This legislative session could go down in history as the one during which the S.C. General Assembly broke the banks of local governments.

The S.C. House passed H.3374 last week, permanently cutting the local government fund and removing any formula for its calculation in the future.

The LGF, or Local Government Revenue Sharing Fund as it will be called in the future, will be funded over the next two years at the same level it is funded in the current fiscal year budget, or approximately 30% below the level of funding required by state statute.