S.C. Code Ann. § 11-42-20 — SC Code / Title 11 / Chapter 42 / Section 11-42-20
SECTION 11-42-20. Legislative purpose.
Status: in_force

Comprehensive infrastructure development and planning is vitally important to the State and to its local political subdivisions. The General Assembly, by this chapter, creates a state program and a unit of state government to work with state agencies, regional councils of government, and local political subdivisions to coordinate infrastructure planning, to assist in development of comprehensive regional infrastructure development plans, and to identify and coordinate the funding related to infrastructure development distributed through state agencies in order to maximize efficiency and promote comprehensive infrastructure development planning.
S.C. Code Ann. § 11-19-80 — SC Code / Title 11 / Chapter 19 / Section 11-19-80
SECTION 11-19-80. Tax exempt status of obligations.
Status: in_force

All obligations issued pursuant to this chapter and all interest to accrue thereon shall have the tax exempt status prescribed by SECTION 12-1-60.
S.C. Code Ann. § 11-15-10 — SC Code / Title 11 / Chapter 15 / Article 1 / Section 11-15-10
SECTION 11-15-10. Record of public bond issues to be kept and filed.
Status: in_force

In case any county, township, school district, city, town or other municipality is authorized to issue bonds in pursuance of law, the persons and officers charged therewith shall make a full record of the proceedings connected with such bond issue, and a copy of the record of such proceedings shall be filed and indexed in the office of the clerk of court of the county in a special book to be furnished therefor.
S.C. Code Ann. § 11-21-40 — SC Code / Title 11 / Chapter 21 / Section 11-21-40
SECTION 11-21-40. Findings to be made by governing board.
Status: in_force

Prior to any advanced refunding the governing board of any public agency which shall have outstanding bonds shall find either: (a) That a savings can be effected through advanced refunding; (b) That existing covenants and agreements in the proceedings authorizing the outstanding bonds payable from revenue-producing projects hamper or impede the ability of the public agency to borrow monies which are then or thereafter required to provide for improvements, enlargements and extensions to such revenue-producing projects. In the event any governing board shall undertake to effect an advanced refunding pursuant to Chapter 17, Title 6 and this chapter, and at the same time to borrow for the purpose of constructing improvements to its revenue-producing project, it shall likewise have found that such improvements are then necessary and can be accomplished with the monies provided by the proceeds of the refunding bonds issued pursuant to Chapter 17, Title 6 and this chapter for the purpose of constructing such improvements.
S.C. Code Ann. § 11-17-70 — SC Code / Title 11 / Chapter 17 / Section 11-17-70
SECTION 11-17-70. Notes secured by full faith, credit, and taxing power of borrower.
Status: in_force

Notes issued pursuant to this chapter in anticipation of the issuance of general obligation bonds shall be general obligations of the borrower also secured by a pledge of the full faith, credit and taxing power of the borrower, and any governing body is authorized to make such a pledge in the proceedings providing for the issuance of any notes pursuant to this chapter in anticipation of the issuance of general obligation bonds.
S.C. Code Ann. § 11-41-80 — SC Code / Title 11 / Chapter 41 / Section 11-41-80
SECTION 11-41-80. Adoption of resolution effecting issue of bonds.
Status: in_force

Following the receipt of the notification presented pursuant to Section 11-41-70 and after review by the Joint Bond Review Committee, and approval by the State Fiscal Accountability Authority, by resolution duly adopted, shall effect the issue of bonds, or pending the issue of the bonds, effect the issue of bond anticipation notes pursuant to Chapter 17 of this title. Effect of Amendment 2014 Act No. 121, SECTION 20.H.2, substituted "review" for "approval" before "by the Joint Board", and substituted "and approval by the State Fiscal Accountability Authority" for "the State Budget and Control Board".
S.C. Code Ann. § 11-44-80 — SC Code / Title 11 / Chapter 44 / Section 11-44-80
SECTION 11-44-80. Tax credits not considered securities.
Status: repealed

Tax credits generated as a result of these investments are not considered securities under the laws of this State. Editor's Note 2013 Act No. 80, SECTION 1.B., as amended by 2020 Act No. 138, SECTION 3.A., and SECTION 3, provide as follows: "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed." "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012." 2020 Act No. 138, SECTION 3.B., provides as follows: "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
S.C. Code Ann. § 11-35-530 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-530
SECTION 11-35-530. Advisory committees.
Status: in_force

The following advisory committees may be established by the board for the purpose of advising the board: (a) The board may appoint a purchasing policies and procedures advisory committee comprised of state and local government, and public members to discuss the performance of public purchasing in the State and to consider specific methods for improvement. (b) The board may appoint an information technology and procedures advisory committee comprised of state and local government and public members to discuss the purchasing performance of information technology for government in the State and to consider specific methods for improvement. (c) The board may appoint a construction, architect-engineer, construction management, and land surveying services advisory committee comprised of state and local government and public members to discuss the purchasing performance of these services in the State and to consider specific methods of improvement. The advisory committee shall be comprised of the following: the State Engineer, a state agency representative, a banker, an attorney, a representative of local government, a registered architect, a registered engineer, a licensed building contractor, and a licensed subcontractor. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 9, in the first undesignated paragraph, substituted "board" for "policy committee"; in (a) and (b), deleted "in accordance with regulations of the board" following "and public members"; and in (c), in the first sentence, substituted "may" for "shall" and deleted "in accordance with regulations of the board" following "public members".
S.C. Code Ann. § 11-25-120 — SC Code / Title 11 / Chapter 25 / Article 3 / Section 11-25-120
SECTION 11-25-120. Clerks of the two Houses to furnish corrected journals.
Status: in_force

The clerks of the two Houses shall furnish the public printer corrected journals daily for the permanent printing.
S.C. Code Ann. § 11-49-80 — SC Code / Title 11 / Chapter 49 / Section 11-49-80
SECTION 11-49-80. Board and authority assets limited to tobacco receipts.
Status: in_force

The authority and the board shall have no other assets or property except the State's tobacco receipts as received, and the right to receive the State's tobacco receipts.
S.C. Code Ann. § 11-55-50 — SC Code / Title 11 / Chapter 55 / Section 11-55-50
SECTION 11-55-50. Devolution of certain responsibilities of former Budget and Control Board.
Status: in_force

Where the applicable enabling statute or the general law relating to a permanent improvement project or the issuance of bonds or funding relating to the project both the review of the Joint Bond Review Committee and the approval by the former Budget and Control Board, the responsibility of the former Budget and Control Board, in this regard, is devolved upon the authority with no prior approval required on the part of the department.
S.C. Code Ann. § 11-9-805 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-805
SECTION 11-9-805. Definitions.
Status: in_force

For purposes of this article: (1) "Executive Director" means the Executive Director of the Revenue and Fiscal Affairs Office. (2) "Office" means the Revenue and Fiscal Affairs Office. (3) "Tax expenditure" means an amount of state revenue unavailable for general fund appropriation when the loss of revenue is attributable to a provision of the South Carolina Code of Laws which allow a special exclusion, exemption, or deduction from gross income, which provide a special credit, a preferential rate of tax, or a deferral of tax liability or which allocate or distribute state funds pursuant to an incentive program or fund. Effect of Amendment 2019 Act No. 83, SECTION 6, added (3), relating to the definition of "Tax expenditure".
S.C. Code Ann. § 11-57-340 — SC Code / Title 11 / Chapter 57 / Article 3 / Section 11-57-340
SECTION 11-57-340. Report.
Status: in_force

The executive director shall report to the President of the Senate, the Speaker of the House of Representatives, and the Governor annually by October first, on the status of the federal "Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010" (Public Law 111-195), the "Iran Divestment Act of 2014", and any rules or regulations adopted thereunder. Effect of Amendment 2019 Act No. 1, SECTION 47, substituted "President of the Senate" for "President Pro Tempore of the Senate".
S.C. Code Ann. § 11-48-40 — SC Code / Title 11 / Chapter 48 / Section 11-48-40
SECTION 11-48-40. Nonresident nonparticipating manufacturer not registered to do business in State; appointment of agent for service of process.
Status: in_force

(A) A nonresident or foreign nonparticipating manufacturer that has not registered to do business in the State as a foreign corporation or business entity, as a condition precedent to having its brand families listed or retained in the directory, shall appoint and continually engage without interruption the services of an agent in this State to act as agent for the service of process on whom all process and action or proceeding against it concerning or arising out of the enforcement of Chapter 47 of this title, may be served in a manner authorized by law. That service is legal and valid service of process on the nonparticipating manufacturer. The nonparticipating manufacturer shall provide the name, address, phone number, and proof of the appointment and availability of the agent to, and to the satisfaction of the Attorney General. (B) The nonparticipating manufacturer shall provide notice to the Attorney General thirty calendar days before termination of the authority of an agent and proof to the satisfaction of the Attorney General of the appointment of a new agent no fewer than five calendar days before the termination of an existing agent appointment. If an agent terminates an agency appointment, the nonparticipating manufacturer shall notify the Attorney General of the termination within five calendar days and shall include proof to the satisfaction of the Attorney General of the appointment of a new agent. (C) A nonparticipating manufacturer whose cigarettes are sold in this State without appointing or designating an agent as required by this section is deemed to have appointed the Secretary of State as the agent and may be proceeded against in courts of this State by service of process upon the Secretary of State; except that, appointment of the Secretary of State as the agent does not satisfy the condition precedent to having its brand families listed or retained in the directory.
S.C. Code Ann. § 11-37-20 — SC Code / Title 11 / Chapter 37 / Section 11-37-20
SECTION 11-37-20. Definitions.
Status: in_force

As used in this chapter, unless a different meaning clearly appears from the context: (1) "Authority" means the South Carolina Resources Authority. (2) "Bonds" means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, or any other evidence of indebtedness of the authority. (3) "Capital reserve fund" means any reserve fund created and established by the authority pursuant to this chapter. (4) "Cost" as applied to any project financed under the provisions of this chapter means the total of all costs incurred by the local government in carrying out all works and undertakings necessary or incidental to the accomplishment of any project. It includes, without limitation, all necessary developmental, planning and feasibility studies, surveys, plans and specifications, architectural, engineering, financial, legal, or other special services, the cost of acquisition of land and any buildings and improvements on the land, including the discharge of any obligations of the sellers of the land, buildings or improvements, site preparation and development, including demolition or removal of existing structures, construction and reconstruction, labor, materials, machinery and equipment, the reasonable costs of financing incurred by the local government in the course of the development of the project, carrying charges incurred before placing the project in service, interest on local obligations issued to finance the project to a date subsequent to the estimated date the project is to be placed in service, necessary expenses incurred in connection with placing the project in service, the funding of accounts and reserves which the authority may require, and the cost of other items which the authority determines to be reasonable and necessary. (5) "Local government" means any county, municipality, special purpose or special service district, or Commission of Public Works of the State and any private eleemosynary water companies, private eleemosynary sewer companies, and private eleemosynary companies which provide both water and sewer services. (6) "Local obligations" means any bonds, notes, debentures, interim certificates, bond, grant, or revenue anticipation notes, or any other evidences of indebtedness of a local government. (7) "Project" means any water supply, sewer system, sewage, wastewater treatment facility, or any other project hereafter committed to the authority by subsequent enactment of the General Assembly. (8) "Reserve fund requirement" means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement as established by the resolution of the authority authorizing the issuance of or by the trust indenture securing any issue of bonds.
S.C. Code Ann. § 11-35-3305 — SC Code / Title 11 / Chapter 35 / Article 10 / Section 11-35-3305
SECTION 11-35-3305. Establishment of indefinite quantity contracts.
Status: in_force

With the approval of the appropriate chief procurement officer, and in accordance with any applicable regulations, a procurement officer may establish contracts providing for an indefinite quantity, within state maximum or minimum limits, of specified supplies, service, or information technology, to be furnished during a fixed period, and that provide for the issuance of orders for delivery or performance of individual requirements during the period of the contract. The appropriate chief procurement officer may establish the contracts on behalf of any governmental body or for use by any public procurement unit. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date."
S.C. Code Ann. § 11-37-90 — SC Code / Title 11 / Chapter 37 / Section 11-37-90
SECTION 11-37-90. Bonds as debt of authority only.
Status: in_force

Bonds issued by the authority do not constitute a debt or a pledge of the faith and credit of the State of South Carolina, or any of its political subdivisions other than the authority, but are payable solely from the revenue, money, or property of the authority as provided for in this chapter. The bonds issued do not constitute an indebtedness of the State within the meaning of any state constitutional or statutory limitation. No member of the authority or any person executing bonds of the authority is liable personally on the bonds by reason of their issuance or execution. Each bond issued under this chapter must contain on its face a statement to the effect that: (1) neither the State, nor any of its political subdivisions, nor the authority is obligated to pay the principal of or interest on the bond or other costs incident to the bond except from the revenue, money, or property of the authority pledged; (2) neither the faith and credit nor the taxing power of the State, or any of its political subdivisions, is pledged to the payment of the principal of or interest on the bond; (3) the authority does not have taxing power.
S.C. Code Ann. § 11-35-3050 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3050
SECTION 11-35-3050. Cost principles regulations for construction contractors.
Status: in_force

The board may promulgate regulations setting forth cost principles which shall be used to determine the allowability of incurred costs for the purpose of reimbursing costs under provisions in construction contracts which provide for the reimbursement of costs.
S.C. Code Ann. § 11-35-2610 — SC Code / Title 11 / Chapter 35 / Article 7 / Section 11-35-2610
SECTION 11-35-2610. Definitions of terms used in this article.
Status: in_force

As used in this article, the term "specifications" means any technical or purchase description or other description of the physical or functional characteristics, or of the nature of a supply, service, or construction item. It may also include a description of any requirement for inspecting, testing, or preparing a supply, service, or construction item for delivery.
S.C. Code Ann. § 11-1-100 — SC Code / Title 11 / Chapter 1 / Section 11-1-100
SECTION 11-1-100. Starting date of projects funded with capital improvement bonds regulated.
Status: in_force

The State Fiscal Accountability Authority or Department of Administration, as appropriate, after review of the Joint Bond Review Committee, is authorized and directed to regulate the starting date of the various projects approved for funding through the issuance of Capital Improvement Bonds so as to ensure that the appropriations for debt service on these bonds, as provided in the general appropriations act, is sufficient during the current fiscal year. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-23-50 — SC Code / Title 11 / Chapter 23 / Section 11-23-50
SECTION 11-23-50. Powers conferred by chapter are additional.
Status: in_force

The powers and authorizations hereby conferred upon political subdivisions and public bodies shall be in addition to all other powers and authorizations previously vested in them.
S.C. Code Ann. § 11-35-5340 — SC Code / Title 11 / Chapter 35 / Article 23 / Section 11-35-5340
SECTION 11-35-5340. School district subject to consolidated procurement code; exemptions.
Status: in_force

Irrespective of the source of funds, any school district whose budget of total expenditures, including debt service, exceeds seventy-five million dollars annually is subject to the provisions of Chapter 35, Title 11, and shall notify the Director of the Division of Procurement Services of the State Fiscal Accountability Authority of its expenditures within ninety days after the close of its fiscal year. However, if a district has its own procurement code which is, in the written opinion of the Division of Procurement Services of the State Fiscal Accountability Authority, substantially similar to the provisions of the South Carolina Consolidated Procurement Code, the district is exempt from the provisions of the South Carolina Consolidated Procurement Code except for a procurement audit which must be performed every three years by an audit firm approved by the Division of Procurement Services. Costs associated with the internal review and audits are the responsibility of the school district and will be paid to the entity performing the audit. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the "Budget and Control Board", the "State Budget and Control Board" or the "board" were changed to the "State Fiscal Accountability Authority", the "authority", or the "Division of Procurement Services" of the "State Fiscal Accountability Authority", pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(B), effective July 1, 2015. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 4, in the first sentence, substituted "Director of the Division of Procurement Services" for "Director of the Office of General Services", and in the second sentence, substituted "Division of Procurement Services" for "Office of General Services" in two places.
S.C. Code Ann. § 11-9-660 — SC Code / Title 11 / Chapter 9 / Article 7 / Section 11-9-660
SECTION 11-9-660. Investment of funds.
Status: in_force

(A) The State Treasurer has full power to invest and reinvest all funds of the State in any of the following: (1) obligations of the United States, its agencies and instrumentalities; (2) obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, the African Development Bank, and the Asian Development Bank; (3) obligations of a corporation, state, or political subdivision denominated in United States dollars, if the obligations bear an investment grade rating of at least two nationally recognized rating services; (4) certificates of deposit, if the certificates are secured collaterally by securities of the types described in items (1) and (3) of this section and held by a third party as escrow agent or custodian and are of a market value not less than the amount of the certificates of deposit so secured, including interest; except that this collateral is not required to the extent the certificates of deposit are insured by an agency of the federal government; (5) repurchase agreements, if collateralized by securities of the types described in items (1) and (3) of this section and held by a third party as escrow agent or custodian and of a market value not less than the amount of the repurchase agreement so collateralized, including interest; and (6) guaranteed investment contracts issued by a domestic or foreign insurance company or other financial institution, whose long-term unsecured debt rating bears the two highest ratings of at least two nationally recognized rating services. (B) The State Treasurer may contract to lend securities invested pursuant to this section. (C) The State Treasurer shall not invest in obligations issued by any country or corporation principally located in any country which the United States Department of State determines commits major human rights violations based on the Country Reports on Human Rights Practices by the Bureau of Democracy, Human Rights and Labor of the U. S. Department of State.
S.C. Code Ann. § 11-43-540 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-540
SECTION 11-43-540. Limitations; review by Joint Bond Review Committee; payment of principal and interest.
Status: in_force

The issuance of transportation infrastructure bonds is subject to the limitations contained in Section 13(6)(c), Article X of the Constitution of this State. Within such limitations, transportation infrastructure bonds may be issued for qualified projects or to refund transportation infrastructure bonds from time to time under the conditions prescribed by this article. The review and approval of the Joint Bond Review Committee must be obtained prior to the issuance of any transportation infrastructure bonds. No transportation infrastructure bonds may be issued unless the board has a source of revenues to pay the principal and interest on the bonds.
S.C. Code Ann. § 11-46-60 — SC Code / Title 11 / Chapter 46 / Section 11-46-60
SECTION 11-46-60. Repayment of grant.
Status: in_force

