South Carolina General Assembly
116th Session, 2005-2006

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S. 984

STATUS INFORMATION

Joint Resolution
Sponsors: Senators Richardson, Ryberg, Peeler, Ritchie, Bryant, Cleary, Verdin, Cromer, Gregory, Mescher and Thomas
Document Path: l:\council\bills\bbm\9082htc06.doc
Companion/Similar bill(s): 1140

Introduced in the Senate on January 10, 2006
Currently residing in the Senate Committee on Finance

Summary: Surplus general fund revenues

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/13/2005  Senate  Prefiled
  12/13/2005  Senate  Referred to Committee on Finance
   1/10/2006  Senate  Introduced and read first time SJ-26
   1/10/2006  Senate  Referred to Committee on Finance SJ-26

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/13/2005

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

A JOINT RESOLUTION

TO APPROPRIATE FISCAL YEAR 2005-2006 SURPLUS GENERAL FUND REVENUES FOR THE PURPOSE OF ACCELERATING THE RESTORATION OF ALL FUNDS PREVIOUSLY TRANSFERRED AND APPROPRIATED FROM EARMARKED OR RESTRICTED ACCOUNTS IN THE STATEWIDE ACCOUNTING AND REPORTING SYSTEM (STARS) AND TO APPROPRIATE ANY REMAINING BALANCE OF THESE SURPLUS REVENUES AFTER THE STARS RESTORATION TO THE STATE HIGHWAY FUND TO BE USED EXCLUSIVELY FOR MAINTENANCE AND REPAIR OF SECONDARY ROADS.

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

SECTION    1.    There is appropriated from fiscal year 2005-2006 surplus general fund revenues the sum of two hundred seventy-five million dollars, plus any additional amount of such revenues which may be recognized by the Board of Economic Advisers, for the purpose of accelerating the full restoration of all funds previously transferred and appropriated from any earmarked or restricted accounts in the Statewide Accounting and Reporting System (STARS). The trust accounts and subfunds that are the subject of this appropriation are those identified in Section 7 of Act 156 of 2005. Any remaining balance of fiscal year 2005-2006 surplus general fund revenues after the full STARS restoration is appropriated to the State Highway Fund and must be used only for maintenance and repair of secondary roads.

SECTION    2.    This joint resolution takes effect upon approval by the Governor and the appropriations contained in this joint resolution are effective as provided in Section 11-11-335 of the 1976 Code.

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