S.C. lawmakers will have an added $446 million to spend next year, bringing the state’s general fund budget to $7.9 billion, the Board of Economic Advisors forecast Thursday.
That total includes $139 million reserved for one-time costs — like building projects — if the state closes its books with a surplus. The state’s next budget will take effect July 1.
On top of the $446 million, another $16 million will be freed up because fewer general fund dollars will be needed to make up for a shortfall in sales tax revenues used to reduce property taxes.
Lawmakers will decide whether the added money should go to shore up the state’s underfunded pension system, address crumbling roads and rural schools, or pay for Hurricane Matthew recovery costs.