Two percent of the gross profits derived from the sale of hydrogen and fuel cell products or services developed from a grant to a grant recipient, organized and operating as a for-profit business entity, must be annually remitted to the fund through June 30, 2012, until the full amount of the original grant has been repaid to the fund. Thereafter, if the full amount of the original grant has not been repaid, two percent of such gross profits must be annually remitted to the State Treasurer and transferred to the general fund of the State until repaid. The Department of Revenue shall promulgate regulations to determine and certify gross profits.
S.C. Code Ann. § 11-42-90 — SC Code / Title 11 / Chapter 42 / Section 11-42-90
SECTION 11-42-90. Regional Councils of Government to serve as liaisons between Division of Regional Development and state political subdivisions; activities and duties.
Status: in_force

(A) The Regional Councils of Government shall serve as liaisons between the Division of Regional Development and the political subdivisions of this State. The Regional Councils of Government, utilizing among other things the infrastructure development plans of the local political subdivisions, shall develop and submit regional comprehensive infrastructure development plans to the Division of Regional Development. The political subdivisions must be encouraged to develop local comprehensive infrastructure development plans. The Regional Councils of Government shall coordinate and assist the political subdivisions in the development of these plans. The Regional Councils of Government also shall undertake and carry out such activities as necessary to assist the Division of Regional Development in coordinating, developing, and implementing a coordinated and comprehensive infrastructure development plan for the State. Such activities may include, but are not limited to, the following: (1) The Regional Councils of Government shall assist the political subdivisions in creating and developing local comprehensive infrastructure development plans. The political subdivisions shall take into account future developmental needs regarding water and sewer, and communications when developing their plans. (2) The Regional Councils of Government, utilizing the infrastructure development plans of the respective political subdivisions, among other things, shall assist the Division of Regional Development in coordinated and comprehensive planning on the state level and throughout the State including, but not limited to, assistance in the development of an infrastructure development plan for the State. (3) The Regional Councils of Government, utilizing the infrastructure development plans of the respective political subdivisions shall assist the Division of Regional Development in defining the state's long-term goals, objectives, and priorities and implementing those goals, objectives, and priorities through a coordinated and comprehensive infrastructure development plan. (B) The Regional Councils of Government shall establish recommended standards and procedures for preparation of local comprehensive infrastructure development plans, for implementation of infrastructure development plans, and for participation in the infrastructure development planning process. Such activities may include, but are not limited to, the following: (1) As part of such recommended standards and procedures, the Regional Councils of Government shall establish elements which must be addressed and included in the infrastructure development plans of political subdivisions which are prepared as part of the coordinated and comprehensive planning process. These plans shall include, but are not limited to, water and sewer services and communications. (2) The Regional Councils of Government shall establish recommended standards and procedures which must be used by the political subdivisions in developing, preparing, and implementing their infrastructure development plans. In establishing such standards and procedures, the Regional Councils of Government are authorized to differentiate among the political subdivisions based upon factors which the councils determine merit differentiation, such as total population, density of population, geographic features, the size of tax base, projected growth, the type and character of services furnished by local governments, the size of the budget, need, and other factors. (3) The Regional Councils of Government, in developing planning procedures with respect to regionally important resources, shall focus on elements of regional districts with respect to developments of regional impact, and encourage interjurisdictional cooperation among the political subdivisions. The councils shall determine, in their judgment for each region, what constitutes developments of regional impact. Such determinations by the councils must be made for each region only after requesting any necessary information from their respective political subdivisions. (C) The political subdivisions are encouraged to coordinate with and assist the Regional Councils of Government in developing local and regional comprehensive infrastructure development plans. Political subdivisions are encouraged to coordinate with the Regional Councils of Government in the analysis and preparation of these plans. The political subdivisions shall utilize information relating to water and sewer services and communications. Further, data relating to current population and projected growth, tax base, local budget information, geographic factors, other demographics, and other data considered necessary must be utilized by the Regional Councils of Government.
S.C. Code Ann. § 11-37-60 — SC Code / Title 11 / Chapter 37 / Section 11-37-60
SECTION 11-37-60. Authority only to issue refunding bonds; maximum amount of bonds.
Status: in_force

The authority may issue bonds only for the purpose of refunding bonds of the authority issued before December 31, 1992, or for the purpose of refunding these refunding bonds. The total principal amount of bonds of the authority outstanding at any one time may not exceed the sum of sixty million dollars.
S.C. Code Ann. § 11-58-60 — SC Code / Title 11 / Chapter 58 / Section 11-58-60
SECTION 11-58-60. Administrative Subfund.
Status: in_force

(A) The State Treasurer shall establish the Administrative Subfund within the South Carolina Opioid Recovery Fund. (B) Funds allocated to the Administrative Subfund by the South Carolina Opioid Recovery Fund Board may be expended by the board and the State Fiscal Accountability Authority to pay for the costs associated with administering this chapter, in accordance with a budget adopted or amended pursuant to Section 11-58-80(E). (C) The board may authorize the State Treasurer to transfer funds from the Administrative Subfund to the South Carolina Opioid Recovery Fund at any time.
S.C. Code Ann. § 11-17-80 — SC Code / Title 11 / Chapter 17 / Section 11-17-80
SECTION 11-17-80. Purpose of bonds deemed to include payment of notes.
Status: in_force

Whenever any borrower shall be authorized to issue bonds for any specific purpose, the purpose shall be deemed to include the monies required to meet the payment of the principal and interest of notes issued pursuant to this chapter.
S.C. Code Ann. § 11-15-560 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-560
SECTION 11-15-560. Bonds legal for fiduciary and sinking fund commission investment.
Status: in_force

All executors, administrators, guardians, committees and fiduciaries and all sinking fund commissions may invest monies in their hands in bonds issued under this article.
S.C. Code Ann. § 11-57-40 — SC Code / Title 11 / Chapter 57 / Article 1 / Section 11-57-40
SECTION 11-57-40. Chapter inapplicable to certain procurements or contracts.
Status: in_force

This chapter does not apply to a procurement or contract valued at ten thousand dollars or less. Editor's Note 2015 Act No. 63, SECTION 5, provides as follows: "SECTION 5. This act takes effect upon approval by the Governor and does not apply to contracts entered into before the effective date of this act." Effect of Amendment 2015 Act No. 63, SECTION 3, substituted "ten thousand" for "one thousand".
S.C. Code Ann. § 11-13-125 — SC Code / Title 11 / Chapter 13 / Section 11-13-125
SECTION 11-13-125. State Treasury designated as depository for all funds received by state departments and institutions.
Status: in_force

All funds received by any department or institution of the state Government shall be deposited and maintained in appropriate accounts in the State Treasury except such funds as may be authorized by the State Fiscal Accountability Authority to be maintained in departmental or institutional bank accounts for regular operating purposes or for other justifiable circumstances, such accounts to be maintained in such banks or banking institutions as shall be designated by the State Treasurer. To facilitate the management of all funds, all earnings from investments of general deposit funds shall become a part of the General Fund of the State. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-37-220 — SC Code / Title 11 / Chapter 37 / Section 11-37-220
SECTION 11-37-220. Bonds as legal investments and securities.
Status: in_force

The bonds issued by the authority are legal investments in which all public officers or public bodies of the State, its political subdivisions, all municipalities and political subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings banks, savings associations, including savings and loan association investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, and other fiduciaries, and all other persons who are now or may be authorized in the future to invest in bonds or other obligations of the State, may invest funds in their control or belonging to them. The bonds of the authority are also securities which may be deposited with and received by all public officers and bodies of the State or any agency or political subdivision of the State and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be required by law.
S.C. Code Ann. § 11-13-20 — SC Code / Title 11 / Chapter 13 / Section 11-13-20
SECTION 11-13-20. Deposit of state funds in banks or trust companies.
Status: in_force

To facilitate the disbursement of public monies, the State Treasurer shall deposit in such bank or banks or trust companies in this State as shall be agreed upon by the State Fiscal Accountability Authority or a majority thereof, and as in its opinion shall be secure, all monies belonging to the State, other than those he may keep in the safe in the vault of the designated bank or trust company, the monies so deposited to be placed to the credit of the State Treasurer. Such deposits shall draw the best rate of interest obtainable. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-5-150 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-150
SECTION 11-5-150. Monies appropriated for erection of state college buildings.
Status: in_force

All monies appropriated to provide buildings for any of the state colleges shall remain in the State Treasury until they shall be needed for the actual erection of the respective buildings for which the appropriations are made.
S.C. Code Ann. § 11-44-70 — SC Code / Title 11 / Chapter 44 / Section 11-44-70
SECTION 11-44-70. Application for tax credit; approval; report.
Status: repealed

(A) An angel investor seeking to claim a tax credit provided for under this chapter shall submit an application to the Department of Revenue for tentative approval for the tax credit in the year for which the tax credit is claimed or allowed. The Department of Revenue shall provide for the manner in which the application is to be submitted. The Department of Revenue shall review the application and tentatively shall approve the application upon determining that it meets the requirements of this chapter. (B) The Department of Revenue shall provide tentative approval of the applications by the date provided in subsection (C). (C) The Department of Revenue shall notify each qualified investor of the tax credits tentatively approved and allocated to the qualified investor by January thirty-first of the year after the application was submitted. If the credit amounts on the tax credit applications filed with the Department of Revenue exceed the maximum aggregate limit of tax credits, then the tax credit must be allocated among the angel investors who filed a timely application on a pro rata basis based upon the amounts otherwise allowed by this chapter. Once the tax credit application has been approved and the amount has been communicated to the applicant, the angel investor then may apply the amount of the approved tax credit to its tax liability for the tax year of which the approved application applies. (D) By March thirty-first each year, the Department of Revenue shall report to the House Ways and Means Committee, the Senate Finance Committee, and the Governor, by county, the number of angel investor tax credit applications the department has received, the number of tax credit applications approved, and the tax credits approved. This report must be made available in a conspicuous place on the department's website. Editor's Note 2013 Act No. 80, SECTION 1.B., as amended by 2020 Act No. 138, SECTION 3.A., and SECTION 3, provide as follows: "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed." "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012." 2020 Act No. 138, SECTION 3.B., provides as follows: "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
S.C. Code Ann. § 11-35-4430 — SC Code / Title 11 / Chapter 35 / Article 17 / Section 11-35-4430
SECTION 11-35-4430. Communication with panel members.
Status: in_force

Unless required for the disposition of ex parte matters authorized by law, members or employees of the panel assigned to render a decision or to make findings of fact and conclusions of law in a matter pending before the panel shall not communicate, directly or indirectly, in connection with any issue of fact, with any person or party, nor, in connection with any issue of law, with any party or his representative, except upon notice and opportunity for all parties to participate. A panel member: (a) may communicate with other members of the panel, and (b) may have the aid and advice of one or more personal assistants. Any person who violates the provisions of this section shall be deemed guilty of a misdemeanor and, upon conviction, shall be fined not more than two hundred fifty dollars or imprisoned for not more than six months. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date."
S.C. Code Ann. § 11-57-710 — SC Code / Title 11 / Chapter 57 / Article 7 / Section 11-57-710
SECTION 11-57-710. Exception to investment prohibition on case-by-case basis.
Status: in_force

Notwithstanding Section 11-57-700, an investment may be made in a person engaged in investment activities in Iran as described in Section 11-57-300, on a case-by-case basis, if: (1) the investment activities in Iran were made before the effective date of this act, the investment activities in Iran have not been expanded or renewed after the effective date of this act, and the person has adopted, publicized, and is implementing a formal plan to cease the investment activities in Iran and to refrain from engaging in any new investments in Iran; or (2) the investor makes a determination that the investments are necessary to perform its functions.
S.C. Code Ann. § 11-5-60 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-60
SECTION 11-5-60. County treasurer to be charged interest for refusal or neglecting to pay taxes.
Status: in_force

If any treasurer shall refuse or neglect to pay the taxes received by him within the time required by law, the State Treasurer shall, in addition to the coercive power which he now possesses, charge the county treasurer with interest, at the rate of five per cent per month, from the time he ought to have paid the taxes to the time of payment.
S.C. Code Ann. § 11-55-40 — SC Code / Title 11 / Chapter 55 / Section 11-55-40
SECTION 11-55-40. Authority powers, duties, responsibilities, and authority.
Status: in_force

(A) The authority shall exercise all functions, powers, duties, responsibilities, and authority related to the issuance of bonds and bonding authority, in general found in Title 11 of the 1976 Code, but also contained in certain other provisions of South Carolina law, as exercised by the former Budget and Control Board prior to the effective date of Act 121 of 2014, R. 124, S. 22. (B) The authority shall exercise all functions, powers, duties, responsibilities, and authority, generally found in Title 11 of the 1976 Code, but also contained in certain other provisions of South Carolina law, exercised by the former Budget and Control Board related to grants, loans, and other forms of financial assistance to other entities. (C) Bonded indebtedness issued by the South Carolina Jobs—Economic Development Authority (JEDA) requires approval by the authority as provided in Chapter 43, Title 41. Bonded indebtedness issued pursuant to this item does not constitute nor give rise to a pecuniary liability to the State or a charge against the credit or taxing powers of the State.
S.C. Code Ann. § 11-42-30 — SC Code / Title 11 / Chapter 42 / Section 11-42-30
SECTION 11-42-30. Definitions.
Status: in_force

As used in this chapter: (1) "Board" means the governing board of the Rural Infrastructure Authority. (2) "County" means any county of this State. (3) "Division of Regional Development" is a division of the board. This division is be the designated state program for coordination of comprehensive state and regional infrastructure planning. (4) "Director" is the Director of the Division of Regional Development. (5) "Executive director" means the executive director of the board. (6) "Infrastructure" means the basic facilities, services, and installations needed for the functioning of government including, but not limited to, water, sewer, and public sector communications. Infrastructure as used in this chapter does not mean transportation, power delivery systems, health planning and delivery systems, or except for the purposes of public sector communications planning, commercial communication systems. (7) "Infrastructure Development Plans" means any written proposal by the State, county, municipality, special purpose district or regional council of government that involves development of infrastructure as defined in this chapter. These plans include, but are not limited to, such matters as water and sewerage systems, and communications. The plans must be proposed and prepared pursuant to recommended standards and procedures for the preparation and implementation of infrastructure development plans established in accordance with this chapter by the Division of Regional Development and the Regional Councils of Government. Any plan developed for communications must consider available existing private sector communications facilities, systems, and services. (8) "Municipality" as described in Section 5-1-20 means any city or town which has been issued a certificate of incorporation or which has been created by act of the General Assembly. (9) "Political subdivision" means any municipality, county, public service district, or special purpose district. (10) "Regional Councils of Government" are as described in Section 6-7-110. (11) "South Carolina Advisory Commission on Intergovernmental Relations" means the commission created pursuant to Section 1-27-10 which, as part of the office of the executive director of the board, researches intergovernmental problems. (12) "State Advisory Council for Regional Development" or "state council" means the Advisory Council for Regional Development created by this chapter. (13) "Communications" means public sector communications. Effect of Amendment 2014 Act No. 121, SECTION 7.W.1, in subsection (1), substituted "governing board of the Rural Infrastructure Authority" for "State Budget and Control Board".
S.C. Code Ann. § 11-5-450 — SC Code / Title 11 / Chapter 5 / Article 3 / Section 11-5-450
SECTION 11-5-450. Accounts not guaranteed by the State; rules and regulations.
Status: in_force

(A) Nothing in this article may create or be construed to create any obligation of the State Treasurer, the State, or any agency or instrumentality of the State to guarantee for the benefit of an account owner or designated beneficiary with respect to the: (1) return of principal; (2) rate of interest or other return on an account; or (3) payment of interest or other return on an account. (B) The State Treasurer may adopt rules and promulgate regulations to provide that each contract, application, or other similar document that may be used in connection with opening an account clearly indicates that the account is not insured by the State and that the principal deposited and the investment return are not guaranteed by the State. Editor's Note 2016 Act No. 165, SECTION 4, provides as follows: "SECTION 4. This act takes effect upon approval by the Governor and applies for tax years beginning after 2015." Effect of Amendment 2019 Act No. 88, SECTION 1, reenacted the section with no apparent change.
S.C. Code Ann. § 11-48-80 — SC Code / Title 11 / Chapter 48 / Section 11-48-80
SECTION 11-48-80. Certification of intention to comply with chapter; authority to promulgate regulations; recovery of investigation and litigation costs; relation to Chapter 47; severability.
Status: in_force

(A) A person must not be issued a license or granted a renewal of a license to act as a cigarette distributor unless the person has certified in writing, under penalty of perjury, that he intends to comply fully with this chapter. (B) For the year 2005, the first report of cigarette distributors required by Section 11-48-50(A) is due thirty days after the effective date of this chapter; the certifications by a tobacco product manufacturer described in Section 11-48-30(A) are due forty-five days after the effective date of this chapter; and the directory described in Section 11-48-30(B) must be published or made available within ninety days after the effective date of this chapter. (C) The Attorney General may promulgate regulations necessary to effect the purposes of this chapter. (D) In any action brought by the State to enforce this chapter, the Office of the Attorney General is entitled to recover the costs of investigation, expert witness fees, costs of the action, and reasonable attorney fees for a successful investigation or action. (E) Unless otherwise expressly provided, the remedies or penalties provided by this chapter are cumulative to each other and to the remedies or penalties available under all other laws of this State. (F) If a court of competent jurisdiction finds that the provisions of this chapter and Chapter 47 conflict and cannot be harmonized, then the provisions of Chapter 47 must control. If any section, paragraph, item, or subitem, sentence, clause, or phrase of this chapter causes Chapter 47 of Title 11 to no longer constitute a Qualifying or Model Statute, as those terms are defined in the Master Settlement Agreement, then that portion of this chapter is invalid. If any section, paragraph, item, subitem, subsubitem, sentence, clause, or phrase of this chapter is held to be invalid, unlawful, or unconstitutional, that decision does not affect the validity of the remaining portions of this chapter or any part of it.
S.C. Code Ann. § 11-43-160 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-160
SECTION 11-43-160. Sources for capitalization and purposes of bank; use of state highway account revenues.
Status: in_force

