Budget and Control Board - Board of Economic Advisors
B&CB Home Page

BEA Home Page

House Revenue
Impact Statements

Senate Revenue
Impact Statements

Economic & Tax Reports

Privacy and Accessibility

Disclaimer

Rembert Dennis Building
1000 Assembly St., Suite 459
Columbia, SC 29201
(803)734-3805

INSPECTOR GENERAL'S
FRAUD HOTLINE

(State Agency fraud only)

1-855-SCFRAUD
or
1-855-723-7283

In 1973, the Budget and Control Board established the Board of Economic Advisors (BEA) to prepare and review economic forecasts and general fund revenue projections and to advise the Budget and Control Board and the General Assembly on these matters. As amended in 1992, membership on the BEA is as follows: one member appointed by the Governor to serve as chairman, a member appointed by the chairman of the Senate Finance Committee, one member appointed by the Chairman of the House Ways and Means Committee, and a representative of the Department of Revenue who serves ex officio as a non-voting member. BEA members have a working knowledge and experience in economics, revenue forecasting, and the state budget process.

The chairman of the BEA reports directly to the Budget and Control Board to establish policy governing economic trends. Serving as head of the BEA staff is the Chief Economist. BEA staff is supplemented by one designated professional from each of the offices of the Governor, Senate Finance Committee, House Ways and Means Committee, Department of Revenue, and State Budget Office.

As the chief economic advisor and general economic consultant to the state, the BEA performs a number of functions. One of its primary responsibilities is the revenue forecasting function. This involves the projection, formulation, evaluation, and continuing review of revenues for all state programs as well as economic research, collection, analysis, interpretation, and presentation of data pertaining to matters relative to the economy.

Per sections 2-7-71 of the Code of Laws of South Carolina, the Board of Economic Advisors is responsible for providing revenue impacts to the General Assembly for proposed legislation.