House Committee approves House Bill 3843 with 22-0 vote

The South Carolina House Ways and Means Committee convened on March 6, 2025, to discuss key budgetary matters, culminating in the approval of House Bill 3,843. The bill received unanimous support, passing with a vote of 22 to 0. This legislation is significant as it outlines the state's financial framework for the upcoming fiscal year.

During the meeting, the committee reviewed the annual revenue base, which is essential for preparing the state budget. The Budget Analyst (B.A.) projected approximately $14.1 billion in recurring general fund revenue, which includes $666 million in new recurring revenue. Additionally, the committee discussed allocations for various funds, including $369 million for the capital reserve fund, $32 million for the contingency reserve fund, and $552 million for undesignated unreserved funds for fiscal year 2024-2025. This totals $1.25 billion in non-recurring dollars.

The committee adopted the revenue base resolution, referred to as Serial 1, which provides the necessary technical instructions for budget preparation and grants staff the authority to proceed with the budget process. The adoption of this resolution is a critical step in ensuring the state’s financial planning aligns with projected revenues.

Overall, the meeting underscored the committee's commitment to fiscal responsibility and transparency as South Carolina prepares for its upcoming budgetary challenges.