(A) The following sources may be used to capitalize the bank and for the bank to carry out its purposes: (1) an annual contribution set by the board of an amount not to exceed revenues produced by one cent a gallon of the tax on gasoline imposed pursuant to Section 12-28-310; (2) federal funds made available to the State; (3) federal funds made available to the State for the bank; (4) contributions and donations from government units, private entities, and any other source as may become available to the bank including, but not limited to, appropriations from the General Assembly; (5) all monies paid or credit to the bank, by contract or otherwise, payments of principal and interest on loans or other financial assistance made from the bank, and interest earnings which may accrue from the investment or reinvestment of the bank's monies; (6) proceeds from the issuance of bonds as provided in this chapter; (7) other lawful sources as determined appropriate by the board; and (8) loans from the Department of Transportation to the bank to be repaid from revenues committed to the bank for the following year. (B) Beginning in fiscal year 1998-99, the revenues collected pursuant to Sections 56-3-660 and 56-3-670 and placed in the state highway account, as created by this chapter, must be used to provide capital for the bank.
S.C. Code Ann. § 11-43-200 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-200
SECTION 11-43-200. Exemption from taxes or assessments.
Status: in_force

The bank is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligations acquired or used by the bank or upon the income from them.
S.C. Code Ann. § 11-5-280 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-280
SECTION 11-5-280. Acceptance of credit cards by state agencies.
Status: in_force

The State Treasurer may enter into contracts allowing a state agency or institution to accept credit cards as payment for goods or services provided.
S.C. Code Ann. § 11-43-120 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-120
SECTION 11-43-120. Creation of South Carolina Transportation Infrastructure Bank; board of directors; corporate purpose; accounts.
Status: in_force

(A) There is created a body corporate and politic and an instrumentality of the State to be known as the South Carolina Transportation Infrastructure Bank. (B) The bank is governed by a board of directors as provided in this chapter. (C) The corporate purpose of the bank is to select and assist in financing major qualified projects by providing loans and other financial assistance to government units and private entities for constructing and improving highway and transportation facilities necessary for public purposes including economic development. The exercise by the bank of a power conferred in this chapter is an essential public function. (D) The bank shall establish and maintain at least the four following accounts: state highway account, state transit account, federal highway account, and federal transit account.
S.C. Code Ann. § 11-43-340 — SC Code / Title 11 / Chapter 43 / Article 3 / Section 11-43-340
SECTION 11-43-340. Bonds authorized by resolution; execution; payability; other provisions; interest; public or private sale, price; time of issuance.
Status: in_force

The bonds of the bank must be authorized by a resolution of the bank. The bonds must bear the date and mature at the time which the resolution provides, except that no bond may mature more than forty years from its date of issue. The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the bank prior to their issuance. The bonds may bear interest payable at a time and at a rate as determined by the bank, including the determination by agents designated by the bank under guidelines established by it. Bonds may be sold by the bank at public or private sale at the price it determines and approves. The State Treasurer shall issue the bonds of the bank not later than sixty days upon the resolution of the bank authorizing the issuance of the bonds.
S.C. Code Ann. § 11-43-630 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-630
SECTION 11-43-630. Application of proceeds.
Status: in_force

The proceeds derived from the sale of transportation infrastructure bonds must be applied only to the purposes set forth in the resolution of the state board pursuant to which the bonds are issued.
S.C. Code Ann. § 11-37-45 — SC Code / Title 11 / Chapter 37 / Section 11-37-45
SECTION 11-37-45. Funds; transfer of personnel.
Status: in_force

The authority may receive funds from whatever source to use for the operation of the authority, but it may not receive funds appropriated specifically for the authority after July 1, 1989. Nothing in this section prohibits the transfer of personnel to the authority from other state agencies.
S.C. Code Ann. § 11-35-5270 — SC Code / Title 11 / Chapter 35 / Article 21 / Section 11-35-5270
SECTION 11-35-5270. Division of Small and Minority Business Contracting and Certification.
Status: in_force

The Division of Small and Minority Business Contracting and Certification must be established within the Department of Administration to assist the Department of Administration and the Department of Revenue in carrying out the intent of this article. The responsibilities of the division include, but are not limited to, the following: (1) assisting the chief procurement officers and governmental bodies in developing policies and procedures which will facilitate awarding contracts to small and minority firms; (2) assisting the chief procurement officers in aiding small and minority-owned firms and community-based business in developing organizations to provide technical assistance to minority firms; (3) assisting with the procurement and management training for small and minority firm owners; (4) assisting in the identification of responsive small and minority firms; (5) receiving and processing applications to be registered as a minority firm in accordance with Section 11-35-5230(B); (6) revoking the certification of any firm that has been found to have engaged in any of the following: (a) fraud or deceit in obtaining the certification; (b) furnishing of substantially inaccurate or incomplete information concerning ownership or financial status; (c) failure to report changes which affect the requirements for certification; (d) gross negligence, incompetence, financial irresponsibility, or misconduct in the practice of his business; or (e) wilful violation of any provision of this article. (7) After a period of one year, the division may reissue a certificate of eligibility provided acceptable evidence has been presented to the commission that the conditions which caused the revocation have been corrected. Effect of Amendment 2014 Act No. 121, SECTION 7.V, rewrote the section.
S.C. Code Ann. § 11-41-150 — SC Code / Title 11 / Chapter 41 / Section 11-41-150
SECTION 11-41-150. Application of proceeds; liability of purchasers for misapplication.
Status: in_force

The proceeds of the sale of bonds must be received by the State Treasurer and applied by the State Treasurer to the purposes for which issued, except that the accrued interest, if any, may be used to discharge in part the first interest to become due on the bonds, but the purchasers of the bonds in no way are liable for the proper application of the proceeds to the purposes for which they are intended.
S.C. Code Ann. § 11-7-30 — SC Code / Title 11 / Chapter 7 / Section 11-7-30
SECTION 11-7-30. Audit reports.
Status: in_force

Reports of audit findings must be available to the Governor, State Fiscal Accountability Authority, General Assembly, and the general public. The State Auditor shall notify the Governor, the General Assembly, and the State Fiscal Accountability Authority immediately upon the issuance of an audit report. Effect of Amendment 2014 Act No. 121, SECTION 7.S.2, twice substituted "State Fiscal Accountability Authority" for "Budget and Control Board", and made other nonsubstantive changes.
S.C. Code Ann. § 11-43-590 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-590
SECTION 11-43-590. Issuance as fully registered bonds; transfer.
Status: in_force

Transportation infrastructure bonds must be issued as fully registered bonds with both principal and interest thereof made payable only to the registered holder. Such fully registered bonds are subject to transfer under such conditions as the state board prescribes.
S.C. Code Ann. § 11-58-80 — SC Code / Title 11 / Chapter 58 / Section 11-58-80
SECTION 11-58-80. Administrative operations of board; annual budget.
Status: in_force

(A) The State Fiscal Accountability Authority is solely responsible for all administrative operations of the South Carolina Opioid Recovery Fund Board. Administrative operations may include, but are not limited to, finance, human resources, procurement, clerical, and associated support services. The authority's executive director shall employ and supervise personnel necessary to provide any required administrative operations. The authority's executive director is authorized to pay for and receive from other state and local agencies and departments such services as will in his opinion promote the efficient and economical provision of administrative operations to the board. The authority will not provide legal services to the board or its staff. The board must retain ultimate responsibility and provide proper oversight for the implementation of this chapter. (B) The State Fiscal Accountability Authority shall receive compensation for expenses incurred in providing administrative operations to the South Carolina Opioid Recovery Fund Board from the Administrative Subfund. With the approval of the board, staff of the authority shall enter into contracts and agreements on behalf of the board to implement this chapter. The Administrative Subfund may be used to satisfy any obligations of the board pursuant to such contracts and agreements. (C) When attending meetings that require travel, members of the South Carolina Opioid Recovery Fund Board and staff assigned to the board by the authority or the Attorney General may receive the usual rate for mileage, subsistence, and per diem as provided by law for members of state boards, committees, and commissions and may be reimbursed for actual and necessary expenses incurred in connection with and as a result of their work as members of the board or support for the members of the board. The board, within the limits set by the Comptroller General, shall establish reimbursement standards for travel and other expenses incurred in aid of the board's official duties. Compensation and reimbursements paid under this subsection shall be paid from the Administrative Subfund. (D) The Attorney General shall designate an attorney within the Office of Attorney General to attend all South Carolina Opioid Recovery Fund Board meetings, to provide all necessary legal services to the board, to ensure that funds within the South Carolina Opioid Recovery Fund are spent only on approved abatement strategies, and to ensure that the board complies with all applicable laws, settlement agreements, and court orders. (E) The South Carolina Opioid Recovery Fund Board shall prepare and publish an annual budget for administrative costs and expenses and publish an annual report of these expenditures. The annual budget may be amended as necessary. (F) The South Carolina Opioid Recovery Fund Board shall be considered "qualified personnel for the purpose of bona fide research or education" for the purpose of Section 44-53-1650, and the Department of Health and Environmental Control shall enter into a written agreement with the board to enable the sharing of prescription information with appropriate redactions.
S.C. Code Ann. § 11-17-100 — SC Code / Title 11 / Chapter 17 / Section 11-17-100
SECTION 11-17-100. Application of proceeds of bonds to payment of notes.
Status: in_force

Upon delivery of the bonds in anticipation of which a note or notes pursuant to this chapter have been issued, sufficient of the proceeds of such bonds shall be applied by the borrower to meet the payment of the principal and interest of such notes, unless the stated maturity of the notes shall be subsequent to the date as of which such bonds are issued; but, in all such instances, upon the delivery of the bonds, sufficient of the proceeds thereof shall be deposited in an irrevocable trust with the paying agent of the notes, or other financial institution, for the payment of the principal and interest of the notes upon their stated maturity.
S.C. Code Ann. § 11-35-3840 — SC Code / Title 11 / Chapter 35 / Article 15 / Section 11-35-3840
SECTION 11-35-3840. Licensing for public sale of certain publications and materials.
Status: in_force

The Division of Procurement Services may license for public sale publications, including South Carolina Business Opportunities, materials pertaining to training programs, and information technology products that are developed during the normal course of its activities. The items must be licensed at reasonable costs established in accordance with the cost of the items. All proceeds from the sale of the publications and materials must be deposited in the State Treasury in a special account and expended only for the costs of providing the goods and services, and such funds may be retained and expended for the same purposes. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2014 Act No. 121, SECTION 7.U, substituted "The division" for "The State Budget and Control Board", and substituted "normal course of its activities" for "normal course of the board's activities". 2019 Act No. 41, SECTION 54, in the first sentence, substituted "Division of Procurement Services" for "division", and rewrote the third sentence.
S.C. Code Ann. § 11-25-650 — SC Code / Title 11 / Chapter 25 / Article 9 / Section 11-25-650
SECTION 11-25-650. Distribution of copies of publications to University of South Carolina Law Library.
Status: in_force

(A) The officials charged with distribution of these publications shall deliver to the law library of the University of South Carolina not later than thirty days after they are printed, from time to time, the following number of these publications in addition to those otherwise required by law to be delivered to the law library: (1) five copies of the acts and joint resolutions of the General Assembly; (2) twenty-five copies of the proceedings of any constitutional convention of this State; (3) five copies of the Code; and (4) five copies of the reports of the Supreme Court. (B) The officials of the law library of the University of South Carolina shall exchange all or any part of these publications for publications relating to government useful to students of law and public officials and shall catalogue and arrange the material to make it serviceable to members of the General Assembly.
S.C. Code Ann. § 11-11-190 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-190
SECTION 11-11-190. Transfer of funds to offset deficits.
Status: in_force

(A) At the close of the state's 2003-2004 fiscal year, the State Treasurer is directed to transfer an amount up to fifty million dollars from the General Reserve Fund to partially offset the fiscal year 2001-2002 accumulated general fund operating deficit. (B) To the extent balances in the Capital Reserve Fund for fiscal years 2004-2005 and 2005-2006 are available for appropriation by the General Assembly, as provided in Section 36(B)(2), Article III of the Constitution of this State and Section 11-11-320, it is the intent of the General Assembly to offset any remaining fiscal year 2001-2002 accumulated operating deficit in an amount not to exceed fifty million dollars in fiscal year 2004-2005 and fifty-five million dollars in fiscal year 2005-2006, if so much is necessary, as the first order of priority in the appropriation of the Capital Reserve Fund for the respective fiscal years. (C) The General Assembly declares that the term "other nonrecurring purposes" pursuant to Section 36(B)(2), Article III of the Constitution of this State includes operating deficits from previous fiscal years.
S.C. Code Ann. § 11-7-25 — SC Code / Title 11 / Chapter 7 / Section 11-7-25
SECTION 11-7-25. Periodic audits of county and municipal treasurers, county court clerks, magistrates, and municipal courts as to imposition, collection, and remittance of fines and assessments.
Status: in_force

To the extent practicable and consistent with his overall responsibility, the State Auditor periodically shall audit or cause to be audited the financial records of the county treasurers, municipal treasurers, county clerks of court, magistrates, and municipal courts to report if fines and assessments imposed pursuant to Sections 14-1-205 through 14-1-208 are collected properly and remitted to the State Treasurer. Upon the issuance of an audit report, the State Auditor immediately shall notify the State Treasurer, Division of Court Administration, and the chief administrator of the affected agency, department, county, or municipality.
S.C. Code Ann. § 11-35-20 — SC Code / Title 11 / Chapter 35 / Article 1 / Section 11-35-20
SECTION 11-35-20. Purpose and policies.
Status: in_force

(1) This code must be construed and applied to promote underlying purposes and policies. (2) The underlying purposes and policies of this code are: (a) to provide increased economy in state procurement activities and to maximize to the fullest extent practicable the purchasing values of funds while ensuring that procurements are the most advantageous to the State and in compliance with the provisions of the Ethics Government Accountability and Campaign Reform Act; (b) to foster effective broad-based competition for public procurement within the free enterprise system; (c) to develop procurement capability responsive to appropriate user needs; (d) to consolidate, clarify, and modernize the law governing procurement in this State and permit the continued development of explicit and thoroughly considered procurement policies and practices; (e) to require the adoption of competitive procurement laws and practices by units of state and local governments; (f) to ensure the fair and equitable treatment of all persons who deal with the procurement system which will promote increased public confidence in the procedures followed in public procurement; (g) to provide safeguards for the maintenance of a procurement system of quality and integrity with clearly defined rules for ethical behavior on the part of all persons engaged in the public procurement process; and (h) to develop an efficient and effective means of delegating roles and responsibilities to the various government procurement officers. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 1, inserted (1), and inserted the (2) identifier in the previously undesignated paragraph.
S.C. Code Ann. § 11-19-20 — SC Code / Title 11 / Chapter 19 / Section 11-19-20
SECTION 11-19-20. Borrowing in anticipation of federal grant authorized; debt evidenced by note; form and terms of note.
Status: in_force

Any borrower which is entitled to any grant may, pending the receipt thereof, but within the limitation set forth in this chapter, borrow from any person and evidence the debt so incurred by a note or other written obligation executed by the officers of the borrower and containing such terms and provisions as may be prescribed by the governing body of the borrower. Such note shall be expressed to mature not later than the occasion on which the proceeds of the grant are expected to be received and shall pledge for the payment of the principal and interest therefor the proceeds of such grant and in addition thereto may pledge the full faith, credit and taxing power of the borrower.
S.C. Code Ann. § 11-35-3810 — SC Code / Title 11 / Chapter 35 / Article 15 / Section 11-35-3810
SECTION 11-35-3810. Regulations for sale, lease, transfer and disposal.
Status: in_force

Subject to existing provisions of law, the board shall promulgate regulations governing: (1) the sale, lease, or disposal of surplus supplies by public auction, competitive sealed bidding, or other appropriate methods designated by such regulations; (2) the transfer of excess supplies between agencies and departments.
S.C. Code Ann. § 11-51-100 — SC Code / Title 11 / Chapter 51 / Section 11-51-100
SECTION 11-51-100. Issuance of general obligation debt or anticipation notes.
Status: in_force

Following the receipt of the information presented pursuant to Section 11-51-80, and after approval by the Joint Bond Review Committee, the state board, by resolution duly adopted, shall effect the issuance of general obligation debt, or pending the issuance of the general obligation debt, effect the issuance of general obligation debt anticipation notes pursuant to Chapter 17 of this title.
S.C. Code Ann. § 11-58-10 — SC Code / Title 11 / Chapter 58 / Section 11-58-10
SECTION 11-58-10. Short title; purpose.
Status: in_force

(A) This act may be cited as the "South Carolina Opioid Recovery Act". (B) The purpose of this act is to ratify and implement the necessary terms of certain opioid-related settlements entered into by the State of South Carolina and its participating political subdivisions by: (1) creating the South Carolina Opioid Recovery Fund from which money will be distributed to help address and remediate opioid-related issues; (2) creating the South Carolina Opioid Recovery Fund Board to administer and distribute money in the South Carolina Opioid Recovery Fund; and (3) barring future claims by state and local governmental entities against certain companies which have entered into opioid-related settlements with the State of South Carolina.
S.C. Code Ann. § 11-9-840 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-840
SECTION 11-9-840. Revenue and Fiscal Affairs Office established.
Status: in_force

(A) There is established the Revenue and Fiscal Affairs Office to be governed by the three appointed members of the Board of Economic Advisors pursuant to Section 11-9-1110. The three appointed members of the board shall unanimously select an Executive Director of the Revenue and Fiscal Affairs Office who shall serve a four-year term. The executive director only may be removed for malfeasance, misfeasance, incompetency, absenteeism, conflicts of interest, misconduct, persistent neglect of duty in office, or incapacity as found by the board. The executive director shall have the authority and perform the duties prescribed by law and as may be directed by the board. The functions of the office must be performed, exercised, and discharged under the supervision and direction of the board. The board may organize its staff as it considers appropriate to carry out the various duties, responsibilities, and authorities assigned to it without the requirement of establishing separate divisions. The board may delegate to one or more officers, agents, or employees the powers and duties it determines are necessary for the effective and efficient operation of the office. (B) The Department of Administration shall provide such administrative support to the Revenue and Fiscal Affairs Office as they may request and require in the performance of their duties including, but not limited to, financial management, human resources management, information technology, procurement services, and logistical support. Editor's Note Prior Laws: Former SECTION 11-9-840 was titled Procedures relative to changes in revenue or expenditure forecast or projection; adjustments in appropriations or requests; meetings of board; board as official state voice on economic matters, and had the following history: 1982 Act No. 466, Part II, SECTION 44; 1992 Act No. 501, Part II, SECTION 13C. See now, Code 1976 SECTION 11-9-1120. Effect of Amendment 2018 Act No. 246, SECTION 2, rewrote (A), and in (B), deleted "or any of its divisions or components" following "Revenue and Fiscal Affairs Office".
S.C. Code Ann. § 11-5-440 — SC Code / Title 11 / Chapter 5 / Article 3 / Section 11-5-440
SECTION 11-5-440. Opening of account by designated beneficiary; contributions; account owner powers; distributions; accounting; tax exemption.
Status: in_force

