The House of Representatives amended, approved, and sent the Senate H.4950, the General Appropriation Bill, and H.4951, the joint resolution making appropriations from the Capital Reserve Fund, which together comprise the $8.8 billion FISCAL YEAR 2018-2019 STATE GOVERNMENT BUDGET. The budget includes $8.2 billion in recurring state general fund revenue and $145 million in Capital Reserve Funds.
$32.4 million is devoted to the 1 percent increase in the employer contribution rates for the South Carolina Retirement System and the Police Officers Retirement System that is in keeping with the schedule for addressing the unfunded liability facing the state’s pensions established in Act 13 of 2017.
$56.4 million is included to cover the increased costs of operating the state’s health and dental insurance plans with no increases in the premiums paid by employees and small increases in deductibles and copayments. Coverage is expanded to include well visits.
For K-12 public education, $32 million is used to maintain the base student cost at $2,425 per pupil.
$60 million is provided for a statewide 2 percent teacher salary increase.
$5 million is used