Ballot Prop. 2022: State Reserve Fund Minimum

What is happening? South Carolina voters will decide whether the state should set aside 7% of the previous year’s tax revenues into a general reserve fund each year & whether the capital reserve fund should equal 3% of the previous year’s revenues.

Why is this important? This would be an increase from 5 & 2% , respectively, that legislators reserve. During the Great Recession, legislators emptied these accounts.

Governing | South Carolina Voters to Determine State Budget Reserves