South Carolina H 3383: Permanent improvement projects

Bill Text

2025-2026 Bill 3383 Text of Previous Version (Dec. 09, 2024) - South Carolina Legislature Online 

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 2025-2026, 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 09, 2024 at 11:59 AM