A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ENACTING THE "SOUTH CAROLINA LOTTERY SCHOLARSHIP INCREASE AND INFLATION ADJUSTMENT ACT" BY ADDING SECTION 59-150-420 SO AS TO INCREASE CERTAIN LOTTERY SCHOLARSHIPS BY TWENTY-FIVE PERCENT AND TO PROVIDE FOR FUTURE INCREASES.

 

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

 

SECTION 1.  This act may be cited as the "South Carolina Lottery Scholarship Increase and Inflation Adjustment Act".

 

SECTION 2.  Chapter 150, Title 59 of the S.C. Code is amended by adding:

 

    Section 59-150-420.  (A) Notwithstanding any other provision of law, the South Carolina Commission on Higher Education shall increase the amounts of the lottery scholarships awarded to students, as provided in this chapter, by twenty-five percent beginning in the 2024-2025 academic year.

    (B) Beginning in 2029 and every five years thereafter, the Commission on Higher Education shall adjust the scholarship amounts to reflect the rate of inflation as measured by the Consumer Price Index.

 

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

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