S.C. Code Ann. § 11-51-125 — SC Code / Title 11 / Chapter 51 / Section 11-51-125
SECTION 11-51-125. Allocation and use of funds; authorization for additional bonds; project approval.
Status: in_force

(A) Of the funds authorized pursuant to this act, public institutions of higher learning as defined in Section 59-103-5, not including research universities, are authorized twelve percent of the total amount authorized under Section 11-51-40. The eligible institutions may only use the funds authorized under this subsection for deferred maintenance projects. The twelve percent authorized for the institutions, not including research universities, must be allocated by the Commission of Higher Education to eligible institutions as follows: (1) sixty-five percent of the total twelve percent must be allocated based on a reported deferred maintenance needs list from each eligible institutions; and (2) thirty-five percent of the total twelve percent must be allocated by FTE student enrollment from the prior academic year at each eligible institution. The Research Centers of Excellence Review Board has no jurisdiction over these projects and no matching requirement is imposed for these projects. The Joint Bond Review Committee must review and the State Fiscal Accountability Authority must approve all projects. (B)(1) After the aggregate total of bonds issued pursuant to this chapter equals two hundred and fifty million dollars, all further proceeds of bonds authorized pursuant to this chapter must be authorized as follows: (a) eighty-eight percent for the research universities in the manner and for the purposes provided pursuant to this chapter; (b) twelve percent to public institutions of higher learning as defined in Section 59-103-5, not including the research universities, for deferred maintenance projects allocated as follows: (i) one-half for the state's ten comprehensive teaching universities distributed among them as provided in item (2) of this subsection; and (ii) one-half for the state's two-year and technical colleges distributed among them as provided in item (2) of this subsection. (2) The Commission on Higher Education shall distribute amounts allocated pursuant to item (1)(b)(i) and (ii) of this subsection among the two categories of eligible institutions as follows: (a) thirty-five percent in equal shares to each eligible institution; and (b) sixty-five percent based on FTE student enrollment from the prior academic year at eligible institutions. (3) The Research Centers of Excellence Review Board has no jurisdiction over projects funded by bonds issued pursuant to item (1)(b) of this subsection and no matching requirement is imposed for these projects. All projects must be approved by the Joint Bond Review Committee and the State Budget and Control Board. Effect of Amendment 2014 Act No. 121, SECTION 20.L.2, in the undesignated paragraph following subsection (A)(2), substituted "must review and the State Fiscal Accountability Authority" for "and the State Budget and Control Board".
S.C. Code Ann. § 11-9-50 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-50
SECTION 11-9-50. Accounts to be itemized and verified.
Status: in_force

All accounts shall be itemized and verified.
S.C. Code Ann. § 11-31-40 — SC Code / Title 11 / Chapter 31 / Section 11-31-40
SECTION 11-31-40. Duties of state board and State Treasurer.
Status: in_force

It shall be the duty of the state board to insure the safety of all coupon bonds and their appurtenant coupons exchanged under the provisions of this chapter and to provide for their destruction upon the payment of the registered bond for which it was exchanged. It shall likewise be the duty of the State Treasurer to establish a proper registry for all fully registered bonds and to effect payment of the interest to become due thereon by check or draft payable to the registered holder of such fully registered bond at the address shown on the registration books. Payment of the principal of such fully registered bonds shall be effected only upon delivery thereof for cancellation to the State Treasury or any agency of the State Treasury empowered to act by the state board.
S.C. Code Ann. § 11-49-10 — SC Code / Title 11 / Chapter 49 / Section 11-49-10
SECTION 11-49-10. Short title.
Status: in_force

This chapter may be cited as the "Tobacco Settlement Revenue Management Authority Act". Editor's Note 2000 Act No. 387, Part II, SECTION 69A.6, provides as follows: "If a provision of this subsection, including the provisions of Chapter 49, Title 11 of the 1976 Code as added by it, or the application of a provision to a person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this subsection or the chapter added by it which may be given effect without the invalid provision or application. To this end, the provisions of this subsection and the chapter added by it are severable."
S.C. Code Ann. § 11-57-700 — SC Code / Title 11 / Chapter 57 / Article 7 / Section 11-57-700
SECTION 11-57-700. Prohibition of fund investment with person identified on list created pursuant to Section 11-57-310; divestment.
Status: in_force

(A) Neither the Retirement System Investment Commission or the State Treasurer may invest funds with a person that is identified on a list created pursuant to Section 11-57-310 as a person engaging in investment activities in Iran as described in Section 11-57-300. (B) Any existing investments in violation of subsection (A) as of the effective date of this act, must be divested within one hundred twenty days of the effective date of this act.
S.C. Code Ann. § 11-37-260 — SC Code / Title 11 / Chapter 37 / Section 11-37-260
SECTION 11-37-260. State Treasurer may withhold monies from defaulting local governments.
Status: in_force

If at any time any local government fails to effect the punctual payment of the principal of or interest on its local obligations, the State Treasurer shall withhold from the local government sufficient monies from any state appropriation to the local government and apply so much as is necessary to the payment of the principal of and interest on the local obligation of the government. All appropriations of local governments of the State are subject to the provisions of this section. If the local government does not receive state aid in an amount necessary to repay the obligation, the Comptroller General may levy and require the applicable county treasurer to collect and remit to the authority an ad valorem tax sufficient to meet the obligation.
S.C. Code Ann. § 11-45-70 — SC Code / Title 11 / Chapter 45 / Section 11-45-70
SECTION 11-45-70. Venture capital investment requirements.
Status: in_force

In order for a designated investor group to place monies held in its revolving fund with an investor for the purpose of making a venture capital investment, the following requirements must be met: (1) No investment by an investor in any one investment may exceed five million dollars or fifteen percent of the committed capital of the investor, whichever is less. In addition, an investor must agree to invest at least an amount equal to the designated investor group's capital commitment to that investor in South Carolina based companies. (2)(a) While each designated investor group shall give preference to investors, otherwise qualified, that agree to maintain either a headquarters or an office staffed by an investment professional in South Carolina, investments may be made with investors not principally located in South Carolina if the investors are otherwise qualified pursuant to this chapter and, together with related companies, have other venture capital investments in South Carolina or in South Carolina-based companies or can provide evidence to the authority of prior investments in South Carolina or South Carolina-based companies at least equal to the total amount of monies placed with that investor by the designated investor group. (b) "South Carolina based companies" for purposes of this chapter means any corporation, limited liability company, community development corporation or unincorporated business organization, including a general or limited partnership, that either: (i) has its principal place of business located in this State and has at least fifty percent of its gross assets and fifty percent of its employees located in this State at the time of the initial investment; or (ii) meets qualifications as may be determined by the authority and set forth in any designated investor contract. If a corporation, limited liability company, or unincorporated business organization is a member of an affiliated group, the gross assets and the number of employees of all of the members of the affiliated group, wherever those assets and employees are located, shall be included for the purpose of determining the percentage of the corporation's, company's, or organization's gross assets and employees located in this State. (3) When selecting investors with which to place venture capital investments, each designated investor group shall give preference to investors that, together with their affiliates, have on or before the date of the designated investor group's capital commitment, aggregate capital commitments of at least three times the amount of the designated investor group's capital commitment. Capital commitments of an investor and its affiliates for purposes of this requirement include private, federal, or other nonstate funds secured by the investor and its affiliates. (4) Investors must develop a repayment plan based on expected liquidity events of its portfolio investments. All repayments must occur within ten years, subject to extension as described in Section 11-45-30(11).
S.C. Code Ann. § 11-35-830 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-830
SECTION 11-35-830. Creation of the Office of State Engineer.
Status: in_force

There is created within the board, the State Engineer's Office to be headed by the State Engineer. All procurements involving construction, architectural and engineering, construction management, and land surveying services, as defined in Section 11-35-2910, and any pre-procurement and post-procurement activities in this area, must be conducted in accordance with the "Manual for Planning and Execution of State Permanent Improvements" and with any regulations promulgated by the board, unless otherwise provided in this code by specific reference to the State Engineer's Office.
S.C. Code Ann. § 11-40-200 — SC Code / Title 11 / Chapter 40 / Section 11-40-200
SECTION 11-40-200. Defaults by local governments; withholding of state funds; exceptions.
Status: in_force

(A) If a local government fails to collect and remit in full all amounts due to the authority on the date such amounts are due under the terms of any bond, revenue bond, note, or other obligation of the local government, the authority shall notify the State Treasurer who, subject to the withholding of amounts under Section 14, Article X of the State Constitution, shall withhold all or a portion of such funds of the State and all funds administered by the State, its agencies, boards, and instrumentalities allotted or appropriated to such local government and apply so much as is necessary to the payment of this amount. (B) Nothing contained in this section mandates the withholding of funds allocated to a local government which would violate contracts to which the State is a party, the requirements of federal law imposed on the State, or judgments of any court binding the State.
S.C. Code Ann. § 11-11-20 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-20
SECTION 11-11-20. Information to be secured by Governor.
Status: in_force

