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RECALLED
January 11, 2006
S. 1026
Introduced by Senators Leatherman, Leventis, Setzler, Rankin, McGill, Short, Martin, Sheheen, Alexander, Anderson, Bryant, Campsen, Cleary, Courson, Cromer, Drummond, Elliott, Fair, Ford, Gregory, Grooms, Hawkins, Hayes, Hutto, Jackson, Knotts, Land, Lourie, Malloy, Matthews, McConnell, Mescher, Moore, O'Dell, Patterson, Peeler, Pinckney, Reese, Richardson, Ritchie, Ryberg, Scott, J. Verne Smith, Thomas, Verdin and Williams
S. Printed 1/11/06--S.
Read the first time January 10, 2006.
TO APPROPRIATE FROM THE GENERAL FUND OF THE STATE TO THE STATE'S GENERAL DEPOSIT ACCOUNT FISCAL YEAR 2004-2005 SURPLUS REVENUES IN THE AMOUNT OF $104,934,400 FOR THE PURPOSE OF PREVENTING AN ACCUMULATED GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) GENERAL FUND DEFICIT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) There is appropriated from fiscal year 2004-2005 state general fund surplus revenues to the State's General Deposit Account an amount equal to $104,934,400.
(B) The appropriation made pursuant to subsection (A) of this section is for the purpose of preventing an accumulated Generally Accepted Accounting Principles (GAAP) deficit in the general fund of the State in the amount of the funds appropriated. The Comptroller General shall adjust the State's accounts as appropriate to reflect this appropriation.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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