After years of debate in the General Assembly over replacing the Budget and Control Board, Governor Haley signed legislation in January that abolished the Board and establishes three new state agencies.
This new law created the Revenue and Fiscal Affairs Office effective July 1, 2014, by merging the Board of Economic Advisors, the State Budget Division, and the Division of Research and Statistics. Frank Rainwater is the new RFA executive director.
Among other duties, RFA staff will prepare fiscal and revenue impact statements for proposed legislation, assist the General Assembly in developing the annual general appropriations act, research Census data, and assist local governments with mapping and annexation services.
The other two agencies established by this legislation will go into effect July 1, 2015. The new Department of Administration will be under the governor, and a board similar to the current Budget and Control Board will oversee the new State Fiscal Accountability Authority.
Revenue and Fiscal Affairs Office
Effective July 1, 2014
Department of Administration
Effective July 1, 2015
State Fiscal Accountability Authority
Office of Regulatory Staff
Rural Infrastructure Authority