On or before the first day of November in each year the Governor and his assistants shall complete a careful survey of all the departments, bureaus, divisions, officers, boards, commissions, institutions and other agencies and undertakings of the State, through which it shall be in possession of the working knowledge upon which to base his recommendations to the General Assembly. 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).
S.C. Code Ann. § 11-7-10 — SC Code / Title 11 / Chapter 7 / Section 11-7-10
SECTION 11-7-10. Selection; assistants.
Status: in_force

The State Fiscal Accountability Authority shall select the State Auditor, who shall select necessary assistants in conformity with the appropriations for the office. Effect of Amendment 2014 Act No. 121, SECTION 7.S.1, substituted "Fiscal Accountability Authority" for "Budget and Control Board".
S.C. Code Ann. § 11-35-4880 — SC Code / Title 11 / Chapter 35 / Article 19 / Section 11-35-4880
SECTION 11-35-4880. Public procurement units in compliance with code requirements.
Status: in_force

Where the public procurement unit administering a cooperative purchase complies with the requirements of this code, any public procurement unit participating in such a purchase shall be deemed to have complied with this code. Public procurement units shall not enter into a cooperative purchasing agreement for the purpose of circumventing this code. 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 71, in the first sentence, deleted "or external procurement activity" following "Where the public procurement unit".
S.C. Code Ann. § 11-35-1250 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-1250
SECTION 11-35-1250. Authority to contract for auditing services.
Status: in_force

No contract for auditing or accounting services shall be awarded without the approval of the State Auditor except where specific statutory authority is otherwise provided.
S.C. Code Ann. § 11-25-20 — SC Code / Title 11 / Chapter 25 / Article 1 / Section 11-25-20
SECTION 11-25-20. Additional powers.
Status: in_force

The Department of Administration may inquire at any time into all matters pertaining to the contracts for the public printing and the distribution of official reports and publications and may prevent unnecessary printing, binding, lithographing, or engraving. It may see that all extraneous matter is omitted from any publication paid for out of the public printing fund or any fund of any state department or state institution and may recommend from time to time to the General Assembly appropriate remedial legislation. The Department of Administration has control of the style and arrangement of all public printing except for legislative printing and printing otherwise provided 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. § 11-21-20 — SC Code / Title 11 / Chapter 21 / Section 11-21-20
SECTION 11-21-20. Issuance of advanced refunding bonds authorized; purpose; amount.
Status: in_force

Any public agency may utilize the provisions of either Article 5, Chapter 15, Title 11 (the Refunding Act) or Chapter 17, Title 6 (the Revenue Bond Refinancing Act) as herein amplified, to effect the refunding of any of its outstanding bonds and the provisions of this chapter shall extend to and are hereby made available to the governing boards of all public agencies in order to refund outstanding bonds. If and when the authorizations of this chapter are utilized, the provisions of this chapter shall control in the event of conflict between this chapter and any provision in either the Refunding Act or the Revenue Bond Refinancing Act. To the extent that they may be required in order to effect an advanced refunding, refunding bonds may be issued in such amounts as shall be required to provide for the payment of (a) all outstanding bonds maturing subsequent to the date as of which refunding bonds shall be issued and (b) such further amount as shall be required to effect the payment of any redemption premium of the outstanding bonds, the amount required to fund interest on the outstanding bonds to the date fixed for redemption in the plan of advancing refunding, if the funding of interest on the outstanding bonds shall prove necessary, and any deposits required in connection with the refunding bonds and expenses incurred by the governing board in connection with the issuance of refunding bonds. Provided, if any governing board shall find it necessary to effect improvements at the same time as it shall undertake an advanced refunding with refunding bonds issued pursuant to Chapter 17, Title 6 and this chapter, refunding bonds in addition to those otherwise required may be issued to such extent as may be necessary to meet the costs of such improvements.
S.C. Code Ann. § 11-43-380 — SC Code / Title 11 / Chapter 43 / Article 3 / Section 11-43-380
SECTION 11-43-380. Form and execution of bonds.
Status: in_force

Bonds of the bank must be in a form and must be executed in a manner prescribed by the bank.
S.C. Code Ann. § 11-15-590 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-590
SECTION 11-15-590. Deposit and use of proceeds.
Status: in_force

The proceeds derived from the sale of these bonds must be deposited in a special fund, separate and distinct from all other funds, and applied solely to the purposes for which the bonds are issued, except that the accrued interest, if any, must be used to discharge in part the first interest to become due on the bonds.
S.C. Code Ann. § 11-11-350 — SC Code / Title 11 / Chapter 11 / Article 3 / Section 11-11-350
SECTION 11-11-350. Estimates of planned general fund expenditures.
Status: in_force

Each state agency, department, institution, or entity receiving in the aggregate one percent or more of the state's general fund appropriations for any fiscal year shall provide to the Revenue and Fiscal Affairs Office and the Executive Budget Office an estimate of its planned general fund expenditures for the next three fiscal years. This data, in conjunction with the Board of Economic Advisors' long-term revenue estimate, must be compiled by the Revenue and Fiscal Affairs Office and the Executive Budget Office into a three-year financial plan that will assist the State in determining and planning for its long-term financial commitments. The plan must be updated annually and prepared for submission to the State Fiscal Accountability Authority and the Governor, the Speaker of the House of Representatives, and the President of the Senate during the second quarter of each 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). Effect of Amendment 2019 Act No. 1, SECTION 43, in the third sentence, substituted "President of the Senate" for "President Pro Tempore of the Senate", and made a nonsubstantive change.
S.C. Code Ann. § 11-14-130 — SC Code / Title 11 / Chapter 14 / Section 11-14-130
SECTION 11-14-130. Defeasance not to impair obligations of contract between issuer and holder.
Status: in_force

It is not intended that any action pursuant to the authorization of this chapter shall impair any obligation of any contract between the issuer and any holder of any bond, note or other obligation of the issuer and, if for any reason any trust established shall fall, in whole or in part, to effect the payments intended or required to be made, or if in the instance of debt assumed as contemplated by SECTION 11-14-120, the public agency or political unit assuming such debt shall fail to pay such assumed debt, in whole or in part, then in each instance the issuer shall forthwith effect payment of such principal or interest through the means and in the manner originally provided.
S.C. Code Ann. § 11-37-100 — SC Code / Title 11 / Chapter 37 / Section 11-37-100
SECTION 11-37-100. Bonds to be authorized by resolution of authority.
Status: in_force

The bonds of the authority must be authorized by a resolution of the authority. The bonds must bear the date and mature at the time which the 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 and at the time, and be subject to redemption or repurchase and contain other provisions determined by the authority prior to their issuance. The bonds may bear interest payable at a time and at a rate as determined by the authority pursuant to the provisions of Section 11-9-350, including the determination 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. The State Treasurer shall issue the bonds of the authority not later than sixty days upon the resolution of the authority authorizing the issuance of the bonds. The authority must only issue bonds for those projects recommended to the authority by the Water Resources Coordinating Council as established in Section 11-37-200.
S.C. Code Ann. § 11-50-150 — SC Code / Title 11 / Chapter 50 / Section 11-50-150
SECTION 11-50-150. Deposit of money of authority; investment of funds.
Status: in_force

All money of the authority and in the Rural Infrastructure Fund, except as authorized by law or provided in this chapter, must be deposited with and invested by the State Treasurer. Funds of the authority not needed for immediate use or disbursement may be invested by the State Treasurer in obligations or securities which are declared to be legal obligations by the provisions of Section 11-9-660.
S.C. Code Ann. § 11-9-310 — SC Code / Title 11 / Chapter 9 / Article 3 / Section 11-9-310
SECTION 11-9-310. Issuance of bonds, notes, certificates of indebtedness, or other obligations in small denominations.
Status: in_force

The State Fiscal Accountability Authority and any other officers of the State authorized by law to issue or sell obligations of the State may, when in need of credit by loans of cash, offer to the investing public by and through such advertisement as may be deemed proper, in small denominations, bonds, notes, certificates of indebtedness or other obligations of the State, upon such terms and at such rates of interest as such board or officers may determine, not to exceed the legal rate, and payable at such intervals as such board or officers may deem proper. But no such obligations shall be sold for less than par and accrued interest to date of delivery. 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. § 11-25-430 — SC Code / Title 11 / Chapter 25 / Article 7 / Section 11-25-430
SECTION 11-25-430. Revolving fund for purchase of office supplies and other commodities.
Status: in_force

From the accumulated unexpended balances of the revolving fund heretofore appropriated for the purchase of office supplies by the Department of Administration the sum of twenty thousand dollars shall be maintained by the State Treasurer as a permanent and continuing revolving fund for the purchase of office supplies or such other commodities as the General Assembly may hereafter direct, to be administered by the board. Should the fund exceed twenty thousand dollars at the end of any fiscal year the surplus shall be transferred to 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. § 11-11-420 — SC Code / Title 11 / Chapter 11 / Article 5 / Section 11-11-420
SECTION 11-11-420. Limitation on permanent state positions; emergency suspension.
Status: in_force

