Select a different bill



S 0031 - Allows municipalities with less than $500,000 in total revenues to provide a compilation of financial statements

Tracking Level: Priority
Sponsor: Bradley Hutto (D)
Last Action: 6/8/2023 - Act No. 71
Senate Committee: Fin
House Committee: WM
Assigned To:
Advocacy Initiatives 2023Next Bill
Finance/Revenue/TaxesNext Bill
SenateNext Bill

Staff Analysis of the Legislation

03.30.2023 The House Ways and Means Committee adopted an amendment to the bill and adjourned debate to a later date. The amendment changes the Comptroller General to Treasurer and decreases the extension to 90 days.
03.28.2023 The House Ways and Means General Government subcommittee gave this bill a favorable report as amended. The amendment allows the Comptroller General to give counties a 180 day extension to submit an audit.
02.21.2023 The Senate Finance Committee gave this bill a favorable report.
02.14.2023 The Senate Finance Property Tax subcommittee gave this bill a favorable report.
Summary of the bill as introduced: Allows municipalities with less than $500,000 in total revenues to provide a compilation of financial statements instead of an independent audit of financial records. 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
South Carolina Legislature Online - Bill Search by Bill Number
South Carolina Legislature




Instructions


 
Loading...
Session 125 - (2023-2024)Printer Friendly
(pdf format)
S*0031 (Rat #0063, Act #0071 of 2023) General Bill, By Hutto and K. Johnson
Summary: Municipal Audit
    AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 5-7-240, RELATING TO INDEPENDENT AUDITS OF MUNICIPAL FINANCIAL RECORDS AND TRANSACTIONS, SO AS TO ALLOW MUNICIPALITIES WITH LESS THAN $500,000 IN TOTAL REVENUES TO PROVIDE A COMPILATION OF FINANCIAL STATEMENTS; BY AMENDING SECTION 14-1-208, RELATING TO FINES AND ASSESSMENTS, SO AS TO INCLUDE REFERENCES TO FILING A COMPILATION OF FINANCIAL STATEMENTS; AND BY AMENDING SECTION 4-9-150, RELATING TO AUDITS OF COUNTY RECORDS, SO AS TO ALLOW FOR A FILING EXTENSION IN CERTAIN CIRCUMSTANCES. - RATIFIED TITLE
View full text          View Vote History          View Fiscal Impact
11/30/22Senate Prefiled
11/30/22Senate Referred to Committee on Finance
01/10/23Senate Introduced and read first time (Senate Journal-page 27)
01/10/23Senate Referred to Committee on Finance (Senate Journal-page 27)
02/22/23Senate Committee report: Favorable with amendment Finance (Senate Journal-page 7)
02/27/23 Scrivener's error corrected
02/28/23Senate Committee Amendment Adopted (Senate Journal-page 14)
02/28/23Senate Read second time (Senate Journal-page 14)
02/28/23Senate Roll call Ayes-40 Nays-0 (Senate Journal-page 14)
03/01/23Senate Read third time and sent to House (Senate Journal-page 6)
03/01/23 Scrivener's error corrected
03/02/23House Introduced and read first time (House Journal-page 4)
03/02/23House Referred to Committee on Ways and Means (House Journal-page 4)
05/04/23House Committee report: Favorable with amendment Ways and Means (House Journal-page 7)
05/08/23 Scrivener's error corrected
05/09/23House Debate adjourned (House Journal-page 27)
05/10/23House Amended (House Journal-page 82)
05/10/23House Read second time (House Journal-page 82)
05/10/23House Roll call Yeas-104 Nays-7 (House Journal-page 83)
05/11/23House Read third time and returned to Senate with amendments (House Journal-page 17)
05/11/23Senate Concurred in House amendment and enrolled (Senate Journal-page 42)
05/11/23Senate Roll call Ayes-42 Nays-0 (Senate Journal-page 42)
05/17/23 Ratified R 63
05/22/23 Vetoed by Governor
05/23/23Senate Veto overridden by originating body Ayes-45 Nays-0 (Senate Journal-page 59)
06/07/23House Veto overridden Yeas-72 Nays-33 (House Journal-page 35)
06/08/23 Effective date 06/07/23
06/08/23 Act No. 71



Legislative Services Agency
h t t p : / / w w w . s c s t a t e h o u s e . g o v









Municipal Association of South Carolina
1411 Gervais St., PO Box 12109, Columbia, SC 29211
Phone: 803.799.9574, Fax: 803.933.1299, mail@masc.sc