Bill Text: SC H3383 | 2025-2026 | 126th General Assembly | Introduced
Bill Title: Permanent improvement projects
Spectrum: Partisan Bill (Republican 1-0)
Status: (N/A) 2024-12-09 - Scrivener's error corrected [H3383 Detail]
Download: South_Carolina-2025-H3383-Introduced.html
South Carolina General Assembly
126th Session, 2025-2026
Bill 3383
Indicates Matter Stricken
Indicates New Matter
(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)
A bill
TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 2-47-52, RELATING TO PERMANENT IMPROVEMENT PROJECTS, SO AS TO INDEX PROJECT LIMITS FOR CERTAIN ENTITIES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2-47-52 of the S.C. Code is amended by adding:
(F) Notwithstanding the cost maximums set forth in subsection (B) and (C) for research universities and other public institutions of higher learning, beginning in Fiscal Year 2026-2027, and each fiscal year thereafter, the amounts must be increased each fiscal year in a percentage amount equal to the increase in the construction only component of the Producer Price Index in the preceding fiscal year, but not less than zero, using the most recently available data, as determined by the Revenue and Fiscal Affairs Office. The Director of the Revenue and Fiscal Affairs Office shall submit the adjustment for the upcoming fiscal year to the State Register for publication pursuant to Section 1-23-40(2) by February first of each year.
SECTION 2. This act takes effect upon approval by the Governor.
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This web page was last updated on December 06, 2024 at 11:32 AM