(A) In any fiscal year, the ratio of the number of permanent state positions to the total annually up-dated resident population of the State may not exceed that ratio of permanent state positions as existed in fiscal year 1980-81 compared to the total resident population of the State as determined by the 1980 decennial census. The number of permanent state positions shall be based on full-time annual equivalency funded in whole or in part by appropriations of the General Assembly as defined by the South Carolina Classification and Compensation System or its successor. (B) To insure compliance with subsection (A) of this section, the Executive Budget Office shall annually and prior to December first determine the total number of permanent state positions based on full-time annual equivalency and the total resident population of the State for which data are available. (C) The Governor may not present to the Ways and Means Committee of the House of Representatives and the committee may not introduce any appropriation bill which provides for an increase in state employment in excess of the ratio prescribed in subsection (A) of this section. The committee may alter the specific positions created or eliminated so long as the total employment remains within the prescribed limitation. (D) Notwithstanding the provisions of subsection (A) of this section, the General Assembly may declare an emergency and suspend the employment limitation for any one fiscal year for a specific number by a special vote as provided in this subsection by enactment of legislation which relates only to that matter. The authorized state employment for the fiscal year following the suspension must be determined as if the suspension had not occurred and, for purposes of determining subsequent limits, must be presumed to have been the maximum limit which could have been authorized if such limitation had not been suspended. The special vote referred to in this subsection means an affirmative vote in each branch of the General Assembly by two-thirds of the members present and voting, but not less than three-fifths of the total membership in each branch. (E) When an appropriation bill is under consideration by the House of Representatives or the Senate, the presiding officer of either House of the General Assembly shall not allow to be introduced an amendment to the bill which increases the number of state employees unless there is attached to the amendment a certificate of the Revenue and Fiscal Affairs Office that the increase in state employees is within the limitations prescribed. Validity For the validity of (D) of this section, see Pinckney v. Peeler, 862 S.E.2d 906 (S.C. 2021). 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).
S.C. Code Ann. § 11-50-10 — SC Code / Title 11 / Chapter 50 / Section 11-50-10
SECTION 11-50-10. Short title.
Status: in_force

This chapter may be referred to as the "South Carolina Rural Infrastructure Act".
S.C. Code Ann. § 11-3-210 — SC Code / Title 11 / Chapter 3 / Section 11-3-210
SECTION 11-3-210. Accounts of all persons distributing public money.
Status: in_force

The Comptroller General shall enter in books, kept for that purpose, such statements of the accounts of persons having the distribution of public money, directed by law to be rendered to him, as will enable him, at any time, to show how such accounts stand between the parties, respectively.
S.C. Code Ann. § 11-9-20 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-20
SECTION 11-9-20. Disbursing officers exceeding or transferring appropriations.
Status: in_force

(A) It is unlawful for an officer, clerk, or other person charged with disbursements of state funds appropriated by the General Assembly to exceed the amounts and purposes stated in the appropriations, or to change or shift appropriations from one item to another. Transfers may be authorized by the General Assembly in the annual appropriation act for the State. (B) An officer, clerk, or other person who violates the provisions of this section is guilty of malfeasance in office. The Governor may suspend immediately the officer and shall investigate the conduct of the person. (C) If after the investigation the person is found guilty, the Governor shall suspend him from office. In addition to the suspension, the officer is guilty of a misdemeanor and, upon conviction, must be fined in the discretion of the court or imprisoned not more than three years.
S.C. Code Ann. § 11-19-50 — SC Code / Title 11 / Chapter 19 / Section 11-19-50
SECTION 11-19-50. Necessity of holding election before issuance of obligations.
Status: in_force

Whenever the favorable result of an election is prescribed by the Constitution or applicable statute as a condition precedent to the undertaking of the project by the borrower, then prior to the issuance of any obligations pursuant to this chapter, the election shall have been held and shall have resulted favorably to the undertaking of the project.
S.C. Code Ann. § 11-9-90 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-90
SECTION 11-9-90. Sale of state general obligation bonds of different issues as though they constituted a single issue.
Status: in_force

Whenever the Governor and the State Treasurer shall be empowered by law to issue general obligation bonds of the State, they may receive bids on more than one issue at the same time and, in such event, may impose as a condition to bidding a requirement that all who shall bid shall submit proposals for all bonds then offered as though such bonds constituted only a single issue of bonds. Under such circumstances, the fact that more than one issue of bonds is offered, and the maturity schedules of the issues are dissimilar, shall be disregarded and the bonds shall be awarded to the bidder whose bid prescribes the lowest interest cost, calculated on the basis that all bonds then issued constituted but a single issue of bonds, rather than more than one issue of bonds.
S.C. Code Ann. § 11-35-810 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-810
SECTION 11-35-810. Creation of Materials Management Office.
Status: in_force

There is hereby created, within the Division of Procurement Services, a Materials Management Office to be headed by the Materials Management Officer. 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 12, substituted "Division of Procurement Services" for "Office of General Services".
S.C. Code Ann. § 11-11-140 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-140
SECTION 11-11-140. Limits on appropriation of surplus general fund revenues; revenue derived from change in accounting method.
Status: in_force

(A)(1) In the Governor's annual budget recommendation to the General Assembly, no recommendation may be made for the appropriation of surplus general fund revenues in excess of amounts officially recognized as such by the Board of Economic Advisors. (2) In any bill or joint resolution appropriating general fund revenues, no surplus general fund revenue may be appropriated in excess of amounts officially recognized as such by the Board of Economic Advisors. (B) In making the annual budget recommendation to the General Assembly, the Governor shall not incorporate or realize any revenue derived on the basis of any future change in a method of accounting, as determined by the Revenue and Fiscal Affairs Office, unless the change in a method of accounting is based on statutory authority specifically granted to the Revenue and Fiscal Affairs Office or a statutory enactment changing the method of accounting. 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).
S.C. Code Ann. § 11-35-2210 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2210
SECTION 11-35-2210. Right to inspect plant.
Status: in_force

The appropriate chief procurement officer or his designee is authorized, at reasonable times, to inspect the part of the plant or place of business of a contractor or subcontractor which is related to the performance of a contract awarded or to be awarded by the State.
S.C. Code Ann. § 11-15-270 — SC Code / Title 11 / Chapter 15 / Article 3 / Section 11-15-270
SECTION 11-15-270. Sale of bonds in sinking fund.
Status: in_force

No sale of bonds bought by the custodian for the investment of the sinking fund shall be made except after advertisement of such proposed sale for the same length of time and in the same manner and in the same newspapers as is provided in SECTION 11-15-250 for the purchasing of bonds.
S.C. Code Ann. § 11-5-90 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-90
SECTION 11-5-90. Remitting funds from United States property in Clarks Hill project area to counties.
Status: in_force

The Treasurer shall remit all funds received by him from the United States Government, or any agency thereof, when such funds are derived from the sale or lease of any property belonging to the United States Government and located in the Clarks Hill project area, to the treasurer of the county in which the transaction arose. Any funds received by the county treasurer shall be placed in the general county fund.
S.C. Code Ann. § 11-35-2050 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2050
SECTION 11-35-2050. Void contract terms or conditions.
Status: in_force

Any term or condition in any contract entered into by the State that requires the State to defend, indemnify, or hold harmless another person, must be void ab initio, unless such term is expressly authorized by law. All contracts must be governed by South Carolina law. Without limiting the applicability of Section 11-35-4230, the exclusive venue for any dispute arising out of or related to any contract is in South Carolina. Any contract containing any terms or conditions inconsistent with any of the foregoing are otherwise enforceable as if it did not contain such term or condition. 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. § 11-35-710 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-710
SECTION 11-35-710. Exemptions.
Status: in_force