(A) A Palmetto ABLE account established pursuant to the provisions of this article must be opened by a designated beneficiary, a designated beneficiary's agent under a durable power of attorney, a trustee holding funds for the benefit of a designated beneficiary, or a court appointed guardian or conservator of a designated beneficiary. Each designated beneficiary may have only one account. The State Treasurer may establish a nonrefundable application fee. An application for an account must be in the form prescribed by the State Treasurer and contain the following: (1) name, address, and social security number of the account owner; (2) name, address, and social security number of the designated beneficiary, if the account owner is the beneficiary's trustee or guardian; (3) certification relating to no excess contributions; and (4) additional information as the State Treasurer may require. (B) A person may make contributions to a Palmetto ABLE account after the account is opened, subject to the limitations imposed by Section 529A of the federal Internal Revenue Code of 1986, as amended, or any adopted rules and regulations promulgated by the State Treasurer pursuant to this article. (C) Contributions to a Palmetto ABLE account may be made only in cash. The State Treasurer or program manager shall reject or withdraw contributions promptly: (1) in excess of the limits established pursuant to subsection (B); or (2) the total contributions if the: (a) value of the account is equal to or greater than the account maximum established by the State Treasurer. The account maximum must be equal to the account maximum for post secondary education savings accounts; or (b) designated beneficiary is not an eligible individual in the current calendar year. (D)(1) An account owner may: (a) change the designated beneficiary of an account to an individual who is a qualified member of the family of the prior designated beneficiary in accordance with procedures established by the State Treasurer; and (b) transfer all or a portion of an account to another ABLE account, the designated beneficiary of which is a member of the family as defined in Section 529A of the federal Internal Revenue Code of 1986, as amended. (2) An account owner may not use an interest in an account as security for a loan. A pledge of an interest in an account is of no effect. (E)(1) If there is any distribution from an account to an individual or for the benefit of an individual during a calendar year, the distribution must be reported to the federal Internal Revenue Service and each account owner, the designated beneficiary, or the distributee to the extent required by state or federal law. (2) A statement must be provided to each account owner annually and at other increments established by the State Treasurer in the program guidelines. The statement must contain the information the State Treasurer requires to be reported to the account owner. (3) A statement and information relating to an account must be prepared and filed to the extent required by this article and other state or federal law. (F)(1) The program shall provide separate accounting for each designated beneficiary. An annual fee may be imposed upon the account owner for the maintenance of an account. (2) Funds held in a Palmetto ABLE account: (a) are exempt from attachment, execution, or garnishment for claims of creditors of the contributor and the designated beneficiary; (b) to the fullest extent permissible under state and federal law, will be disregarded for the purposes of determining a designated beneficiary's eligibility to receive, or the amount of, any public assistance available to the designated beneficiary, including Medicaid; and (c) following the death of a designated beneficiary, may be subject to recovery by the South Carolina Department of Health and Human Services up to an amount equal to the total of Medicaid benefits, if any, paid on behalf of the designated beneficiary by the state Medicaid program, but only to the extent recovery is required by state or federal law. Recovery by the State is subject to regulations imposed by the Secretary. (3) The amount distributed from a Palmetto ABLE account for the purposes of paying qualified disability expenses: (a) are exempt from attachment, execution, or garnishment for claims of creditors of the contributor and the designated beneficiary; and (b) to the fullest extent permissible under state and federal law, will be disregarded for the purposes of determining a designated beneficiary's eligibility to receive, or the amount of, any public assistance available to the designated beneficiary, including Medicaid. (G) To the extent earnings in an ABLE account and distributions from an ABLE account, or a qualified account under Section 529A located in another state, are not subject to federal income tax, they will not be subject to state income tax. Editor's Note 2016 Act No. 165, SECTION 4, provides as follows: "SECTION 4. This act takes effect upon approval by the Governor and applies for tax years beginning after 2015." Effect of Amendment 2019 Act No. 88, SECTION 1, in (A), in the first sentence, substituted "A Palmetto ABLE account" for "An ABLE savings account" and made a nonsubstantive change; in (B), substituted "a Palmetto ABLE account" for "an ABLE savings account"; in (C), substituted "a Palmetto ABLE account" for "an ABLE savings account", and in (2)(a), made a nonsubstantive change; in (D)(1)(b), substituted "ABLE account" for "ABLE savings account"; in (F), in (2) and (3), substituted "a Palmetto ABLE account" for "an ABLE savings account"; and in (G), substituted "ABLE account" for "ABLE savings account" in two places.
S.C. Code Ann. § 11-57-300 — SC Code / Title 11 / Chapter 57 / Article 3 / Section 11-57-300
SECTION 11-57-300. Investment activities in Iran.
Status: in_force

For purposes of this chapter, a person engages in investment activities in Iran if: (1) the person provides goods or services of twenty million dollars or more in the energy sector of Iran, including a person that provides oil or liquefied natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquefied natural gas, for the energy sector of Iran; or (2) the person is a financial institution that extends twenty million dollars or more in credit to another person, for forty-five days or more, if that person will use the credit to provide goods or services in the energy sector in Iran and is identified on a list, created pursuant to Section 11-57-310, as a person engaging in investment activities in Iran as described in this section.
S.C. Code Ann. § 11-9-1110 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-1110
SECTION 11-9-1110. Board of Economic Advisors; membership and appointment; reporting; staffing.
Status: in_force

(A)(1) There is created the Board of Economic Advisors as follows: (a) one member, appointed by, and serving at the pleasure of the Governor, who shall serve as chairman and shall receive annual compensation of ten thousand dollars; (b) one member appointed by, and serving at the pleasure of the Chairman of the Senate Finance Committee, who shall receive annual compensation of eight thousand dollars; (c) one member appointed by, and serving at the pleasure of the Chairman of the Ways and Means Committee of the House of Representatives, who shall receive annual compensation of eight thousand dollars; (d) the Director of the Department of Revenue, who shall serve ex officio, with no voting rights. (2) The Revenue and Fiscal Affairs Office shall provide for the staffing and administrative support of the board. (B) The chairman of the board shall report directly to the Governor, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee to establish policy governing economic trend analysis. The office shall provide for the staffing and administrative support of the board from funds appropriated by the General Assembly. (C) The executive director shall assist the Governor, chairman of the board, Chairman of the Senate Finance Committee, and Chairman of the Ways and Means Committee of the House of Representatives in providing an effective system for compiling and maintaining current and reliable economic data. The office, upon approval by the board, may establish an advisory board to assist in carrying out its duties and responsibilities. All state agencies, departments, institutions, and divisions shall provide the information and data the advisory board requires. The board is considered a public body for purposes of the Freedom of Information Act, pursuant to Section 30-4-20(a). (D) The Department of Commerce shall provide to the office by November tenth the public document prepared pursuant to Section 12-10-100(C) itemizing each revitalization agreement concluded during the previous calendar year. The Department of Revenue shall provide to the office by November tenth a report of the amount of each tax credit claimed in the previous tax year pursuant to Title 12. The report must list individually the amount claimed and the number of filings for each tax credit. The Department of Revenue also must provide to the office by November tenth data files containing data from all state individual and corporate income tax filings from the previous tax year, excluding confidential identifying information. Editor's Note Prior Laws: Former SECTION 11-9-1110 was titled Revenue and Fiscal Affairs Office established, and had the following history: 2014 Act No. 121 (S.22), Pt VI, SECTION 8.A, eff July 1, 2014. See now, Code 1976 SECTION 11-9-840. Effect of Amendment 2014 Act No. 121, SECTION 8.B, rewrote subsection (A); in subsection (B), substituted "Governor, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee" for "Budget and Control Board"; and in subsection (C), substituted "Revenue and Fiscal Affairs Office" for "Budget and Control Board". 2018 Act No. 246, SECTION 2, rewrote the section.
S.C. Code Ann. § 11-40-260 — SC Code / Title 11 / Chapter 40 / Section 11-40-260
SECTION 11-40-260. Chapter to be liberally construed; approval of bonds not required; provisions of Chapter control.
Status: in_force

This chapter, being for the welfare of this State and its inhabitants, must be liberally construed to effect the purposes specified in this chapter. No proceeding, notice, or approval is required for the issuance of bonds of the authority or loan obligations by a local government or instruments or the security for the bonds or loan obligation, except as provided in this chapter. If the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter control.
S.C. Code Ann. § 11-15-490 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-490
SECTION 11-15-490. Negotiability; registration.
Status: in_force

All such refunding bonds shall be in the form of negotiable coupon bonds, payable to bearer, but may contain provisions granting to the holder the privilege of having them registered on the books of the treasurer of the issuer and the principal thus made payable to the registered holder (unless the last registered transfer shall have been to bearer) upon such conditions as the governing body may prescribe. Unless registered such bonds shall have all the qualities of negotiable instruments under the law merchant and the Uniform Commercial Code.
S.C. Code Ann. § 11-51-120 — SC Code / Title 11 / Chapter 51 / Section 11-51-120
SECTION 11-51-120. Maturity, payment, and interest rates.
Status: in_force

The general obligation debt must bear the date and mature at the time that the state board resolution provides, except that the general obligation debt may not mature more than thirty years from its date of issue. The general obligation debt may be in the denominations, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the state board before its issue. The general obligation debt may bear interest payable at the times and at the rates determined by the state board.
S.C. Code Ann. § 11-7-55 — SC Code / Title 11 / Chapter 7 / Section 11-7-55
SECTION 11-7-55. Use of services of independent public accountants.
Status: in_force

The State Auditor may obtain the services of independent public accountants as he considers necessary to carry out his duties and responsibilities. The State Auditor may use funds appropriated for personal services to contract with private firms, using a request for proposals, to perform audits.
S.C. Code Ann. § 11-15-260 — SC Code / Title 11 / Chapter 15 / Article 3 / Section 11-15-260
SECTION 11-15-260. Choice of investments.
Status: in_force

If bonds of the issue for which the sinking fund is established are offered at a price not in excess of par and accrued interest or at a price not in excess of the lowest price at which the bonds of any other political subdivision of this State are offered, then the sinking fund shall be invested in such bonds. Otherwise it shall be invested in such other bonds as are offered at the lowest price, due regard being had, however, to the legality of such issue and the solvency of the maker or, in the discretion of the custodian, in bonds of the United States of America or of this State. In the purchase of bonds the custodian shall, if possible, purchase bonds with maturities coincident, or as nearly as possible coincident, with the maturities of the bonds for which the sinking fund was established.
S.C. Code Ann. § 11-55-30 — SC Code / Title 11 / Chapter 55 / Section 11-55-30
SECTION 11-55-30. Matters referred to and decided by authority.
Status: in_force

In the course of conducting and managing state affairs where a matter arises which would under prior precedents and practices be referred to the former Budget and Control Board for decision, although the procedure for the decision is not specifically provided for by general law, the matter instead shall be referred to and decided by the authority.
S.C. Code Ann. § 11-41-20 — SC Code / Title 11 / Chapter 41 / Section 11-41-20
SECTION 11-41-20. Increase in general obligation debt limitation.
Status: in_force

As incident to this chapter, the General Assembly finds: (1) That by Section 4, Act 10 of 1985, the General Assembly ratified an amendment to Section 13(6)(c), Article X of the Constitution of this State, 1895. One amendment in Section 13(6)(c), Article X, limits the issuance of general obligation debt of the State such that maximum annual debt service on all general obligation bonds of the State, excluding highway bonds, state institution bonds, tax anticipation notes, and bond anticipation notes, must not exceed five percent of the general revenues of the State for the fiscal year next preceding, excluding revenues which are authorized to be pledged for state highway bonds and state institution bonds. (2) That Section 13(6)(c), Article X, further provides that the percentage rate of general revenues of the State by which general obligation bond debt service is limited may be reduced to four or increased to seven percent by legislative enactment passed by a two-thirds vote of the total membership of the Senate and a two-thirds vote of the total membership of the House of Representatives. (3) That pursuant to Section 13(6)(c), Article X, the General Assembly, in Act 254 of 2002 and Act 187 of 2004, increased to five and one-half percent the percentage rate of the general revenues of the State by which general obligation bond debt service is limited with the additional debt service capacity available at any time as a consequence of the increase available only for the repayment of general obligation bonds issued to provide infrastructure required for significant economic development projects within the State, including those related to the life sciences industry that create high-paying jobs and meet certain investment criteria. (4) That pursuant to Section 13(6)(c), Article X, the General Assembly, in Act 187 of 2004, increased to six percent the percentage rate of the general revenues of the State by which general obligation bond debt service is limited with the additional debt service capacity available at any time as a consequence of the increase available only for the repayment of general obligation bonds issued to advance economic development and to facilitate and increase research within the State at the research universities. (5) That Section 13(5), Article X, provides that if general obligation debt be authorized by two-thirds of the members of each House of the General Assembly, then there shall be no conditions or restrictions limiting the incurring of such indebtedness except those restrictions and limitations imposed in the authorization to incur such indebtedness, and the provisions of Section 13(3), Article X. (6) That Section 13(5), Article X, provides additional constitutional authority for bonds authorized by this chapter. (7) In order to continue fostering economic development within the State as set out in subsections (3) and (4), it is in the best interest of the State that the General Assembly authorize an additional amount of general obligation debt pursuant to Section 13(5), Article X, with such indebtedness limited to a principal amount of general obligation debt not exceeding one hundred seventy million dollars at any time, provided that no more than a total of one hundred seventy million dollars of proceeds may be used for any one project regardless of available capacity. (8) That in order to support significant economic development projects in this State which will satisfy the investment and new jobs creation criteria set forth in Section 11-41-30(2)(a)(ii), the General Assembly finds that sufficient debt service capacity exists below the original five percent threshold established by Section 13(6)(c), Article X, to allow the issuance of general obligation debt, with such indebtedness limited to a principal amount of general obligation debt not to exceed one hundred twenty million dollars, and that the authorization of this general obligation debt supports a public purpose and is in the best interest of the State. Validity For the validity of (2) of this section, see Pinckney v. Peeler, 862 S.E.2d 906 (S.C. 2021). Editor's Note 2013 Act No. 13, SECTION 1, provides as follows: "SECTION 1. The General Assembly hereby finds, as a fact, that the construction of infrastructure, as defined in, and subject to the terms and conditions of, the State General Obligation Economic Development Bond Act, for use by private parties enhances the recruitment of businesses to the State and the expansion of businesses within the State, facilitates the operation and growth of businesses in the State, and thereby provides significant and substantial direct and indirect benefits to the State and its residents, including employment and other opportunities; that such benefits outweigh the costs of such infrastructure; that for such reasons it is in the best interest of the State to authorize the issuance of economic development bonds as defined in, and subject to the terms and conditions of, the State General Obligation Economic Development Bond Act; and that such economic development bonds, issued for such purpose, serve a public purpose in fostering economic development and increasing employment in the State. The General Assembly further finds, as a fact, that the primary beneficiaries of the issuance of such economic development bonds and the construction of such infrastructure are the State of South Carolina and its residents." Effect of Amendment The 2013 amendment added subsection (8), relating to Section 11-41-30, and made other nonsubstantive changes.
S.C. Code Ann. § 11-56-80 — SC Code / Title 11 / Chapter 56 / Section 11-56-80
SECTION 11-56-80. Contracts with statewide microlending support organization.
Status: in_force

If the department enters into a contractual relationship with a statewide microlending support organization, the contract must state that: (1) authorized funds granted to the statewide microlending support organization must be matched by the organization with nonstate funds equivalent in money or in kind equal to one dollar for each one dollar of the grant funds requested; these matching funds may be secured from any nonstate source, including private foundations, federal or local government sources, quasigovernmental entities, or financial institutions or any other entity whose funding source does not include funds appropriated by the General Assembly; (2) if awarding grants, the statewide microlending support organization shall award and administer the grants in accordance with the purposes of and in compliance with this chapter; and (3) no greater than ten percent of authorized or contracted funds may be used for operating or administering the grant program.
S.C. Code Ann. § 11-3-120 — SC Code / Title 11 / Chapter 3 / Section 11-3-120
SECTION 11-3-120. Comptroller General to inspect vouchers of State Treasurer.
Status: in_force

The Comptroller General shall between the first and tenth day of each month examine the vouchers in the office of the State Treasurer for all payments made by the Treasurer during the preceding month.
S.C. Code Ann. § 11-56-50 — SC Code / Title 11 / Chapter 56 / Section 11-56-50
SECTION 11-56-50. Criteria for awarding grants.
Status: in_force

In developing criteria for awarding grants to microloan delivery organizations, the department shall consider the organization's: (1) plan for providing business development services and microloans to microenterprises; (2) plan for securing loan assistance from financial institutions; (3) plan for coordinating the services and loans provided by the microloan delivery organization with loans from financial institutions; (4) scope of services to be provided; (5) ability to provide business development in areas of chronic economic distress and low-income regions of the State; (6) area of the State to be served, with consideration being given to achieving equitable geographic distribution in awarding grants to areas of the State in need, including rural and urban communities and neighborhoods; (7) ability to provide business training and technical assistance to microenterprise clients; (8) ability to monitor and provide financial oversight of microloan recipients; and (9) sources and sufficiency of operating funds.
S.C. Code Ann. § 11-58-50 — SC Code / Title 11 / Chapter 58 / Section 11-58-50
SECTION 11-58-50. Guaranteed Political Subdivision Subfund.
Status: in_force

(A) The State Treasurer shall establish the Guaranteed Political Subdivision Subfund within the South Carolina Opioid Recovery Fund. (B) The South Carolina Opioid Recovery Fund Board shall authorize payments from the Guaranteed Political Subdivision Subfund to requesting entities, if all of the following requirements are met: (1) the request complies with all application requirements set out by the board; (2) the request is for an approved abatement strategy; (3) the request is made by the governing body of a participating political subdivision or another entity with written authorization from the governing body of a participating political subdivision; and (4) sufficient funds to pay the request are in the Guaranteed Political Subdivision Subfund and set aside for use by that participating political subdivision. (C) If the board denies a request under this section, it promptly shall notify the participating political subdivision that requested or authorized the request for funds and provide its grounds for denying the request. (D) Any legal challenge to a decision of the South Carolina Opioid Recovery Fund Board denying payment from the Guaranteed Political Subdivision Subfund must be brought as a declaratory judgment action in the court of common pleas in Richland County by the participating political subdivision directly.
S.C. Code Ann. § 11-9-210 — SC Code / Title 11 / Chapter 9 / Article 3 / Section 11-9-210
SECTION 11-9-210. Certificates of indebtedness and certain checks cannot be issued by state officers.
Status: in_force

