South Carolina General Assembly
116th Session, 2005-2006

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S. 1081

STATUS INFORMATION

Joint Resolution
Sponsors: Senators Jackson, McGill, Leventis, Matthews, Moore, Sheheen, Malloy, Patterson, Ford, Setzler, Drummond, Reese, Lourie, Short, Pinckney and Hutto
Document Path: l:\council\bills\ggs\22338sj06.doc

Introduced in the Senate on January 25, 2006
Currently residing in the Senate Committee on Finance

Summary: Surplus general fund revenue

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   1/25/2006  Senate  Introduced and read first time SJ-3
   1/25/2006  Senate  Referred to Committee on Finance SJ-3

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/25/2006

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

A JOINT RESOLUTION

TO PROVIDE THAT ONE-HALF OF THE SURPLUS GENERAL FUND REVENUE FROM FISCAL YEAR 2006-07 UNTIL FISCAL YEAR 2015-16 MUST BE SET ASIDE BY THE STATE TREASURER IN A SEPARATE ACCOUNT DESIGNATED FOR PUBLIC SCHOOL INFRASTRUCTURE PURPOSES AND PROVIDE THAT THE DEPARTMENT OF EDUCATION SHALL ALLOCATE THE FUNDS TO SCHOOL DISTRICTS.

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

SECTION    1.    (A)    One-half of the surplus general fund revenue from fiscal year 2006-07 until fiscal year 2015-16 must be set aside by the State Treasurer in a separate account designated for public school infrastructure purposes. Earnings on this fund must be credited to it and unexpended fund revenues remain in the fund and are carried forward to succeeding fiscal years.

(B)    The Department of Education shall allocate the funds to school districts based on a school district's level of need pursuant to criteria established by the State Board of Education.

(C)    The State Board of Education shall promulgate regulations to establish criteria to determine a school district's level of need.

SECTION    2.    This joint resolution takes effect upon approval by the Governor.

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