(A) The board, upon the recommendation of the chief procurement officer, may exempt governmental bodies from purchasing certain items through the respective chief procurement officer's area of responsibility. The board may exempt specific supplies, services, information technology, or construction from the purchasing procedures required in this chapter and for just cause by unanimous written decision limit or may withdraw exemptions provided for in this section. The following exemptions are granted from this chapter: (1) the construction, maintenance, and repair of bridges, highways, and roads; vehicle and road equipment maintenance and repair; and other emergency-type parts or equipment utilized by the Department of Transportation or the Department of Public Safety; (2) the purchase of raw materials by the South Carolina Department of Corrections, Division of Prison Industries; (3) South Carolina State Ports Authority; (4) Division of Public Railways of the Department of Commerce; (5) South Carolina Public Service Authority; (6) expenditure of funds at state institutions of higher learning derived wholly from athletic or other student contests, from the activities of student organizations, and from the operation of canteens and bookstores, except as the funds are used for the procurement of construction, architect-engineer, construction-management, and land surveying services; (7) livestock, feed, and veterinary supplies; (8) articles for commercial sale by all governmental bodies; (9) fresh fruits, vegetables, meats, fish, milk, and eggs; (10) South Carolina Arts Commission and South Carolina Museum Commission for the purchase of one-of-a-kind items such as paintings, antiques, sculpture, and similar objects. Before a governmental body procures the objects, the head of the purchasing agency shall prepare a written determination specifying the need for the objects and the benefits to the State. The South Carolina Arts Commission shall review the determination and forward a recommendation to the board for approval; (11) published books, periodicals, and technical pamphlets; (12) South Carolina Research Authority; (13) the purchase of supplies, services, or information technology by state offices, departments, institutions, agencies, boards, and commissions or the political subdivisions of this State from the South Carolina Department of Corrections, Division of Prison Industries; (14) Medical University Hospital Authority, if the Medical University Hospital Authority has promulgated a procurement process in accordance with its enabling provision; (15) if approved in writing by the State Engineer in advance, and if some aspect of the overall transaction is otherwise approved by the board in advance of the acquisition, an acquisition of construction from an eleemosynary corporation or foundation, or a wholly owned business thereof, established solely for the governmental body's benefit, but only if the eleemosynary corporation or foundation acquires the construction on behalf of or for the use of the governmental body and does so pursuant to this code, as required by Section 11-35-40(4). (B) The State Fiscal Accountability Authority shall maintain and post publicly a running list of all currently effective actions taken by the board pursuant to subsection (A). 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 11, inserted the (A) identifier; in (A), in the first sentence, substituted "chief procurement officer" for "designated board office", and inserted (15); added (B); and made a nonsubstantive change.
S.C. Code Ann. § 11-35-1810 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-1810
SECTION 11-35-1810. Responsibility of bidders and offerors.
Status: in_force

(1) Determination of Responsibility. Responsibility of the bidder or offeror shall be ascertained for each contract let by the State based upon full disclosure to the procurement officer concerning capacity to meet the terms of the contracts and based upon past record of performance for similar contracts. The board shall by regulation establish standards of responsibility that shall be enforced in all state contracts. (2) Determination of Nonresponsibility. A written determination of nonresponsibility of a bidder or offeror shall be made in accordance with regulations promulgated by the board. The unreasonable failure of a bidder or offeror to supply information promptly in connection with an inquiry with respect to responsibility may be grounds for a determination of nonresponsibility with respect to such bidder or offeror. (3) Right of Nondisclosure. Except as otherwise provided by law, information furnished by a bidder or offeror pursuant to this section shall not be disclosed outside of the offices of the board, the Office of the Attorney General, the using agency, or the purchasing agency without prior written consent by the bidder or offeror. (4) Public procurement units, as defined in Section 11-35-4610, may provide information to one another relating to the responsibility or prior performance of a bidder or offeror, or provide any other information about a bidder or offeror that is otherwise related to procurement. Any person affiliated with a public procurement unit in an official capacity, who provides such information in good faith, is immune from civil and criminal liability which might otherwise result by reason of his actions. In all such civil or criminal proceedings, good faith is a rebuttable presumption. 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 29, in (3), in the second sentence, inserted "the using agency," and added (4).
S.C. Code Ann. § 11-9-280 — SC Code / Title 11 / Chapter 9 / Article 3 / Section 11-9-280
SECTION 11-9-280. Borrowing to pay operating expenses of the State.
Status: in_force

In anticipation of the receipt of the taxes and other income of the State for any fiscal year, applicable to the payment of the expenses of the ordinary and current business of the State, the State Fiscal Accountability Authority may borrow on the credit of the State, at a rate of interest not exceeding the legal rate, so much money as the authority deems necessary to finance the ordinary and current business of the State for such fiscal year or to repay any money borrowed for such purposes with interest thereon. The authority may issue and sell notes or other obligations of the State for the money hereby authorized to be borrowed. The total amount of indebtedness, at any one time outstanding, incurred to finance the ordinary and current business of the State for the then current fiscal year, shall not exceed seventy-five per cent of the State's estimated current income from the receipt of taxes and other revenue applicable to the payment of the expenses of the ordinary and current business of the State for such fiscal year and the amount of taxes and other revenue owing and due to the State but unpaid for the fiscal year next preceding. Out of the monies borrowed under the provisions of this section the State Treasurer may pay any borrowings for or claims against the current and ordinary business of the State for the fiscal year next preceding to the end that no deficit may be ever created in the general funds 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. § 11-15-220 — SC Code / Title 11 / Chapter 15 / Article 3 / Section 11-15-220
SECTION 11-15-220. Collection for sinking fund applied to payment of bonds unnecessary when bonds mature within twelve months.
Status: in_force

When such collection for a sinking fund is to be applied to the payment of bonds maturing within twelve months from the date of such collection, then such collection to the amount of the bonds so about to mature need not be invested. And such investments need not be made unless the amount on hand for investment shall amount to one thousand dollars, it being the intention of this section and SECTION 11-15-210 that whenever the amount of any sinking fund collected shall be one thousand dollars or more the investment of one thousand dollars or any multiple thereof on hand shall then be made.
S.C. Code Ann. § 11-21-80 — SC Code / Title 11 / Chapter 21 / Section 11-21-80
SECTION 11-21-80. Effect of partial invalidity of chapter.
Status: in_force

If it be held that the application of this chapter to the refunding of general obligation bonds is invalid, such holding shall not disturb the right of governing boards to effect advanced refundings of bonds payable from the revenues of any revenue-producing project.
S.C. Code Ann. § 11-50-110 — SC Code / Title 11 / Chapter 50 / Section 11-50-110
SECTION 11-50-110. 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 obligations acquired or used by the authority or upon the income from them.
S.C. Code Ann. § 11-40-70 — SC Code / Title 11 / Chapter 40 / Section 11-40-70
SECTION 11-40-70. Receipt, distribution, and holding of funds by the authority.
Status: in_force

The authority may receive funds from federal, state, or other sources for the purpose of making grants to local governments to fund, or assist in funding, projects, infrastructure services and management services. Except with respect to funds for the purpose of making grants described in Section 11-40-50 (C)(6), the funds must be held by the authority separately from the fund. The authority may hold and distribute the funds in accordance with any federal or state program in connection with which the funds were received by the authority.
S.C. Code Ann. § 11-13-90 — SC Code / Title 11 / Chapter 13 / Section 11-13-90
SECTION 11-13-90. Failure of depository to report.
Status: in_force

In case any depository shall fail to render such statement at the time specified, without good cause shown, the State Treasurer shall at once withdraw all state deposits from such depository and close its account.
S.C. Code Ann. § 11-18-80 — SC Code / Title 11 / Chapter 18 / Section 11-18-80
SECTION 11-18-80. Maximum use of Volume Cap allocations.
Status: in_force

In order to make the maximum use of Volume Cap allocations, any bond enabling act which specifies particular projects or users must be construed to provide that any recovery zone property as defined in Section 1400U-3(b) of the Code will be deemed to qualify as a project. Accordingly, any person engaged in a qualified business as defined in Section 1400U-3(b)(2) of the Code will be permitted as beneficiary of any such bonds.
S.C. Code Ann. § 11-43-550 — SC Code / Title 11 / Chapter 43 / Article 5 / Section 11-43-550
SECTION 11-43-550. Pledge of full faith, credit, taxing power, and other revenue of State for payment of principal and interest; allocation of tax revenues.
Status: in_force

For the payment of the principal of and interest on all transportation infrastructure bonds, whether or not outstanding or hereafter issued, as they come due, there is pledged the full faith, credit, and taxing power of this State, and in accordance with the provisions of Section 13(4), Article X of the Constitution of this State, the General Assembly authorizes the allocation on an annual basis of sufficient tax revenues to provide for the punctual payment of the principal and interest on transportation infrastructure bonds. In addition to the full faith, credit, and taxing power, there also is pledged such revenue as may be available to the board, and the State Treasurer is authorized to use such revenue when pledged, without further action of the board, for the payment of the principal and interest on transportation infrastructure bonds as the bonds respectively mature. If the revenues so pledged prove insufficient to meet the payments of the interest on and principal of the transportation infrastructure bonds in the fiscal year, then the State Treasurer shall set aside from the general tax revenues received in the fiscal year so much of the general tax revenues as are needed for the purpose and shall apply these revenues to the punctual payment of the interest on and principal of transportation infrastructure bonds due or to become due in the fiscal year.
S.C. Code Ann. § 11-49-100 — SC Code / Title 11 / Chapter 49 / Section 11-49-100
SECTION 11-49-100. Accounts to be maintained separately; annual report.
Status: reserved

