Any unexpended funds provided pursuant to this section must be carried forward to succeeding fiscal years and used for the same purposes.

SECTION    3.    This act takes effect upon approval by the Governor.

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