It shall be unlawful for any state officer to issue any certificate of indebtedness. Nor shall it be lawful for any state officer to draw a warrant or check for any public debt except upon money then actually to his credit in that account in the hands of some bank or public officer.
S.C. Code Ann. § 11-9-85 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-85
SECTION 11-9-85. Tax and fee revenues to be calculated on accrual basis.
Status: in_force

For accounting purposes, the Comptroller General shall calculate revenues of the following taxes and fees on an accrual basis: (1) stamp and business license; (2) alcoholic liquor; (3) beer and wine; (4) soft drink; (5) electric power; (6) gasoline and motor fuel; (7) admissions, including bingo admissions; (8) sales, use, and casual excise; and (9) recording a deed.
S.C. Code Ann. § 11-9-1130 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-1130
SECTION 11-9-1130. Board of Economic Advisors to make forecasts of economic conditions; adjustments to forecasts; review of revenues; synopsis of revenue shortfalls; publication of reports.
Status: in_force

(A) The Board of Economic Advisors shall make an initial forecast of economic conditions in the State and state revenues for the next fiscal year no later than November tenth of each year. Adjustments to the forecast must be considered on December tenth and February fifteenth. A final forecast for the next fiscal year must be made on April tenth. However, before June thirtieth, the board may reduce forecasts for the next fiscal year as it considers necessary. Before making or adjusting any forecast, the board must consult with outside economic experts with respect to national and South Carolina economic business conditions. All forecasts and adjusted forecasts must contain: (1) a brief description of the economic model and all assumptions and basic decisions underlying the forecasts; (2) a projection of state revenues on a quarterly basis; (3) separate discussions of any industry which employs more than twenty percent of the state's total nonagricultural employment and separate projections for these industries. (B) In addition to fulfilling its economic and revenue forecasting responsibilities for future fiscal years, the board at each session shall monitor and review the flow of revenue for the current fiscal year in comparison to current year revenue estimates. If actual revenue collections represent an overall shortfall for any quarter of over one and one-half percent of projected revenue collections for that quarter, a synopsis must be prepared which shall include a detailed analysis of the factors contributing to the shortfall, the impact of the shortfall for the present fiscal year, a projection of whether the shortfall will be compensated for in the remaining quarters of the present fiscal year, and the impact of the shortfall on revenue estimates for the ensuing fiscal year. In addition, a similar detailed synopsis must be provided if a shortfall of one and one-half percent or more is experienced in any of the following individual revenue categories: sales and use taxes, individual income taxes, corporate income taxes, taxes on insurance premiums including workers' compensation insurance, and earnings on investments. (C) All forecasts, adjusted forecasts, and reports of the Board of Economic Advisors, including the synopsis of the current year's review as required by subsection (B), must be published and reported to the Governor, the members of the General Assembly, and made available to the news media. Editor's Note 2016 Act No. 199, SECTION 3, provides as follows: "SECTION 3. This act takes effect upon the approval by the Governor and first applies for the next annual regular session of the General Assembly." Prior Laws: Former SECTION 11-9-1130 was titled Office of Research and Statistics; Economic Research division; Office of Precinct Demographics, and had the following history: 2014 Act No. 121 (S.22), Pt VI, SECTION 8.A, eff July 1, 2014. See now, Code 1976 SECTION 11-9-850. Effect of Amendment 2014 Act No. 121, SECTION 8.D, in subsection (C), deleted "the members of the Budget and Control Board," following the reference to the Governor. 2016 Act No. 199, SECTION 2, rewrote (A), revising the dates of the forecasts; and in (A)(1) substituted "economic" for "econometric". 2018 Act No. 246, SECTION 2, in (A), in the fourth sentence, substituted "However, before" for "However, prior to".
S.C. Code Ann. § 11-58-20 — SC Code / Title 11 / Chapter 58 / Section 11-58-20
SECTION 11-58-20. Definitions.
Status: in_force

For purposes of this chapter: (1) "Administrative Subfund" means the subaccount or subaccounts with the State Treasurer created pursuant to this chapter where certain funds in the South Carolina Opioid Recovery Fund are expended by the South Carolina Opioid Recovery Fund Board and the State Fiscal Accountability Authority to pay for costs associated with administering this chapter. (2) "Approved abatement strategies" means those measures to address and remediate opioid-related issues that are set forth in opioid-related settlements between the State of South Carolina, its participating political subdivisions, and certain companies that market, promote, distribute, dispense, or supply opioids and incorporated herein. (3) "Discretionary Subfund" means the subaccount or subaccounts with the State Treasurer created pursuant to this chapter where certain funds in the South Carolina Opioid Recovery Fund are distributed by the South Carolina Opioid Recovery Fund Board in its discretion to qualified applicants for approved abatement strategies. (4) "Guaranteed Political Subdivision Subfund" means the subaccount or subaccounts with the State Treasurer created pursuant to this chapter where certain funds in the South Carolina Opioid Recovery Fund guaranteed to participating political subdivisions are distributed by the South Carolina Opioid Recovery Fund Board to qualified applicants for approved abatement strategies. (5) "Participating political subdivision" means those counties and municipalities that participated in certain opioid-related settlements with the State of South Carolina. (6) "South Carolina Opioid Recovery Fund" means the account or accounts with the State Treasurer created pursuant to this chapter to receive funds obtained through settlement with or judgment against certain companies that market, promote, distribute, dispense, or supply opioids. These funds are not general fund revenue of the State and must be kept by the State Treasurer in a distinct and separate unbudgeted trust and agency fund apart from the general fund. These funds are to be administered pursuant to this chapter and expended only for the purposes provided in this chapter. For the avoidance of doubt, the Administrative Subfund, the Discretionary Subfund, and the Guaranteed Political Subdivision Subfund are part of the South Carolina Opioid Recovery Fund. (7) "South Carolina Opioid Recovery Fund Board" or "the board" means the entity created pursuant to this chapter for the purpose of administering and distributing the funds within the South Carolina Opioid Recovery Fund.
S.C. Code Ann. § 11-46-10 — SC Code / Title 11 / Chapter 46 / Section 11-46-10
SECTION 11-46-10. Citation of chapter.
Status: in_force

This chapter may be cited as the "South Carolina Hydrogen Infrastructure Development Act".
S.C. Code Ann. § 11-35-4820 — SC Code / Title 11 / Chapter 35 / Article 19 / Section 11-35-4820
SECTION 11-35-4820. Selective mandatory opting.
Status: in_force

As prescribed in regulation by the board, any local public procurement unit may purchase from or through the State at any time; provided, however, that the board may impose a requirement upon the localities for mandatory opting in or out of any particular contract before it is established. Mandatory opting shall be imposed only where it is necessary to obtain more cost effective contracts for the State.
S.C. Code Ann. § 11-58-40 — SC Code / Title 11 / Chapter 58 / Section 11-58-40
SECTION 11-58-40. Discretionary Subfund.
Status: in_force

(A) The State Treasurer shall establish the Discretionary Subfund within the South Carolina Opioid Recovery Fund. (B) The South Carolina Opioid Recovery Fund Board may authorize payments from the Discretionary Subfund to requesting entities, if all of the following requirements are met: (1) the request complies with all application requirements set out by the board; (2) the request is for an approved abatement strategy; (3) sufficient funds to pay the request are in the Discretionary Subfund; and (4) the request is, in the judgment and discretion of the board, an appropriate, reasonable, and merited use of funds to help address issues caused by opioids. (C) The board may approve, deny, or defer any request. The board may establish criteria for evaluating competing requests for payments from the Discretionary Subfund. The board may, but is not required to, provide its grounds for denying a request for funds from the Discretionary Subfund. (D) All decisions of the South Carolina Opioid Recovery Fund Board to authorize payment from the Discretionary Subfund are final and not subject to appeal or judicial review.
S.C. Code Ann. § 11-58-100 — SC Code / Title 11 / Chapter 58 / Section 11-58-100
SECTION 11-58-100. Construction of chapter.
Status: in_force

This act and all powers granted by this chapter must be liberally construed to effectuate its intent and their purposes, without implied limitations on them. This chapter constitutes full and complete authority for all things herein contemplated to be done. All rights and powers granted in this chapter shall be as cumulative with those derived from other sources and shall not, except as expressly stated in this chapter, be construed in limitation thereof. Insofar as the provisions of this chapter are inconsistent with the provisions of any other act, general or special, the provisions of this chapter are controlling. If any clause, sentence, paragraph, section, or part of this chapter be adjudged by any court of competent jurisdiction to be invalid, this judgment shall not affect, impair, or invalidate the remainder of this chapter but is confined in its operation to the clause, sentence, paragraph, section, or part of the chapter directly involved in the controversy in which the judgment shall have been rendered.
S.C. Code Ann. § 11-35-3060 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3060
SECTION 11-35-3060. Fiscal responsibility.
Status: in_force

Every contract modification, change order, or contract price adjustment under a construction contract with the State is subject to Sections 2-47-40 and 2-47-50.
S.C. Code Ann. § 11-5-420 — SC Code / Title 11 / Chapter 5 / Article 3 / Section 11-5-420
SECTION 11-5-420. Administration of program.
Status: in_force

(A) The State Treasurer shall implement and administer the program under the terms and conditions established by this article. The State Treasurer has the authority and responsibility to: (1) develop and implement the program in a manner consistent with the provisions of this article; (2) engage the services of consultants on a contract basis for rendering professional and technical assistance and advice; (3) seek rulings and other guidance from the Secretary and the federal Internal Revenue Service relating to the program; (4) make changes to the program required for the participants in the program to obtain the federal income tax benefits or treatment provided by Section 529A of the federal Internal Revenue Code of 1986, as amended; (5) charge, impose, and collect administrative fees and service charges in connection with any agreement, contract, or transaction relating to the program; (6) develop marketing plans and promotional materials; (7) establish the methods by which the funds held in accounts must be dispersed; (8) establish the method by which funds must be allocated to pay for administrative costs; (9) do all things necessary and proper to carry out the purposes of this article; (10) adopt rules and promulgate regulations necessary to effectuate the provisions of this article; (11) prepare an annual report of the Palmetto ABLE Savings Program to the Governor, the Senate, and the House of Representatives; and (12) notify the Secretary when an account has been opened for a designated beneficiary and submit other reports concerning the program required by the Secretary. (B) The State Treasurer may contract with other states in developing the program. Editor's Note 2016 Act No. 165, SECTION 4, provides as follows: "SECTION 4. This act takes effect upon approval by the Governor and applies for tax years beginning after 2015." Effect of Amendment 2019 Act No. 88, SECTION 1, in (A)(11), substituted "Palmetto ABLE Savings Program" for "ABLE Savings Program".
S.C. Code Ann. § 11-45-50 — SC Code / Title 11 / Chapter 45 / Section 11-45-50
SECTION 11-45-50. Solicitation of investment plans; contents; contracts with designated investor groups.
Status: in_force

(A)(1) The authority shall solicit as necessary from time to time investment plans for the raising and investing of capital in accordance with the requirements of this chapter. (2) Investment plans submitted shall address such matters as may be required by the authority including, but not limited to the submitting person's: (a) level of experience; (b) quality of management; (c) investment philosophy and process; (d) probability of success in fund raising; and (e) plan for achieving the purposes of this chapter. (3) The authority shall consider the investment plans submitted pursuant to this section and shall select one or more designated investor groups deemed best qualified to: (a) capitalize one or more private revolving funds in accordance with this chapter; (b) invest the capital as permitted by this chapter in a manner mobilizing equity, near-equity or seed capital investments in ventures promoting the economic development goals of this State; and (c) help build a significant, fiscally strong, and permanent resource to serve the objectives expressed in this chapter. (B)(1) Each designated investor group selected pursuant to subsection (A)(3) of this section shall enter into a designated investor contract with the authority, which designated investor contract must contain any investment guidelines and other terms and conditions the authority considers necessary, advisable, or appropriate. (2) A designated investor contract may authorize a designated investor group to invest capital either through investors or directly in South Carolina based companies, or both; provided, however, that any designated investor group authorized to invest directly in South Carolina based companies shall meet the requirements set forth in this chapter for an investor. (3) The authority may charge a fee under each designated investor contract as compensation. (C) Each designated investor group must have a manager who is a person with demonstrated substantial successful experience in the design, implementation, and management of venture capital investment programs and in capital formation. (D) The authority shall have the right as further specified in the designated investor contract to: (1) remove and replace any designated investor group; and (2) effect the assignment of all assets, liabilities, and tax credits acquired or incurred in connection with this chapter to any other designated investor group.
S.C. Code Ann. § 11-15-430 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-430
SECTION 11-15-430. Definitions.
Status: in_force

(1) The word "issuer," as used in this article, shall mean any incorporated city or town, school district, county, or other political division or subdivision of the State which shall have outstanding and unpaid, whether matured or unmatured, bonds for whose payment the full faith, credit, taxing power and resources of such political division or subdivision have been pledged, whether or not such general obligation bonds be additionally secured by pledge of other revenues. (2) The term "governing body" shall mean, in the case of incorporated cities or towns, the city council or town council and in other instances the commission, group, board or body to whom is delegated the administrative duties of the issuer.
S.C. Code Ann. § 11-27-80 — SC Code / Title 11 / Chapter 27 / Section 11-27-80
SECTION 11-27-80. Outstanding bonds, notes, or other evidences of indebtedness not impaired.
Status: in_force

Every bond, note or other evidence of indebtedness outstanding on the ratification date which has been issued by the State, or any agency, authority or institution of the State, or by any political subdivision or school district of the State is hereby declared to be a legal, valid and binding obligation of the issuer in accordance with the tenor and terms of such instrument.
S.C. Code Ann. § 11-35-2060 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2060
SECTION 11-35-2060. Material changes prohibited.
Status: in_force

A change order or a contract modification may not alter a contract in a manner or degree inconsistent with the underlying purposes and policies of this code or the regulations of the board. Code Commissioner's Note At the direction of the Code Commissioner, Section 11-35-1610, as added by 2019 Act No. 41, SECTION 28, was redesignated as Section 11-35-2060 and placed under Subarticle 9. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date."
S.C. Code Ann. § 11-27-10 — SC Code / Title 11 / Chapter 27 / Section 11-27-10
SECTION 11-27-10. Definitions.
Status: in_force

Unless the context clearly requires a different result, for the purposes of this chapter, the following terms have the meanings given thereto: "Debt limitation" shall mean those debt limitations applicable under New Article X. "Law" shall mean any act, law, statute, joint resolution or other enactment of the General Assembly, whether general or special, in force on the occasion of the effective date of New Article X, relating to the issuance of general obligation debt or any other form of debt by the State, its agencies, authorities or institutions and by the political subdivisions and school districts of the State. "Ratification date" means the effective date of New Article X. "State board" means the governing body of the State Fiscal Accountability Authority. Any term defined in New Article X shall have the meanings therein given to such term. Effect of Amendment 2014 Act No. 121, SECTION 20.C, in the definition for "State board", substituted "means the governing body of the State Fiscal Accountability Authority" for "shall mean the State Budget and Control Board".
S.C. Code Ann. § 11-21-50 — SC Code / Title 11 / Chapter 21 / Section 11-21-50
SECTION 11-21-50. Optional redemption; agreement as to use of proceeds; notice.
Status: in_force

The governing board shall not be required to effect the payment or redemption of the outstanding bonds through the means of any optional redemption provision and it may provide in the agreement required by SECTION 11-21-60 that the proceeds of the refunding bonds be used for the payment of the outstanding bonds as and when the same mature. Whenever refunding bonds are issued pursuant to this chapter, the public agency issuing such bonds shall give published notice in a financial paper published in the City of New York of the purpose for which the proceeds of the refunding bonds will be used.
S.C. Code Ann. § 11-13-45 — SC Code / Title 11 / Chapter 13 / Section 11-13-45
SECTION 11-13-45. Deposit and handling of federal funds; donations from other sources.
Status: in_force

All federal funds received must be deposited in the State Treasury, if not in conflict with federal regulations, and withdrawn from the State Treasury as needed, in the same manner as that provided for the disbursement of state funds. If it is determined that federal funds are not available for, or cannot be appropriately used in connection with, all or any part of any activity or program for which state funds are specifically appropriated for the fiscal year to match federal funds, the appropriated funds may not be expended and must be returned to the general fund, except upon specific written approval of the State Fiscal Accountability Authority. Donations or contributions from sources other than the federal government, for use by any state agency, must be deposited in the State Treasury, but in special accounts, and may be withdrawn from the treasury as needed to fulfill the purposes and conditions of the donations or contributions, if specified, and if not specified, as directed by the proper authorities of the department. The expenditure of funds by state agencies from sources other than general fund appropriations are subject to the same limitations and provisions of law applicable to the expenditure of appropriated funds with respect to salaries, wages or other compensation, travel expense, and other allowance or benefits for employees. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-37-160 — SC Code / Title 11 / Chapter 37 / Section 11-37-160
SECTION 11-37-160. Amendments to chapter may not limit vested rights.
Status: in_force

Subsequent amendments to this chapter may not limit the rights vested in the authority with respect to any agreements made with, or remedies available to, the holders of bonds issued under this chapter before the enactment of the amendments until the bonds, with all premiums and interest on them, and all costs and expenses in connection with any proceeding by or on behalf of the holders, are fully met and discharged.
S.C. Code Ann. § 11-37-250 — SC Code / Title 11 / Chapter 37 / Section 11-37-250
SECTION 11-37-250. Construction of chapter.
Status: in_force

The provisions of this chapter must be liberally construed to the end that its beneficial purposes may be effectuated. No proceedings, notice, or approval is required for the issuance of any bonds of the authority or any instruments or the security thereof, except as provided in this chapter. Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, general, special, or local, the provisions of this chapter are controlling.
S.C. Code Ann. § 11-11-310 — SC Code / Title 11 / Chapter 11 / Article 3 / Section 11-11-310
SECTION 11-11-310. General Reserve Fund; deficit.
Status: in_force

