3. Election predictions
Earlier end to the session
Thanksgiving break
Holiday break …

4. And then this happened…
New revenue forecast:
$350M in new money

6. Top legislative issues, position statements and talking points handout
K-12 funding
Pension fund fix
Roads
School start date
State aid for school facilities
State intervention in districts in financial crisis

7. What’s in? $33M EFA Increase $2,350 to $2,400 BSC
Equates to about $30-$35 per student
Should be $2,984 per student
$36M for half of 2% employer retirement contribution
$25M health insurance increase
$375,000 increase teacher supply reimbursement
Proviso on payment notification by May 15
$10M bus purchase/lease
Discussed during capital bond committee
$19.4M increase state charter school district

8. What’s out? $23M technology funds (lottery)
$23M Aid to School District
$9M teacher recruitment Abbeville district

9. $100M for Abbeville Districts Facility Upgrades
swirling in the midst…
$100M for Abbeville Districts
Facility Upgrades

10. ready or not pension fund issue & roads on a fast track
but wait there is more…
ready or not
pension fund issue & roads
on a fast track

12. - jet plane speed Crossed chambers
Employee contribution rate from the current rate of 8.66% to 9%
Employer contribution rate increase 2% from the current rate of 11.56% to 13.56% next year – annual increase 1% for 5 year (2023) until reach 18.56%
Combined increases to system estimated to add $600 million annually to the pension plan.
Reduces the annual expected rate of return on the funds investments from 7.5% percent to 7%.
S.C. Public Employee Benefit Authority (PEBA) and the S.C. Retirement System Investment Commission governance

14. - roads headed for a collision?
10-cent gas tax increase
Increase vehicle sales tax, fees
$37M from EIA restored but wait…
Gov. McMaster publicly opposed to proposed 10-cent gas tax increase
Senate has anti tax members

15. other school start date state aid for school facilities
state intervention in districts in financial crisis
appointed vs elected state superintendent