All accounts of the authority must be held and maintained separately from all other funds, properties, assets, and accounts of this State and its other agencies. The board shall keep an accurate account of all of its activities and all of its receipts and expenditures and annually, in the month of January, shall make a report of its activities to the State Budget and Control Board, the report to be in a form prescribed by the State Budget and Control Board. Audited financial statements must be submitted to the Comptroller General by October fifteenth following the end of the fiscal year. Code Commissioner's Note At the direction of the Code Commissioner, reference in this section to the former Budget and Control Board has not been changed pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), until further action by the General Assembly. SECTION 11-49-110. [Reserved]
S.C. Code Ann. § 11-41-140 — SC Code / Title 11 / Chapter 41 / Section 11-41-140
SECTION 11-41-140. Sale of bonds.
Status: reserved

Bonds must be sold by the Governor and the State Treasurer upon sealed proposals, after publication of notice of the sale one or more times at least seven days before the sale, in a financial paper published in New York City which regularly publishes notices of sale of state or municipal bonds. The bonds may be awarded upon the terms and in the manner as prescribed by the State Treasurer. The right is reserved to reject all bids and to readvertise the bonds for sale. For the purpose of bringing about successful sales of the bonds, the State Treasurer may do all things ordinarily and customarily done in connection with the sale of state or municipal bonds. All expenses incident to the sale of the bonds must be paid from the proceeds of the sale of the bonds.
S.C. Code Ann. § 11-42-10 — SC Code / Title 11 / Chapter 42 / Section 11-42-10
SECTION 11-42-10. Short title.
Status: in_force

This chapter may be cited as the South Carolina Comprehensive Infrastructure Development Act.
S.C. Code Ann. § 11-15-100 — SC Code / Title 11 / Chapter 15 / Article 1 / Section 11-15-100
SECTION 11-15-100. Requirements for incurring general obligation debt.
Status: in_force

(A) Counties, municipalities, school districts, and special purpose districts shall not incur any general obligation or revenue obligation indebtedness unless there has been filed in the office of the State Treasurer the following information: (1) date and title issue; (2) type of indebtedness; (3) the purpose of issuance; (4) the original principal to be borrowed; (5) interest rate; (6) annual payments of principal; (7) annual payments of interest. (B) The State Treasurer shall prepare and make available to counties, municipalities, school districts, and special purpose districts blank forms upon which the information required in subsection (A) of this section must be reported. (C) The State Treasurer shall annually survey the counties, municipalities, school districts, and special purpose districts concerning their general obligation and revenue obligation indebtedness so as to maintain a current record of these obligations. The survey must be conducted in such manner and on such forms as the State Treasurer shall prescribe. The survey for counties, school districts, and special purpose districts must be compiled by their respective county treasurers. (D) On or before March thirty-first of each year following the close of the fiscal year, the State Treasurer shall publish a statement of obligations of all political subdivisions showing each municipality, county, special purpose district, and school district in a county-by-county listing.
S.C. Code Ann. § 11-35-3410 — SC Code / Title 11 / Chapter 35 / Article 11 / Section 11-35-3410
SECTION 11-35-3410. Contract clauses and their administration.
Status: in_force

(1) Contract Clauses. The board may promulgate regulations requiring the inclusion in state supplies, services, and information technology contracts of clauses providing for adjustments in prices, time of performance, or other contract provisions, as appropriate, and covering the following subjects: (a) the unilateral right of a governmental body to order in writing changes in the work within the general scope of the contract and temporary stopping of the work or delaying performance; and (b) variations occurring between estimated quantities of work in a contract and actual quantities. (2)(a) Price Adjustments. Adjustments in price pursuant to clauses promulgated under subsection (1) of this section shall be computed and documented with a written determination. The price adjustment agreed upon shall approximate the actual cost to the contractor, and all costs incurred by the contractor shall be justifiable compared with prevailing industry standards, including a reasonable profit. Costs shall be properly itemized and supported by substantiating data sufficient to permit evaluation before commencement of the pertinent performance or as soon thereafter as practicable, and shall 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 such clauses with adjustment for profit or fee, all specified in the contract or subsequently agreed upon; (iii) by agreement on a fixed price adjustment; (iv) by rates determined by the Public Service Commission and set forth in the applicable tariffs; (v) in such other manner as the contracting parties may mutually agree; or (vi) 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 such clauses, with adjustment of profit or fee, all as computed by the governmental body in accordance with applicable sections of the regulations issued under Article 13 of this chapter, if any, and subject to the provisions of Article 17 of this chapter. (b) A contractor shall be required to submit cost or pricing data if any adjustment in contract price is subject to the provisions of Section 11-35-1830. (3) Additional Contract Clauses. The board shall be authorized to promulgate regulations requiring the inclusion in state supplies, services, and information technology contracts of clauses providing for appropriate remedies and covering the following subjects: (a) specified excuses for delay or nonperformance; (b) termination of the contract for default; and (c) termination of the contract in whole or in part for the convenience of the governmental body. (4) Modification of Clauses. The chief procurement officer may vary the clauses promulgated by the board under subsection (1) and subsection (3) of this section for inclusion in any particular state contract; provided, that any variations are supported by a written determination that states the circumstances justifying such variations; and provided, further, that notice of any such material variations shall be stated in the invitation for bids or request for proposals. 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 51.A, in (1)(a), substituted "general scope of the contract" for scope of the contract. 2019 Act No. 41, SECTION 51.B, in (2)(a)(vi), inserted ", if any,".
S.C. Code Ann. § 11-15-580 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-580
SECTION 11-15-580. Holder of bonds may require levying of taxes and enforce covenants.
Status: in_force

In the event the governing body shall fail to levy the taxes required to be levied or to perform the covenants undertaken in the issuance of the bonds, any holder of any of the bonds or coupons may require the levy of taxes and enforce the performance of the covenants by mandamus in any of the courts of this State.
S.C. Code Ann. § 11-56-100 — SC Code / Title 11 / Chapter 56 / Section 11-56-100
SECTION 11-56-100. Regulations.
Status: in_force

The department shall promulgate regulations to carry out the provisions of this chapter.
S.C. Code Ann. § 11-35-1830 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-1830
SECTION 11-35-1830. Cost or pricing data.
Status: in_force

(1) Contractor Certification. A contractor shall, except as provided in subsection (3) of this section, submit cost or pricing data and shall certify that, to the best of his knowledge and belief, the cost or pricing data submitted is accurate, complete, and current as of mutually determined specified date prior to the date of: (a) the pricing of any contract awarded by competitive sealed proposals pursuant to Section 11-35-1530, by competitive negotiations pursuant to Section 11-35-1535, or pursuant to the sole source procurement authority as provided in Section 11-35-1560 where the total contract price exceeds an amount established by the board in regulations; or (b) the pricing of any change order or contract modification which exceeds an amount established by the board in regulations. (2) Price Adjustment. Any contract, change order, or contract modification under which a certificate is required shall contain a provision that the price to the State, including profit or fee, shall be adjusted to exclude any significant sums by which the State finds that such price was increased because the contractor furnished cost or pricing data was inaccurate, incomplete, or not current as of the date agreed upon between parties. (3) Cost or Pricing Data Not Required. The requirements of this section shall not apply to contracts: (a) where the contract price is based on adequate price competition; (b) where the contract price is based on established catalog prices or market prices; (c) where contract prices are set by law or regulations; (d) where it is determined in writing in accordance with regulations promulgated by the board that the requirements of this section may be waived and the reasons for such waiver are stated in writing. 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 30, in (1)(a), inserted ", by competitive negotiations pursuant to Section 11-35-1535," and made a nonsubstantive change.
S.C. Code Ann. § 11-5-70 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-70
SECTION 11-5-70. Report of names of defaulting county treasurers.
Status: in_force

The Treasurer shall report to the General Assembly, at its annual session, every instance of default in the county treasurers and state particularly the means which he has made use of against such defaulters, so that the General Assembly may be fully informed of any omission of duty, wheresoever and by whomsoever, in the punctual and due collection of taxes.
S.C. Code Ann. § 11-46-20 — SC Code / Title 11 / Chapter 46 / Section 11-46-20
SECTION 11-46-20. South Carolina Hydrogen Infrastructure Development Fund; applications for and distribution of grants.
Status: in_force

