SC S1

Legislative Description

Delete The Existing State Spending Limitation And Require The General Assembly To Replace It By A Law Imposing An Annual Limit On The Appropriation Of State General Fund Revenues By Adjusting Such Revenues By A Rolling Ten-year Average In Annual Changes In General Fund Revenues; To Allow The Creation Of A Budget Stabilization Fund In The State Treasury To Which Must Be Credited All General Fund Revenues In Excess Of The Annual Limit; And To Provide By General Law For The Appropriations To Which The Limit Applies, The Method Of And Sources For Calculating The Limit; And To Provide For The Disbursements From The Budget Stabilization Fund.

Last Action

Committee Referrals