STATE HOUSE: State has extra $108 million to spend next year

Posted by ANDREW SHAIN on February 13, 2014 


— The S.C. General Assembly has an extra $108 million to spend next year after the state Board of Economic Advisors revised its budget estimate Thursday.

The state is getting $80 million above forecasts from the state lottery with a spike in ticket sales after a series of $100 million-plus jackpots.

The board also added $28 million that the state received from a drug lawsuit settlement.

South Carolina has about $7 billion in state money to spend next year.

Revenue from taxes and other sources are up an adjusted $39.5 million over a year ago.

But the board did not include that excess in what lawmakers could spend because of anticipated dips in tax collections after a pair of winter storms during the past two weeks.

Gov. Nikki Haley has asked that any extra money above budget forecasts go toward paying for road and bridge repairs.

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