§ 143C-4-6. General Fund operating budget size limited.
§ 143C‑4‑6. General Fund operating budget size limited.
(a) Size Limitation. Exceptas otherwise provided in this section, the General Fund operating budget eachfiscal year shall not be greater than seven percent (7%) of the projected totalState personal income for that fiscal year.
(b) Increase in SizeLimitation. To the extent that any percent increase in appropriations for afiscal year for (i) Medicaid, (ii) operation of prisons, or (iii) operation ofthe courts or (iv) the costs of providing health insurance for teachers andState employees, exceeds the percent increase in State personal income growthfor the same period, the limitation on the size of the General Fund operatingbudget provided in subsection (a) of this section for that fiscal year shall beincreased by the dollar amount represented by the excess percentage. For allsubsequent fiscal years, the percent limitation contained in subsection (a)shall then be increased to reflect that dollar adjustment.
(c) Fiscal Reports. TheOffice of State Budget and Management and the Fiscal Research Division of theGeneral Assembly shall each submit a tentative estimate of total State personalincome for the upcoming fiscal year to the General Assembly no later thanFebruary 1 of each year. The Office and the Fiscal Research Division shall eachsubmit a final projection of total State personal income for the upcomingfiscal year to the General Assembly no later than May 1 of each year. TheGeneral Assembly shall use the lower of the two final projections to calculatethe limitation on the size of the General Fund operating budget provided inthis section. (2006‑203,s. 3; 2007‑393, s. 5.)