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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 2-65-140, SO AS TO PROVIDE THAT THE EXECUTIVE BUDGET OFFICE SHALL COMPILE INFORMATION FROM EACH STATE AGENCY AND INSTITUTION DETAILING THE CATEGORIES AND AMOUNTS OF OTHER FUNDS BALANCES CARRIED FORWARD FROM THE MOST RECENTLY COMPLETED FISCAL YEAR INTO THE CURRENT FISCAL YEAR AND THOSE USES TO WHICH THESE BALANCES WILL BE APPLIED; AND TO REQUIRE THE BOARD TO REPORT ITS COMPILATION TO THE GENERAL ASSEMBLY NO LATER THAN NOVEMBER FIRST OF EACH YEAR.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 65, Title 2 of the 1976 Code is amended by adding:
"Section 2-65-140. Annually, following the closing of the State's books for the fiscal year, the board shall compile information from each state agency and institution detailing the categories and amounts of other funds balances carried forward by those entities into the current fiscal year and the uses to which these funds will be applied in the current fiscal year. The board shall produce a report detailing these carry-forward funds and the uses to which they will be applied, which must be distributed to the General Assembly no later than November first of each year."
SECTION 2. This act takes effect upon approval by the Governor and applies to fund balances carried forward into fiscal years beginning after June 30, 2019.
This web page was last updated on December 18, 2018 at 3:32 PM