(A) There is established in the State Treasury a separate and distinct fund known as the "South Carolina Hydrogen Infrastructure Development Fund". The revenues of the fund must be distributed in the form of grants by the South Carolina Research Authority (authority) and used for the purpose of promoting the development and deployment of hydrogen production, storage, distribution, and dispensing infrastructure and related products and services that enable the growth of hydrogen and fuel cell technologies in the State, either by the authority or a grantee. Unexpended revenues in this fund carry forward into succeeding fiscal years through June 30, 2012, and earnings in this fund must be credited to it. (B) The General Assembly must not appropriate more than a total of fifteen million dollars in grants as provided for in Section 11-46-30(B). Grants may not be made after June 30, 2012. Revenues remaining in the fund after that date, regardless of source, lapse to the general fund of the State. (C) The authority shall implement and manage the application for grants. The authority shall administer the fund and provide grants for any purpose that furthers the creation of a sustainable foundation upon which a hydrogen economy may develop across the State including, but not limited to, a demonstration project, pilot project, and the purchase of machinery and equipment. The authority may charge an applicant a maximum of three percent of the total amount of the grant for the administrative costs of managing the grant process. The authority, upon consultation with the South Carolina Hydrogen and Fuel Cell Alliance, the University of South Carolina's Fuel Cell Center of Excellence, Clemson University, South Carolina State University's Clyburn Transportation Center, the Savannah River National Laboratory, the Center for Hydrogen Research, the Medical University of South Carolina, and the Columbia Innovation Center, shall establish guidelines for the application for and approval of grants, including specific objectives that an applicant must meet to receive a grant. The executive committee of the authority has the ultimate authority to determine any matter relating to the fund and to the application of fund proceeds including, but not limited to, the approval of grants. (D) Grants distributed from the fund are subject to the procurement procedures followed by the authority. (E) Appropriations made to the fund pursuant to Section 11-46-30(B) may be distributed as grants only to the extent that there is a dollar-for-dollar match, in cash or in kind, from a source other than the State. However, the executive committee of the authority, based on the merits of a grant proposal and its projected economic benefit, may reduce or eliminate the matching requirement on a case-by-case basis. (F) The authority shall make and implement all final decisions concerning any matter provided for in this chapter; however, a grant must not be made to the authority without approval by the Secretary of Commerce.
S.C. Code Ann. § 11-7-40 — SC Code / Title 11 / Chapter 7 / Section 11-7-40
SECTION 11-7-40. Cost of medical assistance audits; South Carolina Department of Health and Human Services to be billed.
Status: in_force

The State Auditor shall bill the South Carolina Department of Health and Human Services monthly for fifty percent of the costs incurred by the State Auditor in conducting the medical assistance audit. The amount billed by the State Auditor must include those appropriated salary adjustments and employer contributions allowable under the Medicaid program. The Department of Health and Human Services shall remit the amount billed to the credit of the general fund of the State.
S.C. Code Ann. § 11-9-110 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-110
SECTION 11-9-110. Organization to which contribution is appropriated to submit statement to Executive Budget Office and the Revenue and Fiscal Affairs Office as to nature and function of organization and use of contribution.
Status: in_force

Each organization to which a contribution is made in the contributions section of the general appropriation bill shall submit to the Executive Budget Office and the Revenue and Fiscal Affairs Office by the end of the applicable fiscal year a detailed statement explaining the nature and function of the organization as well as a detailed statement explaining the use that was made of the contribution. The statements must be available at the office of the Executive Budget Office and the Revenue and Fiscal Affairs Office for public inspection and given to a member of the General Assembly upon request. A contribution must not be made to an organization until it agrees in writing to allow the State Auditor to audit or cause to be audited the contributed funds. 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).
S.C. Code Ann. § 11-51-150 — SC Code / Title 11 / Chapter 51 / Section 11-51-150
SECTION 11-51-150. Pledge of full faith, credit, and taxing power of State; allocation of tax revenues for payment of principal and interest.
Status: reserved

For the payment of the principal of and interest on the general obligation debt issued and outstanding pursuant to this chapter there is pledged the full faith, credit, and taxing power of this State, and in accordance with the provisions of Section 13(4), Article X of the Constitution of this State, 1895, the General Assembly allocates on an annual basis sufficient tax revenues to provide for the punctual payment of the principal of and interest on the general obligation debt authorized by this chapter. SECTION 11-51-160. Advertisement and sale requirements; right to reject bids; expenses incident to sale. General obligation debt must be sold by the Governor and the State Treasurer upon sealed proposals, after publication of a summary notice of the sale one or more times at least seven days before the sale, in a financial paper published in New York City which regularly publishes notices of sale of state or municipal bonds. The general obligation debt may be awarded upon the terms and in the manner as prescribed by the State Treasurer. The right is reserved to reject bids and to re-advertise the general obligation debt for sale. For the purpose of bringing about successful sales of the general obligation debt, the State Treasurer may do all things ordinarily and customarily done in connection with the sale of state or municipal bonds. Expenses incident to the sale of the general obligation debt must be paid from the proceeds of the sale of the general obligation debt.
S.C. Code Ann. § 11-9-300 — SC Code / Title 11 / Chapter 9 / Article 3 / Section 11-9-300
SECTION 11-9-300. Borrowing to maintain general fund; required cash balance.
Status: repealed

The State Fiscal Accountability Authority shall, when necessary, borrow as otherwise provided by law a sufficient sum or sums of money to provide for the payment of all demands upon the State Treasury, to the end that the general fund herein authorized shall at no time become exhausted, and the authority shall maintain at all times a cash balance sufficient in its judgment to meet the requirements of SECTIONS 11-9-240 to 11-9-270 and this section. 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 Sections 11-9-240 to 11-9-270 are repealed by 2014 Act No. 121, SECTION 10.C, effective July 1, 2015.
S.C. Code Ann. § 11-37-105 — SC Code / Title 11 / Chapter 37 / Section 11-37-105
SECTION 11-37-105. Jobs Economic Development Authority to be reimbursed for expenses.
Status: in_force

In addition to the amount of bonds authorized by the authority, the State Treasurer shall include in the bond issue any fees and costs incurred by the Jobs Economic Development Authority to receive, research, investigate, and process any applications for projects not to exceed one hundred thousand dollars in any one fiscal year. The Jobs Economic Development Authority shall submit quarterly requests for reimbursement by the authority for costs incurred.
S.C. Code Ann. § 11-35-210 — SC Code / Title 11 / Chapter 35 / Article 1 / Section 11-35-210
SECTION 11-35-210. Determinations; exemption.
Status: in_force

(A) Written determinations expressly required by the code or regulations must be retained in an official contract file of the governmental body administering the contract. These determinations must be documented in sufficient detail to satisfy the requirements of audit as provided in Section 11-35-1230. (B) All findings, determinations, decisions, policies, and procedures allowed by this chapter are exempt from the requirements of Section 1-23-140(b). 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 5, inserted the (A) identifier and added (B).
S.C. Code Ann. § 11-35-4870 — SC Code / Title 11 / Chapter 35 / Article 19 / Section 11-35-4870
SECTION 11-35-4870. Use of payments received by a supplying public procurement unit.
Status: in_force

All payments from any public procurement unit or external procurement activity received by the Division of Procurement Services in connection with sponsoring or administering a cooperative purchase, 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 2019 Act No. 41, SECTION 70, rewrote the section, providing that certain payments must be deposited in a special revenue account.
S.C. Code Ann. § 11-53-10 — SC Code / Title 11 / Chapter 53 / Section 11-53-10
SECTION 11-53-10. Special accounts.
Status: in_force

Each state agency may establish a special account for the purpose of funding the agency's nonrecurring implementation expenses of the South Carolina Enterprise Information System (SCEIS). An agency may transfer into this account funds at the discretion of the agency head to be set aside and expended for the identified purpose. The total amount of funds transferred into the account cannot exceed the agency's implementation costs as projected by the SCEIS Project Team. The special account is exempt from the calculation of any mid-year budget reduction ordered by the Executive Budget Office or the General Assembly, as appropriate. Any unexpended balance in the special account may be carried forward to the succeeding fiscal year and expended for the same purposes. The Comptroller General shall monitor these special accounts to ensure compliance with the provisions of this joint resolution. It is the intent of the General Assembly that agencies pursue grants and other nonstate funding sources to fund their portion of the SCEIS implementation. 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. § 11-23-10 — SC Code / Title 11 / Chapter 23 / Section 11-23-10
SECTION 11-23-10. Legislative findings.
Status: in_force

The General Assembly makes the following findings: 1. From time to time various political subdivisions and public bodies including but not limited to counties, cities, towns, public service districts and authorities, issue general obligation bonds under various authorizing statutes to finance the construction of projects such as hospitals, water systems, sewer systems, airports and other public projects which produce revenues. 2. Many of the statutes which authorize the issuance of such general obligation bonds contain no provision that the bonds may be additionally secured by a pledge of the revenues to be derived from the operation of the projects financed by such bonds and no provision that the annual tax levy to be made for the payment of debt service on such bonds may be reduced in each year by the amount of such revenues actually on hand and available for payment of debt service at the time the annual levy is to be made. 3. That the authorization to make such a pledge to additionally secure such bonds would enable the issuer thereof to strengthen the security of its general obligation bonds, and to shift at least a portion of the burden of the debt-service payments from ad valorem taxes on the property owners within its taxing jurisdiction to those who pay rates and charges for the facilities and services furnished by the projects financed by such general obligation bonds.
S.C. Code Ann. § 11-11-430 — SC Code / Title 11 / Chapter 11 / Article 5 / Section 11-11-430
SECTION 11-11-430. State bonds.
Status: in_force

