The proposed bill, titled the "South Carolina Lottery Scholarship Increase and Inflation Adjustment Act," aims to amend the South Carolina Code of Laws by adding Section 59-150-420. This new section mandates that the South Carolina Commission on Higher Education increase the amounts of lottery scholarships awarded to students by twenty-five percent, starting from the 2025-2026 academic year.

Additionally, the bill stipulates that beginning in 2030 and every five years thereafter, the Commission on Higher Education will adjust the scholarship amounts to account for inflation, as determined by the Consumer Price Index. This legislative change is designed to enhance financial support for students relying on lottery scholarships and ensure that these awards keep pace with economic changes over time. The act will take effect upon approval by the Governor.

Statutes affected:
12/05/2024: 59-150-420
Latest Version: 59-150-420