(A) The State Fiscal Accountability Authority shall provide for a General Reserve Fund. Funds accumulating in excess of the annual operating expenditures must be transferred to the General Reserve Fund and the transfer must continue to be made in succeeding fiscal years until the accumulated total in this reserve reaches an amount equal to the applicable percentage amount of the general fund revenue of the latest completed fiscal year. (B) If there is a year-end operating deficit, so much of the General Reserve Fund as is necessary must be used to cover the deficit. The amount so applied must be restored to the General Reserve Fund out of future revenues as provided in Section 36, Article III of the Constitution of this State and out of funds accumulating in excess of annual operating expenditures as provided in this section until the applicable percentage amount is reached and actually maintained. (C) In the event of a year-end operating deficit, so much of the reserve fund as may be necessary must be used to cover the deficit, and the amount must be restored to the reserve fund within five fiscal years out of future revenues until the applicable percentage amount required to be transferred to the General Reserve Fund, is reached and maintained. Provided, that a minimum of one percent of the general fund revenue of the latest completed fiscal year, if so much is necessary, must be restored to the reserve fund each year following the deficit until the applicable percentage amount required by general law to be transferred to the General Reserve Fund, is restored. (D) For purposes of this section "applicable percentage amount" means seven percent of general fund revenue of the latest completed fiscal year. The seven percent requirement shall be reached by adding a cumulative one-half of one percent of such revenue in each fiscal year succeeding the last fiscal year to which the five percent limit applied until the percentage of such revenue equals seven percent which then and thereafter shall apply. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015. Editor's Note 2010 Act No. 152, SECTION 1.B., provides: "This section takes effect upon ratification of an amendment to Section 36, Article III of the Constitution of this State authorizing its terms submitted to the electors of this State at the general election of 2010 and first applies for the state fiscal year beginning after that date." 2022 Act No. 238, SECTION 3(A), provides as follows: "SECTION 3. (A) The provisions of SECTION 1 of this act take effect upon the ratification of an amendment to Section 36(A), Article III of the Constitution of this State raising the general reserve fund from five percent of general fund revenue of the latest completed fiscal year to seven percent of such revenues in the manner provided in the section and first applies to the state fiscal year beginning thereafter." The amendment was ratified on February 28, 2023, in 2023 Act No. 5 (S.381), SECTION 1.A. Effect of Amendment The 2010 amendment, in subsection (A), substituted "the applicable percentage amount" for "three percent"; in subsection (B), substituted "the applicable percentage amount is reached" for "three percent maximum is again reached"; and added subsections (C) and (D). 2022 Act No. 238, SECTION 1, in (D), substituted "seven percent" for "five percent" in three places, and, in the second sentence, substituted "five percent" for "three percent".
S.C. Code Ann. § 11-60-10 — SC Code / Title 11 / Chapter 60 / Section 11-60-10
SECTION 11-60-10. Definitions.
Status: in_force

For the purposes of this chapter: (1) "Authority" means the State Fiscal Accountability Authority. (2) "Independent evaluator" means a qualified person or entity selected by a state agency, and with whom a state agency contracts, to provide independent evaluation services to determine if performance measures have been achieved within a stated period under a pay-for-success contract. An independent evaluator must be identified prior to submitting a pay-for-success proposal to the authority, as required by Section 11-60-30. (3)(a) "Pay-for-success contract" means a written agreement between a state agency and a private-sector organization under which: (i) the private-sector organization provides a program or service, including a related project management service; (ii) the parties set forth performance measures for a given population over a certain period of time that the private-sector organization intends to achieve; (iii) the parties agree to an amount that the private-sector organization earns if the performance measures are achieved within the stated time period and agree that the success payment is due to the private-sector organization only if it achieves these performance measures within the stated period; and (iv) any other provisions are included as required by Section 11-60-40. (b) "Pay-for-success contract" does not mean a guaranteed energy, water, or wastewater savings contract or a contract subject to Article 9, Chapter 35, Title 11. (4) "Performance measures" means specific, measurable, time-based goals, the completion of which predicates payment under a pay-for-success contract. (5) "Private-sector organization" means a firm or nonprofit organization that contracts with a state agency in a pay-for-success contract. (6) "Success payment" means the money paid when a pay-for-success contract performance measure is met. Editor's Note 2021 Act No. 52, SECTION 1, provides as follows: "SECTION 1. This act must be known and may be cited as the 'South Carolina Pay-for-Success Performance Accountability Act'."
S.C. Code Ann. § 11-40-50 — SC Code / Title 11 / Chapter 40 / Section 11-40-50
SECTION 11-40-50. South Carolina Infrastructure Revolving Loan Fund; establishment; purpose; deposits to fund; use of monies in fund.
Status: in_force

(A) There is established the South Carolina Infrastructure Revolving Loan Fund, which must be held and administered by the authority in accordance with the provisions of this chapter and policies, rules, regulations, directives, and agreements as may be promulgated or entered into by the authority pursuant to this chapter. Earnings on balances in the fund must be credited to the fund. Amounts remaining in the fund at the end of a fiscal year accrue only to the credit of the fund. Amounts in the fund must be available in perpetuity for the purpose of providing financial assistance in accordance with the provisions of this chapter and such federal programs as have provided grants therefor. The authority may establish accounts and subaccounts within the fund as considered desirable to effectuate the purposes of this chapter, to comply with the provisions of a bond resolution, or to meet the requirements of any state or federal programs. (B) There may be deposited in the fund: (1) federal capitalization grants and awards or other federal assistance received under the authority of federal programs for purposes of the fund; (2) funds appropriated by the General Assembly for deposit to the fund; (3) payments received from a local government in repayment of a loan, including amounts withheld by the State Treasurer and paid to the authority pursuant to Section 11-40-200; (4) net proceeds of bonds issued by the authority; (5) interest or other income earned on the investment of monies in the fund; and (6) additional monies made available from public or private sources, including state grants and proceeds of state capital improvement bonds for the purposes for which the fund has been established. (C) Amounts in the fund may be used only: (1) to make loans, through the acquisition of bonds or other obligations, to local governments in accordance with provisions of this chapter; (2) to finance projects by loan, loan guarantee or otherwise, and to pay the cost of any project from the proceeds of bonds of the authority or any other funds of the authority; (3) to buy or refinance debt obligations of local governments at or below market rates; (4) to guarantee or purchase insurance for bonds, notes, or other evidences of obligation issued by a local government for the purpose of financing all or a portion of the cost of a project, if the action improves credit market access or reduces interest rates; (5) as a source of revenue or security for the payment of principal and interest on bonds issued by the authority if the proceeds of the sale of the bonds are deposited in the fund; (6) to make grants to local governments but only if the use of such funds for such purpose is specifically provided for under a federal program that capitalizes a revolving loan fund; (7) to earn interest on fund accounts; (8) for the reasonable costs of administering the fund and conducting activities under federal or state programs; and (9) for any other purpose authorized by federal or state programs.
S.C. Code Ann. § 11-9-105 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-105
SECTION 11-9-105. Contracts for legal or consultant services.
Status: in_force

Any contract for legal or consultant services entered into by a state agency or institution shall include a provision which requires completion of all services. The provisions shall further require that in the event all services are not fully rendered as provided for in the contract, any monies which have been paid by the agency under the contract must be refunded to the agency along with a twelve percent penalty.
S.C. Code Ann. § 11-5-180 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-180
SECTION 11-5-180. Monthly reports to Comptroller General of cash transactions.
Status: in_force

The State Treasurer shall, at the end of every month, report to the Comptroller General an accurate statement of the cash transactions of the Treasury, of every description, stating therein every sum of money received or paid away in behalf of the State, particularizing the person and his office of whom received and to whom paid, as also on what account received and for what purpose paid. He shall, at all times, when required by the Comptroller General, produce to him satisfactory statements of the cash in hand and furnish him promptly with the official information, duly certified, relative to any matter connected with the revenue and finance of the State.
S.C. Code Ann. § 11-14-110 — SC Code / Title 11 / Chapter 14 / Section 11-14-110
SECTION 11-14-110. Defeasance of outstanding public obligations authorized; deposits in special trust fund.
Status: in_force

The State, acting through the State Fiscal Accountability Authority, all agencies and institutions and all counties, municipal corporations, authorities, special purpose districts and other political units may effect the defeasance of any outstanding bonds, notes, or other obligations by depositing in a special irrevocable trust fund, to be held by the State Treasurer or a bank or other financial institution approved by the State Treasurer, obligations provided for in Section 6-5-10(a)(1) and monies which will provide the sums required to pay when due the principal of, redemption premium, if any, and interest on the bonds sought to be defeased. Upon the establishment and funding in full of such special trust fund, the bonds so defeased shall no longer be deemed outstanding for any purpose. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-11-15 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-15
SECTION 11-11-15. Budget functions devolved on Governor; Budget Office to assist.
Status: in_force

The functions of the State Budget and Control Board in the preparation and submission to the General Assembly of the recommended state budget are devolved upon the Governor. Wherever the phrase "State Budget and Control Board" appears in the context of preparing and submitting budget recommendations to the General Assembly, it means the Governor. In preparing the recommended state budget, the Governor may consult with the State Treasurer, the Comptroller General, or other state officials as needed. The Executive Budget Office shall assist the Governor in preparing the budget recommendations, but this function of the Executive Budget Office may not be construed as altering the overall management and administration of the Executive Budget Office. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1). Editor's Note 1993 Act No. 132, SECTION 2, provides as follows: "This act takes effect July 1, 1993, and first applies for the budget recommendation for fiscal year 1994-95."
S.C. Code Ann. § 11-51-60 — SC Code / Title 11 / Chapter 51 / Section 11-51-60
SECTION 11-51-60. Research infrastructure project used for unapproved purpose; reimbursement of debt service to State.
Status: in_force

In the event a research infrastructure project is used for a purpose other than as approved by the Research Centers of Excellence Review Board pursuant to Section 11-51-80(2), the research university for which the research infrastructure project was originally established shall reimburse the State a percentage of debt service on the general obligation debt issued to finance the debt, the percentage to be equal to the percentage of the research infrastructure project which is used for an unapproved purpose. Amounts reimbursed to the State pursuant to this section must be applied, as directed by the state board, to the debt service on the applicable general obligation debt, either currently or by way of defeasance, or to the general fund of the State.
S.C. Code Ann. § 11-40-10 — SC Code / Title 11 / Chapter 40 / Section 11-40-10
SECTION 11-40-10. Short Title.
Status: in_force

This chapter may be cited as the "South Carolina Infrastructure Facilities Authority Act".
S.C. Code Ann. § 11-15-600 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-600
SECTION 11-15-600. Refunding of special obligation bonds.
Status: in_force

Any issuer having outstanding special obligation bonds authorized by any special act of the General Assembly enacted prior to March 7, 1973, may utilize the procedure prescribed by this article to effect the refunding of such special obligation bonds, except that for the payment of the principal of and interest on such refunding bonds there shall be pledged all or any part of the revenues securing the outstanding bonds, and any and all covenants as may be deemed necessary or desirable may be made to implement such pledges.
S.C. Code Ann. § 11-49-30 — SC Code / Title 11 / Chapter 49 / Section 11-49-30
SECTION 11-49-30. Tobacco Settlement Revenue Management Authority created; purpose; termination.
Status: reserved

(A) There is created the Tobacco Settlement Revenue Management Authority, a public body corporate and politic and an instrumentality of this State, with the responsibility of effecting the public purpose of this chapter. (B) The purpose of the authority is to receive all of the state's tobacco receipts, to issue bonds of the authority payable solely from and secured solely by the state's tobacco receipts or any tobacco receipts reserved fund created from it for the purposes authorized in this chapter, and to manage and dispose of the state's tobacco receipts for the purposes and in the manner authorized in this chapter. (C) Upon termination of the existence of the authority, title to all property, real and personal, owned by it, including net earnings, vests in the State.
S.C. Code Ann. § 11-35-45 — SC Code / Title 11 / Chapter 35 / Article 1 / Section 11-35-45
SECTION 11-35-45. Payment for goods and services received by State.
Status: in_force

(A) All vouchers for payment of purchases of services, supplies, or information technology must be delivered to the Comptroller General's office within thirty work days from acceptance of the goods or services and proper invoice. After the thirtieth work day, following acceptance or the postmark on the invoice, the Comptroller General shall levy an amount not to exceed fifteen percent each year from the funds available to the agency, this amount to be applied to the unpaid balance to be remitted to the vendor unless the vendor waives imposition of the interest penalty. (B) All agencies and institutions of the State are required to comply with the provisions of this section. Only the lump sum institutions of higher education are responsible for the payment of all goods or services within thirty work days after the acceptance of the goods or services and proper invoice, whichever is received later, and shall pay an amount not to exceed fifteen percent per annum on any unpaid balance which exceeds the thirty work-day period, if the vendor specifies on the statement or the invoice submitted to such institutions that a late penalty is applicable if not paid within thirty work days after the acceptance of goods or services. (C) The Comptroller General shall issue written instructions to the agencies to carry out the intent of this section. All offices, institutions, and agencies of state government shall fully cooperate with the Comptroller General in the implementation of this section. (D) The thirty-day period shall not begin until the agency, whether or not the agency processes vouchers through the Comptroller General, certifies its satisfaction with the received goods or services and proper invoice.
S.C. Code Ann. § 11-35-4830 — SC Code / Title 11 / Chapter 35 / Article 19 / Section 11-35-4830
SECTION 11-35-4830. Sale, acquisition, or use of supplies by a public procurement unit.
Status: in_force

Any public procurement unit may sell to, acquire from, or use any supplies belonging to another public procurement unit independent of the requirements of Articles 5 and 15 of this chapter; provided, that such procurement shall take place only when the procuring entities have good reason to expect the intergovernmental procurement to be more cost effective than doing their own procurement. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 67, substituted "independent of" for "or external procurement activity in accordance with".
S.C. Code Ann. § 11-9-860 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-860
SECTION 11-9-860. Assisting with development of annual general appropriations act.
Status: in_force

The office shall assist the General Assembly with the development of the annual general appropriations act. Editor's Note Prior Laws: Former SECTION 11-9-860 was titled Verification by Comptroller General of expenditure schedules used with economic announcements, and had the following history: 1982 Act No. 466, Part II, SECTION 44. See now, Code 1976 SECTION 11-9-890. Effect of Amendment 2018 Act No. 246, SECTION 2, rewrote the section.
S.C. Code Ann. § 11-37-130 — SC Code / Title 11 / Chapter 37 / Section 11-37-130
SECTION 11-37-130. Purchase of outstanding bonds.
Status: in_force

The authority, subject to agreements with bondholders as may then exist, may purchase outstanding bonds of the authority with any available funds, at any reasonable price. If the bonds are then redeemable, the price shall not exceed the redemption price then applicable plus accrued interest to the next interest payment date.
S.C. Code Ann. § 11-35-5220 — SC Code / Title 11 / Chapter 35 / Article 21 / Section 11-35-5220
SECTION 11-35-5220. Duties of the chief procurement officers.
Status: in_force

(1) Assistance from the Chief Procurement Officers. The chief procurement officers shall provide appropriate staffs to assist minority businesses with the procurement procedures developed pursuant to this code. (2) Special Publications. The chief procurement officers in cooperation with other appropriate private and state agencies may issue supplementary instructions designed to assist minority businesses with the state procurement procedures. (3) Source Lists. Chief procurement officers shall maintain special source lists of minority business firms detailing the products and services which they provide. These lists shall be made available to agency purchasing personnel. (4) Solicitation Mailing Lists. The chief procurement officers shall include and identify minority business on the state's bidders' list and shall ensure that these firms are solicited on an equal basis within nonminority firms. (5) Training Programs. The chief procurement officers shall work with appropriate state offices and minority groups in conducting seminars to assist minority business owners in learning how to do business with the State. (6) Fee Waivers. Upon request by an MBE certified by the Small and Minority Business Assistance Office, user or subscription fees for services provided by the chief procurement officers may be waived for an MBE.
S.C. Code Ann. § 11-35-4840 — SC Code / Title 11 / Chapter 35 / Article 19 / Section 11-35-4840
SECTION 11-35-4840. Cooperative use of supplies or services.
Status: in_force

Any public procurement unit may enter into an agreement independent of the requirements of Articles 5 and 15 of this chapter with any other public procurement unit for the cooperative use of supplies, services, or information technology under the terms agreed upon between the parties; provided, that such cooperative use of supplies, services, or information technology shall take place only when the public procurement units have good reason to expect the cooperative use to be more cost effective than utilizing their own supplies and services. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 68, substituted "independent of" for "in accordance with", deleted "or external procurement activity" following "public procurement unit", and substituted ", services, or information technology" for "or services" in two places.
S.C. Code Ann. § 11-35-3010 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3010
SECTION 11-35-3010. Choice of project delivery method.
Status: in_force

(1) Selection of Method. The project delivery method used for a state construction project must be that method which is most advantageous to the State and results in the most timely, economical, and successful completion of the construction project. The governmental body shall select, in accordance with regulations of the board, the appropriate project delivery method for a particular project and shall state in writing the facts and considerations leading to the selection of that particular method. (2) State Engineer's Office Review. The governmental body shall submit its written report stating the facts and considerations leading to the selection of the particular project delivery method to the State Engineer's Office for its review. (3) Approval or Disagreement by State Engineer's Office. The State Engineer's Office has ten days to review the data submitted by the governmental body to determine its position with respect to the particular project delivery method recommended for approval by the governmental body, and to notify the governmental body of its decision in writing. If the State Engineer's Office disagrees with the project delivery method selected, it may contest it by submitting the matter to the board for decision. Written notification by the State Engineer's Office to the governmental body of its intention to contest the project delivery method selected must include its reasons. The board shall hear the contest at its next regularly scheduled meeting after notification of the governmental body. If the board rules in support of the State Engineer's Office position, the governmental body shall receive written notification of the decision. If the board rules in support of the governmental body, the governmental body must be notified in writing and by that writing be authorized to use that project delivery method as previously recommended by the governmental body on the particular construction project. (4) In addition to the requirement of subsection (1), use of the project delivery methods authorized by Section 11-35-3005(1)(e), (1)(f), and (2) must be approved by the board if the total potential value of the overall transaction exceeds twenty-five million dollars. Editor's Note 2008 Act No. 174, SECTION 21, provides as follows: "This act takes effect upon approval by the Governor and applies to solicitations issued on or after January 1, 2008." 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 38, added (4).
S.C. Code Ann. § 11-25-690 — SC Code / Title 11 / Chapter 25 / Article 9 / Section 11-25-690
SECTION 11-25-690. Annual notice requesting written confirmation that recipient wishes to continue to receive agency publication.
Status: in_force