(A) In order to continue to maintain the fiscal integrity of the State, the proceeds of the state bonds must not be used to fund operating expenses of state government and such proceeds must be used only for capital improvements. (B) In order to continue the policy of the State to maintain the full faith and credit of the State with respect to any existing or future bonded indebtedness, the principal and interest payments on general obligation bonds shall constitute priority state expenditures. (C) The issuance of general obligation bonds of the State must be limited so that the 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) may 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).
S.C. Code Ann. § 11-35-1240 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-1240
SECTION 11-35-1240. Administrative penalties.
Status: in_force

(A) The board shall prescribe administrative penalties for violation of the provisions of this code and of regulations promulgated under it, excluding those matters under the jurisdiction of the Ethics Commission as provided by law. (B) Violation of these provisions is grounds for loss of or reduction in authority delegated by either the board or this code.
S.C. Code Ann. § 11-11-230 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-230
SECTION 11-11-230. Creation of Smoking Prevention and Cessation Trust Fund and South Carolina Medicaid Reserve Fund.
Status: in_force

(A) There is created in the State Treasury the Smoking Prevention and Cessation Trust Fund. This fund is separate and distinct from the general fund of the State and all other funds. Earnings and interest on this fund must be credited to it and any balance in this fund at the end of a fiscal year carries forward in the fund in the succeeding fiscal year. The trust fund must transfer five million dollars annually to the Department of Health and Environmental Control to administer a statewide smoking prevention and cessation program. The funds must not be appropriated for any other purpose and the Department of Health and Environmental Control may not use the funds for any purposes other than administering a statewide smoking prevention and cessation program. (B) There is created the South Carolina Medicaid Reserve Fund. This fund is separate and distinct from the general fund of the State and all other funds. Earnings and interest on this fund must be credited to it and any balance in this fund at the end of a fiscal year carries forward in the fund in the succeeding fiscal year. The fund only may be appropriated for the restoration and maintenance of effort of the Medicaid program as structured at the time this act takes effect, and must not be appropriated for any other purpose. The fund must not be used to expand any component of the existing Medicaid program.
S.C. Code Ann. § 11-35-1410 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-1410
SECTION 11-35-1410. Definitions of terms used in this article.
Status: in_force

Unless the context clearly indicates otherwise: (1) "Commercial product" means supplies, other than printing, or information resources: (a) that is of a type customarily used by the general public and that has been sold, leased, or licensed to the general public; (b) that would satisfy the criteria in subitem (a) were it not for modifications of a type customarily available in the commercial marketplace, or minor modifications made to meet state requirements; or (c) that is a combination of products meeting the requirements of subitem (a) or (b) that are of a type customarily combined and sold in combination to the general public. (2) "Commercially available off-the-shelf product" means supplies, other than printing, or information resources: that is a commercial product, as defined herein, that is sold in substantial quantities in the commercial marketplace; and is offered to the State, without modification, in the same form in which it is sold in the commercial marketplace. It does not include agricultural products, petroleum products, and other items customarily sold in bulk. (3) "Cost-reimbursement contract" means a contract under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms and the provisions of this code, and paid a fee, if any. (4) "Established catalog price" means the price included in a catalog, price list, schedule, or other form that: (a) is regularly maintained by a manufacturer or vendor of an item; (b) is either published or otherwise available for inspection by customers; (c) states prices at which sales are currently or were last made to a significant number of buyers constituting the general buying public for the supplies, services, or information technology involved. (5) "Invitation for bids" means all documents, whether attached or incorporated by reference, utilized for soliciting bids in accordance with the procedures set forth in Section 11-35-1520. (6) "Purchase description" means specifications or other document describing the supplies, services, information technology, or construction to be procured. (7) "Request for proposals" means all documents, whether attached or incorporated by reference, utilized for soliciting proposals. (8) "Responsible bidder or offeror" means a person who has the capability in all respects to perform fully the contract requirements and the integrity and reliability which will assure good faith performance which may be substantiated by past performance. (9) "Responsive bidder or offeror" means a person who has submitted a bid or proposal which conforms in all material aspects to the invitation for bids or request for proposals. 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 16, inserted (1) and (2), relating to definitions for "Commercial product" and "Commercially available off-the-shelf product", respectively, and redesignated (1) to (7) as (3) to (9); in (3), substituted "contract terms and the provisions of this code, and paid a fee," for "cost principles as provided in Article 13 of this chapter and a fee,"; and in (9), substituted "proposal" for "offer".
S.C. Code Ann. § 11-11-345 — SC Code / Title 11 / Chapter 11 / Article 3 / Section 11-11-345
SECTION 11-11-345. Suspension of appropriations; negative GAAP Fund balance defined.
Status: in_force

(A) Beginning July 1, 2006, if the Comptroller General determines upon the closing of the state's financial books for a fiscal year that the State has a negative Generally Accepted Accounting Principles Fund balance (GAAP Fund Deficit), any appropriations contained in a general or supplemental appropriations act which expends surplus general fund revenues or in a Capital Reserve Fund appropriations act to be effective during the next fiscal year are suspended and must be used to the extent necessary to offset the GAAP Fund Deficit in the manner the General Assembly shall provide. (B) A negative GAAP Fund balance is defined as the amount remaining after subtracting all state liabilities and reserve funds from state assets on an accrual basis.
S.C. Code Ann. § 11-50-170 — SC Code / Title 11 / Chapter 50 / Section 11-50-170
SECTION 11-50-170. Liberal construction; approval of ad valorem property taxes.
Status: in_force

(A) This chapter, being for the welfare of this State and its inhabitants, must be liberally construed to effect the purposes specified in this chapter. However, nothing in this chapter must be construed as affecting any proceeding, notice, or approval required by law for the issuance by an eligible entity of the loan obligations, instruments, or security for loan obligations. (B) Where the governing body of an eligible entity does not have unlimited fiscal autonomy granting them the right to impose ad valorem property taxes for general operating purposes without limitation, the public entity, if applicable, which has the authority to approve ad valorem property taxes for general operating purposes without limitation also must approve a loan or security obligation provided by this chapter.
S.C. Code Ann. § 11-56-70 — SC Code / Title 11 / Chapter 56 / Section 11-56-70
SECTION 11-56-70. Use of grants.
Status: in_force

A grant made by the department to a microloan delivery organization may be used to: (1) satisfy matching fund requirements for other federal or private grants; (2) establish a revolving loan fund from which the microloan delivery organization may make loans to microenterprises; (3) establish a guaranty fund from which the microloan delivery organization may guarantee loans made by financial institutions to microenterprises; and (4) provide funding for the operating costs of a microloan delivery organization.
S.C. Code Ann. § 11-35-845 — SC Code / Title 11 / Chapter 35 / Article 3 / Section 11-35-845
SECTION 11-35-845. Oversight of permanent improvement projects.
Status: in_force

Each agency of state government that has total management capability as defined and certified by the State Engineer's Office must be allowed to oversee the administration of construction projects with the State Engineer's Office serving as an audit function. The State Engineer's Office shall assist those small agencies who do not have the necessary expertise in permanent improvements.
S.C. Code Ann. § 11-15-440 — SC Code / Title 11 / Chapter 15 / Article 5 / Section 11-15-440
SECTION 11-15-440. Extent to which refunding bonds may be issued.
Status: in_force

The governing body of any issuer may issue general obligation bonds of such issuer to such extent as such issuer shall be indebted by way of principal, interest, and redemption premium upon any outstanding general obligation or revenue bonds, maturing or called for redemption, less all sinking funds and other monies on hand applicable thereto. The issuer may utilize the provisions of Sections 11-27-40 and 11-27-50 in connection with the issuance of such refunding bonds.
S.C. Code Ann. § 11-46-70 — SC Code / Title 11 / Chapter 46 / Section 11-46-70
SECTION 11-46-70. Designation of nonprofit affiliate to implement provisions of chapter.
Status: in_force

The authority or a nonprofit affiliate designated by the authority may implement the provisions of this chapter. A designated nonprofit affiliate shall establish a separate and distinct fund. Monies provided to the affiliate fund must be subject to the same conditions and requirements provided by law that apply to a fund established by the authority. Grants from the affiliate fund must be made with the consent of the executive committee of the authority. The provisions of this chapter and Section 12-6-3630 apply to the affiliate fund.
S.C. Code Ann. § 11-13-120 — SC Code / Title 11 / Chapter 13 / Section 11-13-120
SECTION 11-13-120. Manner of depositing state funds; exception for county treasurers.
Status: in_force

All state departments, boards, bureaus, commissions or other state agencies charged with the collection of any taxes, licenses, fees, interest or any income to the State shall, with ordinary business promptness, deposit the same when collected with or to the credit of the State Treasurer, either at his office in the State Capitol or in such bank or banking institution within the State as shall be designated by the State Treasurer; provided, that this section and SECTION 11-13-110 shall not apply to the collection of state taxes by county treasurers, who shall collect and remit as required by the Comptroller General.
S.C. Code Ann. § 11-43-265 — SC Code / Title 11 / Chapter 43 / Article 1 / Section 11-43-265
SECTION 11-43-265. Prioritization of projects.
Status: in_force

