<p> 1 BIL: 3883 2 TYP: General Bill GB 3 INB: House 4 IND: 20010405 5 PSP: Carnell 6 SPO: Carnell, Cotty, Govan, Simrill, Askins, Bales, Barrett, Battle, 7 G. Brown, R. Brown, Cobb-Hunter, Davenport, Gourdine, Harvin, J. Hines, 8 M. Hines, Hosey, Kirsh, Klauber, Koon, Lee, Littlejohn, 9 Meacham-Richardson, J.H. Neal, J.M. Neal, Ott, Parks, Rhoad, Rivers, 10 Scott, Sheheen, Snow, Stille, Taylor, Weeks and Wilder 11 DDN: l:\council\bills\dka\4184mm01.doc 12 RBY: House 13 COM: Ways and Means Committee 30 HWM 14 SUB: Surplus revenue appropriations, base revenue estimate; Appropriations 15 Act, State, General; Economic Advisors Board 16 17 18 19 HST: 20 21 Body Date Action Description Com Leg Involved 22 ______23 House 20010405 Introduced, read first time, 30 HWM 24 referred to Committee 25 26 27 Versions of This Bill 28 29 30 31 32 TXT: 1 2 3 4 5 6 7 8 9 A BILL 10 11 TO AMEND SECTION 11-11-140, AS AMENDED, CODE OF 12 LAWS OF SOUTH CAROLINA, 1976, RELATING TO LIMITS 13 ON APPROPRIATIONS OF SURPLUS GENERAL FUND 14 REVENUES AND REVENUES DERIVED FROM 15 ACCOUNTING CHANGES, SO AS TO LIMIT 16 APPROPRIATIONS IN THE ANNUAL GENERAL 17 APPROPRIATIONS ACT TO AN AMOUNT NOT TO EXCEED 18 THE BASE REVENUE ESTIMATE, TO DEFINE BASE 19 REVENUE ESTIMATE, TO PROVIDE FOR AN INCREASE IN 20 THE BASE REVENUE ESTIMATE ON THE WRITTEN 21 CERTIFICATION OF THE BOARD OF ECONOMIC 22 ADVISORS, AND TO PROVIDE WHEN AND FOR WHAT 23 PURPOSES SURPLUS REVENUES MAY BE 24 APPROPRIATED. 25 26 Be it enacted by the General Assembly of the State of South 27 Carolina: 28 29 SECTION 1. Section 11-11-140 of the 1976 Code, as last 30 amended by Section 13A, Part II, Act 155 of 1997, is further 31 amended to read: 32 33 “Section 11-11-140. (A)(1) In the Governor’s annual budget 34 recommendation to the General Assembly, no recommendation 35 may be made for the appropriation of surplus general fund 36 revenues in excess of amounts officially recognized as such by the 37 Board of Economic Advisors. 38 (2) In any bill or joint resolution appropriating general fund 39 revenues, no surplus general fund revenue may be appropriated in 40 excess of amounts officially recognized as such by the Board of 41 Economic Advisors. 42 (B) In making the annual budget recommendation to the General 43 Assembly, the Governor shall not incorporate or realize any 1 [3883] 1 1 revenue derived on the basis of any future change in a method of 2 accounting, as determined by the Budget and Control Board, 3 unless the change in a method of accounting is based on statutory 4 authority specifically granted to the Budget and Control Board or a 5 statutory enactment changing the method of accounting. 6 (A) General fund appropriations in the annual general 7 appropriations act may not exceed the base revenue estimate as 8 calculated pursuant to subsection (B) or as adjusted pursuant to 9 subsection (C). 10 (B) For purposes of this section, the base revenue estimate is 11 the lesser of: 12 (1) (a) the total of recurring general fund revenues 13 collected in the fiscal year completed before the General Assembly 14 first considers the annual general appropriations bill; 15 (b) increased by a sum equal to seventy - five percent of 16 the amount the general fund revenue estimate of the Board of 17 Economic Advisors for the upcoming fiscal year exceeds the 18 amount in subitem (a) of this item; or 19 (2) the general fund revenue estimate of the Board of 20 Economic Advisors for the upcoming fiscal year. 21 (C) The base revenue estimate may be increased or decreased 22 upon a written certification from the Board of Economic Advisors 23 of a change in estimated revenue as a result of: 24 (1) an amendment to the general appropriations bill which 25 affects the revenue estimate of the Board of Economic Advisors; 26 or 27 (2) enacted legislation which affects the board’s estimate. 28 (D) Appropriations from surplus may not be made before the 29 first meeting of the General Assembly following the Comptroller 30 General’s closing of the books on the fiscal year in which the 31 surplus occurred and the appropriations from surplus may be only 32 for nonrecurring purposes. 33 (E) In making a recommendation to the General Assembly for 34 the fiscal year 2002-03 budget, and for each year after that, the 35 Budget and Control Board shall not incorporate or realize revenue 36 derived on the basis of a future change in a method of accounting, 37 as determined by the Budget and Control Board, unless the change 38 in a method of accounting is based on statutory authority 39 specifically granted to the Budget and Control Board or a statutory 40 enactment changing the method of accounting.” 41</p><p>1 [3883] 2 1 SECTION 2. This act takes effect upon approval by the Governor 2 and first applies with respect to appropriations for fiscal year 3 2002-03. 4 ----XX----</p><p>1 [3883] 3</p>