South Carolina Rainy Day Fund Amendment, Amendment 3 (2010)

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The South Carolina Rainy Day Fund Amendment, also known as Amendment 3 was on the November 2, 2010 ballot in South Carolina as a legislatively-referred constitutional amendment, where it was approved.a The measure was proposed to require the state to keep more money in its rainy day fund, due to the economic downturn.

Election results

See also: 2010 ballot measure election results

Official election results of the measure follow:

Amendment 3 (Rainy Day Fund)
Result		Votes	Percentage
a Yes		890,015	70.91%
No		365,105	29.09%

Official results via the South Carolina State Election Commission.

Text of amendment

Ballot title

The ballot title of the measure read as follows:

Must Section 36(A), Article III of the Constitution of this State be amended so as to increase from three to five percent in increments of one-half of one percent over four fiscal years the amount of state general fund revenue in the latest completed fiscal year required to be held in the General Reserve Fund?

Explanation:

A ‘Yes' vote will increase the amount of money state government must keep in the General Reserve Fund (its "rainy day" fund) from 3% of the previous year's revenue to 5% of the previous year's revenue.

Yes []

No []

Constitutional changes

The measure was proposed to amend Article III, Section 36 of the South Carolina Constitution.

Support

Supporters

• The South Carolina Republican Party supported the amendment.

Opposition

There was no known campaign in opposition of the measure.

Media endorsements

See also:Endorsements of South Carolina ballot measures, 2010

Supporters

• The Post and Courier was in favor of the measure, arguing, "Voters should approve Amendment 3 "to increase from three to five percent in increments of one-half of one percent over four fiscal years the amount of state general fund revenue in the latest completed fiscal year required to be held in the General Reserve Fund."
• The Spartanburg Herald Journal urged voters to vote 'yes' on the measure, writing in an editorial, "South Carolina lawmakers have never shown fiscal restraint; it must be imposed on them. The enhanced reserves would cushion the blow of mid-year budget cuts if state revenues fall short."

Path to the ballot

Section 1 of Article XVI of the South Carolina Constitution says that a legislatively-referred amendment can go on the ballot if approved by a 2/3rds vote of each house of the South Carolina State Legislature. (If the state's voters approved the amendment, it must then go back to the legislature for a second affirmative vote.)

See also

Suggest a link

• South Carolina 2010 ballot measures
• 2010 ballot measures

Articles

• Rainy Day Fund measures get voter backing on Election Day

Additional reading

• South Carolina proposed constitutional amendments on the 2010 ballot
• Four amendments to appear on November ballot
• Understand constitutional ballot questions