All state and local agencies sending out by mail a nondaily publication shall insert at least annually a notice prominently placed, in at least two consecutive issues, which states that all recipients must be removed from the publication's mailing list unless they request in writing, at least ten days before a cutoff date specified in the notice, that the recipient wishes to continue receiving the publication. If no written request from a recipient is received by the cutoff date, the publication must no longer be mailed to the recipient. This section does not apply to a nondaily publication mailed no more than twice a year to public officials and employees.
S.C. Code Ann. § 11-13-140 — SC Code / Title 11 / Chapter 13 / Section 11-13-140
SECTION 11-13-140. State Treasury deemed bank for federal purposes.
Status: in_force

For purposes of federal law or regulation relating to funds allotted to state agencies which include requirements relating to banking procedures, the State Treasury is deemed to meet the definition of a bank.
S.C. Code Ann. § 11-9-140 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-140
SECTION 11-9-140. Transfer of capital improvement bond balances to Bond Contingency Revolving Fund; exemptions; determination and review.
Status: in_force

The State Fiscal Accountability Authority may transfer to the Bond Contingency Revolving Fund any capital improvement bond project balances determined not to be usable or needed. Capital improvement bonds issued on behalf of the Mental Health Commission as provided in Act 151 of 1983 and Acts 1272 and 1276 of 1970, as amended, or bonds issued on behalf of the Department of Behavioral Health and Developmental Disabilities as provided in Section 44-20-1110 et seq. are exempt. Before accomplishing a transfer of this type, the required determination must be made by the agency for which the funds were authorized or by the State Fiscal Accountability Authority if the agency no longer exists, and the board must find that the purpose for which the funds were authorized has been achieved. Any transfer by the State Fiscal Accountability Authority must first be reviewed by the Joint Bond Review Committee. Code Commissioner's Note At the direction of the Code Commissioner, certain references in the S.C. Code to the State Department of Mental Health, South Carolina Mental Health Commission, Department of Disabilities and Special Needs, Department of Disabilities and Special Needs Commission, Department of Alcohol and Other Drug Abuse Services, and other related terms were changed to reflect the restructuring of these agencies into component offices under the Department of Behavioral Health and Developmental Disabilities, pursuant to 2025 Act No. 3, SECTION 18. At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-43-270 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-270
SECTION 11-43-270. Severability of provisions.
Status: in_force

If any provision of this chapter is held or determined to be unconstitutional, invalid, or otherwise unenforceable by a court of competent jurisdiction, it is the intention of the General Assembly that the provision is severable from the remaining provisions of the chapter and that the holding does not invalidate or render unenforceable another provision of the chapter.
S.C. Code Ann. § 11-9-620 — SC Code / Title 11 / Chapter 9 / Article 7 / Section 11-9-620
SECTION 11-9-620. Handling of funds.
Status: in_force

All monies arising from the redemption of lands, leases, and sales of property or otherwise coming to the authority for the Sinking Fund, must be paid into the State Treasury and kept on a separate account by the Treasurer as a fund to be drawn upon the warrants of the department for the exclusive uses and purposes which have been or shall be declared in relation to the Sinking Fund. Effect of Amendment 2014 Act No. 121, SECTION 7.T.1 substituted "authority" for "State Budget and Control Board", substituted "department" for "board", and made other nonsubstantive changes.
S.C. Code Ann. § 11-35-2015 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2015
SECTION 11-35-2015. Effect of contract or amendment.
Status: in_force

A contract or amendment thereto, including, but not limited to, a change order or contract modification, is not effective against a governmental body unless the contract or amendment is in writing and signed by an officer having actual authority to bind the governmental body. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date."
S.C. Code Ann. § 11-43-320 — SC Code / Title 11 / Chapter 43 / Article 3 / Section 11-43-320
SECTION 11-43-320. Pledges of revenue or funds to bond payment; bonds secured by pledge.
Status: in_force

The bank may pledge any of its revenue or funds to the payment of its bonds, subject only to any prior agreements with the holders of particular bonds which may have pledged specific money or revenue. Bonds may be secured by a pledge of any loan obligation owned by the bank, any grant, contribution, or guaranty from the United States, the State, or any corporation, association, institution, or person, any other property or assets of the bank, or a pledge of any money, income, or revenue of the bank from any source.
S.C. Code Ann. § 11-3-100 — SC Code / Title 11 / Chapter 3 / Section 11-3-100
SECTION 11-3-100. Books of Treasurer; report to General Assembly.
Status: in_force

The Comptroller General shall keep a set of books exhibiting the separate transactions of the State Treasury. Such set of books shall be a transcript of the books of the Treasury, constituting a complete check upon that office. And the Comptroller shall, in addition to the exhibits of cash transactions of the Treasury, annually report to the General Assembly a balance sheet of the books aforesaid, setting forth as well by whom debts are due to the State as the amounts of those debts.
S.C. Code Ann. § 11-3-80 — SC Code / Title 11 / Chapter 3 / Section 11-3-80
SECTION 11-3-80. Report of names of pensioners.
Status: in_force

The Comptroller General shall make to the General Assembly an annual report of the names of the pensioners of the State.
S.C. Code Ann. § 11-35-2430 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2430
SECTION 11-35-2430. Retention of procurement records.
Status: in_force

All procurement records of governmental bodies shall be retained and disposed of in accordance with records retention guidelines and schedules approved by the Department of Archives and History after consultation with the Attorney General. All retained documents shall be made available to the Attorney General or a designee upon request and proper receipt therefor.
S.C. Code Ann. § 11-41-170 — SC Code / Title 11 / Chapter 41 / Section 11-41-170
SECTION 11-41-170. Expenditure of proceeds.
Status: in_force

The proceeds received from the issuance of bonds, after deducting the costs of issuance, must be expended only for the purpose of providing infrastructure.
S.C. Code Ann. § 11-50-180 — SC Code / Title 11 / Chapter 50 / Section 11-50-180
SECTION 11-50-180. Severability provision.
Status: in_force

If any provision of this chapter is held or determined to be unconstitutional, invalid, or otherwise unenforceable by a court of competent jurisdiction, it is the intention of the General Assembly that the provision is severable from the remaining provisions of the chapter and that the holding does not invalidate or render unenforceable another provision of the chapter.
S.C. Code Ann. § 11-43-230 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-230
SECTION 11-43-230. Notice, proceeding, or publication not necessary; bank not subject to referendum.
Status: in_force

Notice, proceeding, or publication, except those required in this chapter, are not necessary to the performance of any act authorized in this chapter nor is any act of the bank subject to any referendum.
S.C. Code Ann. § 11-40-240 — SC Code / Title 11 / Chapter 40 / Section 11-40-240
SECTION 11-40-240. Annual reports; audit of books and accounts.
Status: in_force

Following the close of each fiscal year, the authority shall submit an annual report of its activities for the preceding year to the Governor and to the General Assembly. The authority shall also submit an annual report to the appropriate federal agency in accordance with requirements of any federal program. An independent certified public accountant shall perform an audit of the books and accounts of the authority at least once in each fiscal year.
S.C. Code Ann. § 11-43-330 — SC Code / Title 11 / Chapter 43 / Article 3 / Section 11-43-330
SECTION 11-43-330. Bonds not debt or pledge of full faith and credit of State; personal liability; statement.
Status: in_force

Bonds issued by the bank do not constitute a debt or a pledge of the full faith and credit of this State, or any of its political subdivisions other than the bank, but are payable solely from the revenue, money, or property of the bank as provided in this chapter. The bonds issued do not constitute an indebtedness of the State within the meaning of any constitutional or statutory limitation. No member of the bank or any person executing bonds of the bank is liable personally on the bonds by reason of their issuance or execution. Each bond issued under this article must contain on its face a statement to the effect that: (1) neither the State, nor any of its political subdivisions, nor the bank is obligated to pay the principal of or interest on the bond or other costs incident to the bond except from the revenue, money, or property of the bank pledged; (2) neither the full faith and credit nor the taxing power of the State, or any of its political subdivisions, is pledged to the payment of the principal of or interest on the bond; (3) the bank does not have taxing power.
S.C. Code Ann. § 11-40-160 — SC Code / Title 11 / Chapter 40 / Section 11-40-160
SECTION 11-40-160. Bonds and income from bonds exempt from taxes and assessments.
Status: in_force

The authority is performing an essential governmental function in the exercise of the powers conferred upon it and is not required to pay taxes or assessments upon property or upon its operations or the income from them, or taxes or assessments upon property or loan obligation acquired or used by the authority or upon the income from them. Bonds issued by the authority, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by this State, and by the local governments and other political subdivisions of this State.
S.C. Code Ann. § 11-41-180 — SC Code / Title 11 / Chapter 41 / Section 11-41-180
SECTION 11-41-180. Infrastructure procurement procedures for research universities.
Status: in_force

All procurements of infrastructure, as defined in Section 11-41-30 and owned by a research university, as defined in Section 11-51-30(5), shall be exempt from Title 11, Chapter 35, except that such research university must work in conjunction with the State Fiscal Accountability Authority's Chief Procurement Officer to establish alternative procurement procedures. The research university shall submit its alternative procurement procedures to the State Fiscal Accountability Authority for approval. The procurement process shall include provisions for audit and recertification. Effect of Amendment 2014 Act No. 121, SECTION 20.H.3, substituted "State Fiscal Accountability Authority's" for "Budget and Control Board's" in the first sentence, and substituted "Fiscal Accountability Authority" for "Budget and Control Board" in the second sentence.
S.C. Code Ann. § 11-38-30 — SC Code / Title 11 / Chapter 38 / Section 11-38-30
SECTION 11-38-30. Applicability of provisions of Act 1377 of 1968 which are not in conflict.
Status: in_force

All provisions of Act 1377 of 1968, as amended, not inconsistent, or in conflict, with the provisions of this chapter are applicable to capital improvement bonds issued in denominations less than $1,000.
S.C. Code Ann. § 11-11-220 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-220
SECTION 11-11-220. Contingency Reserve Fund established.
Status: in_force

(A) There is created in the state treasury a fund separate and distinct from the general fund of the State, the Capital Reserve Fund, and all other funds entitled the Contingency Reserve Fund. All general fund revenues accumulated in a fiscal year in excess of general appropriations and supplemental appropriations must be credited to this fund. Revenues credited to this fund in a fiscal year may be appropriated by the General Assembly. Upon determination by the Comptroller General as to the amount to be deposited in the Contingency Reserve Fund, the Comptroller General shall notify the Board of Economic Advisors and the board shall recognize that amount as surplus funds. (B) If the balance in the general reserve fund established pursuant to Section 36, Article III of the Constitution of this State and Section 11-11-310 is less than the required balance, there must be appropriated to it all amounts in the Contingency Reserve Fund up to the total necessary to replenish the general reserve fund. This amount does not replace or supplant the minimum replenishment amount otherwise required to be made to the general reserve fund.
S.C. Code Ann. § 11-43-570 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-570
SECTION 11-43-570. Issuance of bonds.
Status: in_force

Following receipt of a certified copy of the resolution of the state board the Governor and State Treasurer shall issue transportation infrastructure bonds in accordance with the provisions of the resolution of the state board.
S.C. Code Ann. § 11-35-3037 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3037
SECTION 11-35-3037. Other forms of security.
Status: in_force

The governmental body may require one or more of the following forms of security to assure the timely, faithful, and uninterrupted provision of operations and maintenance services procured separately or as one element of another project delivery method: (a) operations period surety bonds that secure the performance of the contractor's operations and maintenance obligations; (b) letters of credit in an amount appropriate to cover the cost to the governmental body of preventing infrastructure service interruptions for a period up to twelve months; and (c) appropriate written guarantees from the contractor, or depending upon the circumstances, from a parent corporation, to secure the recovery of reprocurement costs to the governmental body if the contractor defaults in performance. Editor's Note 2008 Act No. 174, SECTION 21, provides as follows: "This act takes effect upon approval by the Governor and applies to solicitations issued on or after January 1, 2008."
S.C. Code Ann. § 11-35-5240 — SC Code / Title 11 / Chapter 35 / Article 21 / Section 11-35-5240
SECTION 11-35-5240. Minority business enterprise (MBE) Utilization Plan.
Status: in_force

(1) To emphasize the use of minority small businesses, each agency director shall develop a Minority Business Enterprise (MBE) Utilization Plan. The MBE Utilization Plan must include, but not be limited to: (a) the name of the governmental body; (b) a policy statement expressing a commitment by the governmental body to use MBEs in all aspects of procurement; (c) the name of the coordinator responsible for monitoring the MBE Utilization Plan; (d) goals that include expending with Minority Business Enterprises certified by the Office of Small and Minority Business Assistance an amount equal to ten percent of each governmental body's total dollar amount of funds expended; (e) solicitation of certified minority vendors, a current list of which must be supplied by the Office of Small and Minority Business Assistance, in each commodity category for which the minority vendor is qualified. The current listing of qualified minority vendors must be made available by the Office of Small and Minority Business Assistance on a timely basis; (f) procedures to be used when it is necessary to divide total project requirements into smaller tasks which will permit increased MBE participation; (g) procedures to be used when the governmental body subcontracts the scope of service to another governmental body; the responsible governmental body may set goals for the subcontractor in accordance with the MBE goal and the responsible governmental body may allow the subcontractor to present a MBE Utilization Plan detailing its procedure to obtain minority business enterprise participation. (2) MBE utilization plans must be submitted to the SMBAO for approval no later than July thirtieth, annually. Upon petition by the governmental body, SMBAO may authorize an MBE utilization plan that establishes a goal of less than ten percent of the governmental body's total dollar amount of funds expended. Progress reports must be submitted to the SMBAO no later than thirty days after the end of each fiscal quarter and contain the following information: (a) number of minority firms solicited; (b) number of minority bids received; (c) total dollar amount of funds expended on contracts awarded to minority firms certified pursuant to Section 11-35-5230; and (d) total dollar amount of funds expended. (3) For purposes of this section, and notwithstanding the Administrative Procedures Act, the executive director of the board shall establish a definition for the phrase "total dollar amount of funds expended".
S.C. Code Ann. § 11-40-120 — SC Code / Title 11 / Chapter 40 / Section 11-40-120
SECTION 11-40-120. Bonds to be authorized by resolution; requirements for bonds.
Status: in_force

The bonds of the authority must be authorized by a resolution of the authority and must be in the form and executed in the manner provided in the bond resolution. The bonds shall bear the date and mature at the time which the bond resolution provides, except that no bond may mature more than thirty years from its date of issue. The bonds may be in the denominations, be executed in the manner, be payable in the medium of payment, be payable at the place at the time, and be subject to redemption or repurchase and contain other provisions determined by the authority. The bonds may bear interest payable at a time and at a rate as determined by the authority, including the determination of interest rates by agents designated by the authority under guidelines established by it. Bonds may be sold by the authority at public or private sale at the price it determines and approves.
S.C. Code Ann. § 11-51-70 — SC Code / Title 11 / Chapter 51 / Section 11-51-70
SECTION 11-51-70. Certification of costs to State Budget and Control Board prior to issuance of general obligation debt.
Status: in_force

As a condition precedent to the issuance of general obligation debt pursuant to the provisions of this chapter, the Research Centers of Excellence Review Board shall certify to the state board that at least fifty percent of the cost of each research infrastructure project is being provided by private, federal, municipal, county, or other local government sources. This portion of the cost, in the discretion of the Research Centers of Excellence Review Board, may be in the form of cash; cash equivalent; buildings including sale-lease back; gifts in kind including, but not limited to, land, roads, water and sewer, and maintenance of infrastructure; facilities and administration costs; equipment; or furnishings.
S.C. Code Ann. § 11-11-110 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-110
SECTION 11-11-110. Expenses of certain committee chairmen of the General Assembly.
Status: in_force

The Chairman of the Ways and Means Committee of the House of Representatives and the Chairman of the Finance Committee of the Senate shall receive, in addition to their per diem, their actual traveling expenses, to be audited and approved by the Comptroller General.
S.C. Code Ann. § 11-41-40 — SC Code / Title 11 / Chapter 41 / Section 11-41-40
SECTION 11-41-40. Issuance of bonds pursuant to chapter.
Status: in_force

To obtain funds for allocation to the department or to the State or agency, instrumentality, or political subdivision, as the case may be, for financing of infrastructure, there are issued from time to time state general obligation economic development bonds under the conditions prescribed by this chapter. Subject to Section 11-41-90(6), bonds for an economic development project may be issued in one or more series, pursuant to one or more notifications required by Section 11-41-70. Effect of Amendment The 2013 amendment added the last sentence, relating to Sections 11-41-70 and 11-41-90.
S.C. Code Ann. § 11-3-185 — SC Code / Title 11 / Chapter 3 / Section 11-3-185
SECTION 11-3-185. Warrant requisitions for expenditure of money appropriated by General Assembly; requisition of funds in favor of state institution treasurer.
Status: in_force

The expenditure of money appropriated by the General Assembly is by warrant requisitions directed to the Comptroller General. Upon receipt of the requisition, accompanied by invoices or other satisfactory evidence of the propriety of the payment, and itemized according to standard budget classifications, the Comptroller General shall issue a warrant on the State Treasurer to the payee designated in the requisition. Requisitions for warrants may not be processed for amounts less than one dollar. Upon approval and designation by the Department of Administration, state institutions may requisition funds in favor of their own treasurer, itemized only to the extent of the purpose of the appropriation as expressed in the act or joint resolution appropriating the funds, and may deposit these funds in the name of the institution in the bank or banking institutions designated by the State Treasurer, and disburse these funds by check in order to meet the purposes of the appropriation. Strict account must be kept of all these expenditures according to standard budget classifications. Money may be drawn only when actually owing and due. The Comptroller General shall establish rules and regulations for the uniform reimbursement, remittance, and transfers of funds to the general fund of the State as required by law. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-44-65 — SC Code / Title 11 / Chapter 44 / Section 11-44-65
SECTION 11-44-65. Tax treatment of capital gain or loss on sale or exchange of credit assets.
Status: repealed

