S0381: Ratification of Constitutional amendment

Legislative Summary

Ratify An Amendment To Section 36(a), Article Iii Of The Constitution Of South Carolina, 1895, Relating To The General Reserve Fund, So As To Increase From Five To Seven Percent The Amount Of State General Fund Revenue In The Latest Completed Fiscal Year Required To Be Held In The General Reserve Fund; And To Ratify An Amendment To Section 36(b) Of Article Iii, Relating To The Capital Reserve Fund, So As To Increase From Two To Three Percent The Amount Of State General Fund Revenue In The Latest Completed Fiscal Year Required To Be Held In The Capital Reserve Fund And To Provide That The First Use Of The Capital Reserve Fund Must Be To Offset Midyear Budget Reductions. - Ratified Title