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.
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