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SOUTH CAROLINA REVENUE AND FISCAL AFFAIRS OFFICE STATEMENT OF ESTIMATED FISCAL IMPACT (803)7343780 RFA.SC.GOV/IMPACTSThis fiscal impact statement is produced in compliance with the South Carolina
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A fiscal impact summary explanation outlines the anticipated financial effects of a proposed legislation, policy, or budget change on government revenues and expenditures.
Entities such as government agencies, legislative sponsors, or individuals proposing laws that may have a significant fiscal impact on the state or local government are typically required to file a fiscal impact summary explanation.
To fill out a fiscal impact summary explanation, you should provide a detailed analysis of the expected financial impacts, including costs, revenue changes, and any assumptions made in the analysis.
The purpose of the fiscal impact summary explanation is to inform decision-makers and the public about the financial implications of proposed policies or legislation, aiding in transparency and responsible fiscal planning.
The information that must be reported includes estimated costs, potential revenue changes, relevant assumptions and methodology used, and any long-term fiscal effects.
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