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S 0063 - Changes the funding formula of the Local Government Fund

Tracking Level: Priority
Sponsor: George Campsen (R)
Last Action: 1/10/2017 - Referred to Committee on Finance
Senate Committee: Fin
Assigned To:
Finance/Revenue/TaxesNext Bill
SenateNext Bill

Staff Analysis of the Legislation

Summary of the bill as introduced: Requires the Local Government Fund appropriations to be no less than the greater of the allocation ratio of the latest fiscal year or the average of the allocation ratio of the last five fiscal years.

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Session 122 - (2017-2018)Printer Friendly
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S 0063 General Bill, By Campsen
Summary: Local Government Fund funding
    A BILL TO AMEND SECTION 6-27-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FUNDING OF THE LOCAL GOVERNMENT FUND, SO AS TO DELETE THE REQUIREMENT THAT NOT LESS THAN FOUR AND ONE-HALF PERCENT OF GENERAL FUND REVENUES MUST BE APPROPRIATED, AND TO PROVIDE THAT APPROPRIATIONS MUST BE NO LESS THAN THE GREATER OF THE ALLOCATION RATIO OF THE LATEST FISCAL YEAR OR THE AVERAGE OF THE ALLOCATION RATIO OF THE LAST FIVE FISCAL YEARS.
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12/13/16Senate Prefiled
12/13/16Senate Referred to Committee on Finance
01/10/17Senate Introduced and read first time (Senate Journal-page 44)
01/10/17Senate Referred to Committee on Finance (Senate Journal-page 44)



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Municipal Association of South Carolina
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