Adjusts funding limits for permanent improvement projects at research universities and public institutions of higher learning in South Carolina.

The bill amends Section 2-47-52 of the South Carolina Code to adjust the funding limits for permanent improvement projects at research universities and other public institutions of higher learning. Starting in Fiscal Year 2025-2026, the funding amounts will increase annually based on the construction component of the Producer Price Index, ensuring at least a zero percent increase. The Director of the Revenue and Fiscal Affairs Office must submit these adjustments to the State Register by February 1 each year. This act becomes effective upon approval by the Governor.

Adjusts funding limits for permanent improvement projects at research universities and public institutions of higher learning in South Carolina.

The bill amends Section 2-47-52 of the South Carolina Code to adjust the funding limits for permanent improvement projects at research universities and other public institutions of higher learning. Starting in Fiscal Year 2025-2026, the funding amounts will increase annually based on the construction component of the Producer Price Index, ensuring at least a zero percent increase. The Director of the Revenue and Fiscal Affairs Office must submit these adjustments to the State Register by February 1 each year. This act becomes effective upon approval by the Governor.