(A) For purposes of this section: (1) "Angel investor taxpayer" means a taxpayer who invested in a capital asset and as a result of that investment was eligible to claim the tax credit allowed pursuant to this chapter. (2) "Credit asset" means a capital asset acquired by an angel investor taxpayer who was eligible to claim the tax credit allowed pursuant to this chapter with respect to the acquisition. (3) "Net capital gain" is as defined in Internal Revenue Code Section 1222 and related sections. (4) "Net capital loss" is as defined in Internal Revenue Code Section 1211(b), not including the limitation imposed pursuant to Section 1211(b)(1). (B)(1) If an angel investor taxpayer recognized net capital gain on the sale or exchange of credit assets in a taxable year, then the amount of net capital gain of that taxpayer eligible for the deduction otherwise allowed pursuant to Section 12-6-1150 must be reduced by the net capital gain on the sale or exchange of credit assets by the angel investor taxpayer. (2) In a separate computation in each taxable year the angel investor taxpayer shall attribute the net capital gain on credit assets to each credit asset in the ratio that the long term capital gain on each separate credit asset as a proportion of all such long term gain bears to the net capital gain reduction required pursuant to item (1). If cumulative net capital gain on a credit asset multiplied by seven percent equals the total credit claimed on the credit asset, the excess of the net capital gain attributable to this credit asset over that necessary to produce the total credit amount in the computation is deducted from the reduction otherwise required pursuant to item (1). (C)(1) If an angel investor taxpayer recognized net capital loss on the sale or exchange of credit assets in a taxable year in an amount equal to or less than the total of tax credits claimed on those credit assets, then there is added to the angel investor taxpayer's South Carolina taxable income for that taxable year the amount of the net capital loss on those credit assets not to exceed the tax credits claimed on those credit assets. (2) If an angel investor taxpayer recognized net capital loss on the sale or exchange of credit assets in a taxable year in an amount greater than the amount of the tax credits claimed on those credit assets, then there is added to the angel investor taxpayer's South Carolina taxable income for that taxable year the amount of the tax credit claimed on those credit assets. Editor's Note 2013 Act No. 80, SECTION 1.B., as amended by 2020 Act No. 138, SECTION 3.A., and SECTION 3, provide as follows: "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed." "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012." 2020 Act No. 138, SECTION 3.B., provides as follows: "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
S.C. Code Ann. § 11-57-730 — SC Code / Title 11 / Chapter 57 / Article 7 / Section 11-57-730
SECTION 11-57-730. Indemnification.
Status: in_force

Present, future, and former authority members, officers, and employees of the State Budget and Control Board, the State Fiscal Accountability Authority, the Public Employee Benefit Authority, the Retirement System Investment Commission, and contract investment managers and agents retained by the commission, as well as present, future, and former State Treasurers, officers, and employees of the State Treasurer, and contract investment managers and agents retained by the State Treasurer must be indemnified from the General Fund of the State and held harmless by the State from all claims, demands, suits, actions, damages, judgments, costs, charges, and expenses, including court costs and attorney's fees, and against all liability, losses, and damages of any nature whatsoever that these present, future, or former authority members, officers, employees, agents or contract investment managers shall or may at any time sustain by reason of any decision to restrict, reduce, or eliminate investments pursuant to this chapter. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the "Budget and Control Board", the "State Budget and Control Board" or the "board" were changed to the "State Fiscal Accountability Authority", the "authority", or the "Division of Procurement Services" of the "State Fiscal Accountability Authority", pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(B), effective July 1, 2015.
S.C. Code Ann. § 11-35-3040 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3040
SECTION 11-35-3040. Contract clauses and their administration.
Status: in_force

(1) Contract Clauses. State construction contracts and subcontracts may include clauses providing for adjustments in prices, time of performance, and other appropriate contract provisions including, but not limited to: (a) the unilateral right of a governmental body to order in writing: (i) all changes in the work within the general scope of the contract; and (ii) all changes in the time of performance of the contract which do not alter the general scope of the contract work; (b) variations occurring between estimated quantities of work in the contract and actual quantities; (c) suspension of work ordered by the governmental body; (d) site conditions differing from those indicated in the contract or ordinarily encountered. (2) Price Adjustments. (a) Adjustments in price pursuant to clauses adopted or promulgated pursuant to Section 11-35-2010 must be computed and documented with a written determination. The price adjustment agreed upon must approximate the actual cost to the contractor and all costs incurred by the contractor must be justifiably compared with prevailing industry standards, including reasonable profit. Costs must be properly itemized and supported by substantiating data sufficient to permit evaluation before commencement of the pertinent performance or as soon after that as practicable, and must be arrived at through whichever one of the following ways is the most valid approximation of the actual cost to the contractor: (i) by unit prices specified in the contract or subsequently agreed upon; (ii) by the costs attributable to the events or situations under those clauses with adjustment of profits or fee, all as specified in the contract or subsequently agreed upon; (iii) by agreement on a fixed price adjustment; (iv) in another manner as the contracting parties may mutually agree; or (v) in the absence of agreement by the parties, through unilateral determination by the governmental body of the costs attributable to the events or situations under those clauses, with adjustment of profit or fee, all as computed by the governmental body in accordance with applicable sections of the regulations issued pursuant to this chapter and subject to the provisions of Article 17 of this chapter. (b) A contractor is required to submit cost or pricing data if an adjustment in contract price is subject to the provisions of Section 11-35-1830. (3) Additional Contract Clauses. The construction contracts and subcontracts may include clauses providing for appropriate remedies that cover as a minimum: (a) specified excuses for delay or nonperformance; (b) termination of the contract for default; (c) termination of the contract in whole or in part for the convenience of the governmental body. (4) Modification of Required Clauses. The chief procurement officer may vary the clauses promulgated by the board pursuant to subsection (1) and subsection (3) of this section for inclusion in a particular construction contract if the variations are supported by a written determination that states the circumstances justifying the variations, if notice of a material variation is stated in the invitation for bids. Editor's Note 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 44, in (1)(a), in (i) and (ii), inserted "general" and made a nonsubstantive change.
S.C. Code Ann. § 11-35-10 — SC Code / Title 11 / Chapter 35 / Article 1 / Section 11-35-10
SECTION 11-35-10. Citation.
Status: in_force

This chapter shall be known and may be cited as the "South Carolina Consolidated Procurement Code".
S.C. Code Ann. § 11-35-2750 — SC Code / Title 11 / Chapter 35 / Article 7 / Section 11-35-2750
SECTION 11-35-2750. Specifications prepared by architects and engineers.
Status: in_force

The requirements of this article regarding the nonrestrictiveness of specifications apply to each solicitation and include, among other things, all specifications prepared by architects, engineers, designers, draftsmen, and land surveyors for state contracts.
S.C. Code Ann. § 11-13-80 — SC Code / Title 11 / Chapter 13 / Section 11-13-80
SECTION 11-13-80. Depositories to report deposits monthly to Comptroller General.
Status: in_force

Banks or trust companies having on deposit funds of the State shall transmit monthly to the Comptroller General a copy of the report made to the State Treasurer under the provisions of SECTION 11-13-70.
S.C. Code Ann. § 11-1-85 — SC Code / Title 11 / Chapter 1 / Section 11-1-85
SECTION 11-1-85. Covenant required.
Status: in_force

Notwithstanding any other provision of law, a tax-exempt bond issued by or on behalf of any public or private body or entity must include in the issuing indenture, ordinance, or resolution a covenant requiring the issuer to file with a central repository for availability in the secondary bond market when requested: (1) an annual independent audit, within thirty days of the issuer's receipt of the audit, and (2) event specific information, within thirty days of an event adversely affecting more than five percent of revenue or its tax base. Editor's Note 1994 Act No. 442, SECTION 2, provides as follows: "This act takes effect on the first day of the second month following approval by the Governor [approved June 16, 1994] and applies with respect to tax-exempt bond indentures executed on or after that date."
S.C. Code Ann. § 11-13-10 — SC Code / Title 11 / Chapter 13 / Section 11-13-10
SECTION 11-13-10. Vault for State Treasurer.
Status: in_force

The State Treasurer may have a safe in the vault of one of the banks or trust companies in the State, designated by the State Fiscal Accountability Authority, or a majority thereof, and, with the approval of the authority, may place and keep therein monies belonging to the State. Code Commissioner's Note At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
S.C. Code Ann. § 11-11-155 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-155
SECTION 11-11-155. Homestead Exemption Fund established.
Status: in_force

(A) The revenue from the tax imposed pursuant to Article 11, Chapter 36, Title 12 is automatically credited to a fund separate and distinct from the state general fund known as the "Homestead Exemption Fund". The Board of Economic Advisors shall account for the Homestead Exemption Fund revenue separately from general fund revenues, and the board shall make an annual estimate of the receipts by the Homestead Exemption Fund by February fifteenth of each year. This estimate shall be transmitted to the State Treasurer, Comptroller General, the Chairmen of the House Ways and Means Committee and the Senate Finance Committee, and to each school district and county. No portion of these revenues may be credited to the Education Improvement Act (EIA) Fund. (B) An amount equal to the total reimbursements paid pursuant to the provisions of Section 12-37-251 and the school operating millage portion of the reimbursements paid pursuant to Section 12-37-270 in fiscal year 2006-2007 also must be credited to the Homestead Exemption Fund. Revenue deposited in the Homestead Exemption Fund each year in an amount equal to the total reimbursements paid pursuant to the provisions of Section 12-37-251, the school operating portion of the reimbursement paid pursuant to Section 12-37-270 in fiscal year 2006-2007 shall be used together with the revenues from the additional sales and use tax imposed pursuant to Section 12-36-1110 to provide reimbursements to school districts in the manner required by law. (C) Subject to the provisions of Section 11-11-156(C), an unexpended balance in the Homestead Exemption Fund at the end of a fiscal year must remain in the Homestead Exemption Fund. (D) Earnings on the Homestead Exemption Fund must be credited to the Homestead Exemption Fund. (E) Nothing in this section prohibits appropriations by the General Assembly of additional revenues to the Homestead Exemption Fund and nothing in this section prevents the General Assembly from directing the use of these additional appropriations for specified purposes including a rollback of county operating millage on owner-occupied residential property. (F) Revenues credited to this fund must be used as provided pursuant to Section 11-11-156.
S.C. Code Ann. § 11-3-121 — SC Code / Title 11 / Chapter 3 / Section 11-3-121
SECTION 11-3-121. Advance payment of airfares and registration fees for official travel.
Status: in_force

The Comptroller General is authorized to honor vouchers in the current fiscal year for advance payment of airfares and registration fees for official travel to meetings and conferences in July and August of the next fiscal year if the advance payment results in a savings and funds are available in the requesting agency's current budget.
S.C. Code Ann. § 11-43-520 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-520
SECTION 11-43-520. Request for issuance of transportation infrastructure bonds; contents.
Status: in_force

Whenever it shall become necessary that monies be raised for qualified projects, including monies to be used to refund any transportation infrastructure bonds then outstanding, the board may make a request to the state board for the issuance of transportation infrastructure bonds pursuant to this article. This request may be in the form of a resolution adopted at any regular or special meeting of the board. The request shall set forth on the face thereof or by schedules attached thereto: (1) the amount then required for qualified projects; (2) a tentative time schedule setting forth the period of time during which the sum requested will be expended; and (3) a debt service table showing the annual principal and interest requirements for all the transportation infrastructure bonds then outstanding.
S.C. Code Ann. § 11-35-3215 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3215
SECTION 11-35-3215. Preference for resident design service; definitions; exceptions.
Status: in_force

(A) As used in this section: (1) "Design services" means architect-engineer, construction management, or land surveying services as defined in Section 11-35-2910 and awarded pursuant to Section 11-35-3220. (2) "Resident" means a business that employs, either directly or through consultants, an adequate number of persons domiciled in South Carolina to perform a majority of the design services involved in the procurement. (B) A business responding to an invitation involving design services shall submit a certification with its response stating whether the business is a resident for purposes of the procurement. Submission of a certification under false pretenses is grounds for suspension or debarment. (C) An award to a nonresident of a contract involving design services must be supported by a written determination explaining why the award was made to the selected firm. (D) In an evaluation conducted pursuant to Section 11-35-3220, a resident firm must be ranked higher than a nonresident firm if the agency selection committee finds the two firms otherwise equally qualified. (E) This section does not apply to a procurement if either the procurement does not involve construction or the design services are a minor accompaniment to a contract for nondesign services. Editor's Note 2009 Act No. 72, SECTION 6 provides as follows: "This act takes effect upon approval by the Governor and applies to solicitations issued after that date; except that Sections 1, 2, and 4 of this act take effect upon and apply to solicitations issued after the first Monday in September following approval by the Governor."
S.C. Code Ann. § 11-35-5260 — SC Code / Title 11 / Chapter 35 / Article 21 / Section 11-35-5260
SECTION 11-35-5260. Reports of number and dollar value of contracts awarded to minority firms.
Status: in_force

The Small and Minority Business Assistance Office shall report annually in writing to the Governor concerning the number and dollar value of contracts awarded for each governmental body to a firm certified as a minority firm pursuant to Section 11-35-5230 during the preceding fiscal year. These records must be maintained to evaluate the progress of this program.
S.C. Code Ann. § 11-21-30 — SC Code / Title 11 / Chapter 21 / Section 11-21-30
SECTION 11-21-30. Time of issuance.
Status: in_force

Advanced refunding pursuant to this chapter may be effected at any time under the conditions prescribed by this chapter.
S.C. Code Ann. § 11-35-3070 — SC Code / Title 11 / Chapter 35 / Article 9 / Section 11-35-3070
SECTION 11-35-3070. Approval of architectural, engineering, or construction changes which do not alter general scope or intent or exceed approved budget.
Status: in_force

Consistent with any applicable regulation of the board, a governmental body may approve and pay for amendments to architectural/engineering contracts and change orders to construction contracts, within the governmental body's authority, which do not alter the general scope or intent of the project and which do not exceed the previously approved project budget. Editor's Note 2008 Act No. 174, SECTION 21, provides as follows: "This act takes effect upon approval by the Governor and applies to solicitations issued on or after January 1, 2008." 2019 Act No. 41, SECTION 80, provides as follows: "SECTION 80. This act takes effect upon approval by the Governor and applies to solicitations issued after that date." Effect of Amendment 2019 Act No. 41, SECTION 45, substituted "Consistent with any applicable regulation of the board, a" for "A", "authority" for "certification" and "general scope" for "original scope".
S.C. Code Ann. § 11-43-410 — SC Code / Title 11 / Chapter 43 / Article 3 / Section 11-43-410
SECTION 11-43-410. Exemption from taxation and assessment.
Status: in_force

Any bonds issued by the bank, the transfer of bonds, and the income from them, are free from taxation and assessment of every kind by the State and by the local governments and other political subdivisions of the State.
S.C. Code Ann. § 11-37-270 — SC Code / Title 11 / Chapter 37 / Section 11-37-270
SECTION 11-37-270. Legislative declaration of intent.
Status: in_force

(A) Act 682 of 1988 created the South Carolina Resources Authority which proposes to issue its revenue bonds in accordance with the act for the purpose of refunding outstanding bonds of local governmental units held by the Farmers Home Administration. It is desirable that the authority issue its bonds within the next ninety days so that the proceeds may be used to enable local governmental units to pay off outstanding loans to the Farmers Home Administration at a substantial discount which will not be available after May 9, 1989. (B) Act 682 of 1988 contains features authorizing the issuing of bonds for the benefit of private eleemosynary companies; permitting bond proceeds to be used to acquire local obligations payable from property taxes; permitting the imposition of local property taxes by the Comptroller General for the repayment of local obligations and providing for the payment of local obligations and authority bonds from state appropriations. It is anticipated that these features will be presented to the court for a confirmation of their constitutionality. In the meantime, the authority shall proceed in order to meet the deadline established by the Farmers Home Administration to issue, pursuant to Act 682 of 1988, bonds which can be issued independent of the features described above. The General Assembly declares that the remaining portion of Act 682 of 1988 is capable of being executed in accordance with the legislative intent, wholly independent of those features described above, or any of them. Editor's Note 1988 Act No. 682, referred to in this section, has been codified as SECTION 11-37-10 et seq.
S.C. Code Ann. § 11-48-110 — SC Code / Title 11 / Chapter 48 / Section 11-48-110
SECTION 11-48-110. Interpretation with Chapter 48.
Status: in_force

This Chapter 48 is intended as an aid to the enforcement of, and not as an amendment or modification to, Chapter 47 of this title. The General Assembly hereby finds and declares that any agreement of the State to enforce Chapter 47 of this title pursuant to the Master Settlement Agreement shall not be modified, varied, amended, supplemented, increased, or extended by the enactment and enforcement of this Chapter 48. Without limiting the generality of the foregoing, the interpretation and the method or degree of enforcement of this Chapter 48 shall not be allowed to serve as evidence that the provisions of Chapter 47 of this title are not being diligently enforced as contemplated by the Master Settlement Agreement.
S.C. Code Ann. § 11-51-80 — SC Code / Title 11 / Chapter 51 / Section 11-51-80
SECTION 11-51-80. Information provided to Joint Bond Review Committee and State Budget and Control Board prior to issuance of general obligation debt.
Status: in_force

Before the issuance of general obligation debt, the Research Centers of Excellence Review Board shall provide the Joint Bond Review Committee and the state board the following: (1) a description of each research infrastructure project for which general obligation debt is requested to be issued; (2) a certification by the Research Centers of Excellence Review Board that the provisions of Section 11-51-70 have been met, that the source of funding has been identified, and that each research infrastructure project complies with the provisions of this chapter; (3) the total cost of each research infrastructure project and the principal amount of general obligation debt requested to be issued; (4) a tentative time schedule setting forth the period of time during which the proceeds of the general obligation debt requested to be issued will be expended; (5) a debt service schedule showing the annual principal and interest requirements, at a projected current rate of interest, on the requested general obligation debt; (6) the total amount of the general obligation debt issued pursuant to this chapter; and (7) a debt service schedule showing the principal and interest requirements for the general obligation debt outstanding and the proposed general obligation debt at a projected current rate of interest.
S.C. Code Ann. § 11-15-460 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-460
SECTION 11-15-460. Interest rate.
Status: in_force

These refunding bonds must bear interest at those rates as may be determined by the governing body of the issuer. However, before the issuance of any refunding bonds, except in the case of the refunding of Qualified School Construction Bonds issued pursuant to the provisions of 26 U.S.C. Section 54F, the governing body shall determine that a savings can be effected through the issuance of these refunding bonds. Editor's Note 2009 Act No. 68 SECTION 6 provides as follows: "The powers and authorizations conferred by this act shall be in addition to all other powers and authorizations previously conferred upon the State Superintendent of Education, the State Department of Education, and the school districts of the State. The provisions of this act are remedial in nature and shall be liberally construed in order to give full force and effect to its provisions."