COLUMBIA, S.C. (AP) - The House gave key approval Thursday to a bill that would set up procedures for the state Budget and Control Board to deal with an operating deficit.

The Fiscal Discipline Plan of 2004 was given second reading Thursday on a 92-0 vote.

The bill says that at the close of a fiscal year on June 30, the state comptroller general must account for general fund revenues and expenditures no later than Aug. 31 following the end of the fiscal year.

Under the bill, if expenditures exceed revenues and an operating deficit is found, the information must be reported to the budget board and taken up in the board's next meeting.

The bill authorizes the budget board to borrow the amount needed to balance the budgetary general fund from surpluses in any state agency.

Upon approval by the board of a repayment schedule, the state treasurer is authorized to transfer to the board from the general fund the amount necessary to repay the loan with interest no later than June 30 of the following fiscal year.