(A) Notwithstanding any other provision of law and subject to the provisions of subsection (B), the bank must prioritize all projects in accordance with the prioritization criteria provided in Section 57-1-370(B)(8). (B) The General Assembly may enact a joint resolution allowing the bank to fund a project without using the prioritization criteria provided in subsection (A). The joint resolution must be specific as to the project and the amount authorized to be funded. Editor's Note 2016 Act No. 275, SECTION 90(D), provides as follows: "(D) Notwithstanding the effective date provided in subsection (A), SECTION 6 and SECTION 7 [adding this section] take effect upon approval by the Governor. The provisions contained in SECTION 6 and SECTION 7 only apply to projects selected by the bank thereafter."
S.C. Code Ann. § 11-41-50 — SC Code / Title 11 / Chapter 41 / Section 11-41-50
SECTION 11-41-50. Maximum annual debt service on all general obligation bonds of State; additional authorization for issuance.
Status: in_force

(A) Pursuant to Section 13(6)(c), Article X of the Constitution of this State, 1895, the General Assembly provides that economic development bonds may be issued pursuant to this subsection at such times as the maximum annual debt service on all general obligation bonds of the State, including economic development bonds outstanding and being issued pursuant to this subsection or pursuant to Section 11-41-50(C), but excluding economic development bonds issued pursuant to Section 11-41-50(B), research university infrastructure bonds pursuant to Chapter 51 of this title, highway bonds, state institution bonds, tax anticipation notes, and bond anticipation notes, will not exceed five and one-half 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. The State at any time may not issue general obligation bonds, excluding economic development bonds issued pursuant to this chapter, but not excluding economic development bonds issued pursuant to Section 11-41-50(C), research university infrastructure bonds issued pursuant to Chapter 51 of this title, highway bonds, state institution bonds, tax anticipation notes, and bond anticipation notes, if at the time of issuance the maximum annual debt service on all such general obligation bonds, outstanding and being issued exceeds 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. (B) In addition to and exclusive of the economic development bonds provided for and issued pursuant to subsection (A), the General Assembly provides that pursuant to Section 13(5), Article X, (i) additional economic development bonds may be issued under this chapter in an aggregate principal amount that does not exceed one hundred seventy million dollars, and (ii) in addition to the authorization contained in the preceding item, additional economic development bonds may be issued provided that the aggregate principal amount of economic development bonds then outstanding under items (i) and (ii), together with the economic development bonds to be issued pursuant to this item (ii), does not at any time exceed the principal amount specified in item (i). From the proceeds of the economic development bonds authorized pursuant to this subsection, no more than a total of one hundred seventy million dollars of proceeds may be used for any one project regardless of available capacity. (C) In addition to and exclusive of the economic development bonds provided for and issued pursuant to subsections (A) and (B) of this section, the General Assembly provides that pursuant to Section 13(6)(c), Article X, economic development bonds may be issued under this chapter in an aggregate principal amount that does not exceed one hundred twenty million dollars to support enhanced projects. Effect of Amendment The 2013 amendment, in subsection (A), inserted "pursuant to this subsection or pursuant to Section 11-41-50(C)" and "economic development bonds issued pursuant to Section 11-41-50(B)" in the first sentence, and inserted "but not excluding economic development bonds issued pursuant to Section 11-41-50(C)" in the second sentence; added subsection (C); and made other nonsubstantive changes.
S.C. Code Ann. § 11-15-290 — SC Code / Title 11 / Chapter 15 / Article 3 / Section 11-15-290
SECTION 11-15-290. Failure to make investments in accordance with article; penalties.
Status: in_force

The failure of the custodian of any such sinking fund to make such investments in accordance with the provisions of this article shall be a misdemeanor, and upon conviction thereof he shall be liable to a fine of not less than one hundred dollars nor more than one thousand dollars or imprisonment for not less than thirty days nor more than one year or both.
S.C. Code Ann. § 11-9-1120 — SC Code / Title 11 / Chapter 9 / Article 9 / Section 11-9-1120
SECTION 11-9-1120. 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.
Status: in_force

(A) In the organizational and procedural framework governing the formulation, evaluation, and continuing review of revenues and expenditures, any appropriate governmental entity identifying or requesting a change in the official revenue and expenditure forecast or projection, for a specified period of time, shall first notify the office of the Chairman of the Board of Economic Advisors who must bring it to the attention of the Governor before any independent adjustment in the appropriations or requests of the revenue or expenditures for a particular year. The Ways and Means Committee in the House of Representatives and the Senate Finance Committee must be the first to be notified subsequent to notifying the Governor and must be informed simultaneously. (B) The Board of Economic Advisors shall meet on a quarterly basis and at the call of the Governor, the General Assembly, the chairman of the board, or at the request of any member of the board who believes a meeting is necessary due to existing financial circumstances. (C) The Board of Economic Advisors is the official voice of the State in economic matters and shall speak as one voice through the guidance and direction of the chairman. Individual members shall not speak or report individually on findings and status of economic activity. Editor's Note Prior Laws: Former SECTION 11-9-1120 was titled Board of Economic Advisors division, and had the following history: 2014 Act No. 121 (S.22), Pt VI, SECTION 8.A, eff July 1, 2014. Effect of Amendment 2018 Act No. 246, SECTION 2, inserted the paragraph designators; in (B), substituted "chairman" for "Chairman" and "board" for "Board"; and in (C), in the second sentence, substituted "economic activity" for "economic developments".
S.C. Code Ann. § 11-50-160 — SC Code / Title 11 / Chapter 50 / Section 11-50-160
SECTION 11-50-160. Annual reports; audit of books and accounts.
Status: in_force

Following the close of each state fiscal year, the authority shall submit an annual report of its activities for the preceding year to the Governor and to the General Assembly. Also, the authority shall submit an annual report of any loans or other financial assistance, excluding grants, to the Joint Bond Review Committee. An independent certified public accountant shall perform an audit of the books and accounts of the authority at least once in each state fiscal year. Effect of Amendment 2014 Act No. 195, SECTION 4, add the second sentence, relating to submittal of an annual report.
S.C. Code Ann. § 11-48-10 — SC Code / Title 11 / Chapter 48 / Section 11-48-10
SECTION 11-48-10. Legislative findings.
Status: in_force

The General Assembly finds that: (1) potential violations of Chapter 47 of this title, The Tobacco Escrow Fund Act, may threaten the integrity of the Tobacco Master Settlement Agreement, the financial interests of the State, and the public health; and (2) enacting procedural enhancements may deter potential violations and promote the enforcement of The Tobacco Escrow Fund Act, safeguard the Master Settlement Agreement, the financial interests of the State, and the public health.
S.C. Code Ann. § 11-35-2010 — SC Code / Title 11 / Chapter 35 / Article 5 / Section 11-35-2010
SECTION 11-35-2010. Types of contracts; contracting documents and usage instructions.
Status: in_force

(1) Types of Contracts. Subject to the limitations of this section, any type of contract that will promote the best interests of the State may be used, except that the use of a cost-plus-a-percentage-of- cost contract must be approved by the appropriate chief procurement officer. A cost-reimbursement contract, including a cost-plus-a-percentage-of-cost contract, may be used only when a determination sufficient for external audit is prepared showing that the contract is likely to be less costly to the State than any other type or that it is impracticable to obtain the supplies, services, information technology, or construction required except under that contract. (2)(a) As used in this section: (i) "Contracting document" means a standardized or model instrument, or a component part of it, for use as a contract, invitation for bids, request for proposals, request for qualifications, or instruction to bidders including, but not limited to, a contract clause or solicitation provision. (ii) "Usage instructions" means directions regarding conditions for use of a contracting document, completion of a contracting document, and the process for obtaining permission, if possible, to omit or depart from the contracting document's established content for a particular solicitation or contract. (b) The chief procurement officers may develop contracting documents for their respective areas of responsibility. Contracting documents may be published as internal operating procedures. Contracting documents may be accompanied by usage instructions. (c) The board may adopt formally a contracting document, as developed by the appropriate chief procurement officer, for mandatory use by all governmental bodies only after notice of the proposed adoption has been published in the State Register and the board has provided the public at least sixty days to make written comments. If a contracting document is adopted by the board, the contracting document must be published in the State Register, accompanied by usage instructions, and used by all governmental bodies in accordance with its usage instructions. The chief procurement officers are not required to submit for board approval contracting documents used in connection with either solicitations issued or contracts awarded by the board or its offices. (d) Notwithstanding item (c) above, the board may promulgate contracting documents as regulations.
S.C. Code Ann. § 11-49-20 — SC Code / Title 11 / Chapter 49 / Section 11-49-20
SECTION 11-49-20. Definitions.
Status: in_force

As used in this chapter: (1) "Authority" means the Tobacco Settlement Revenue Management Authority, as established by this chapter. (2) "Board" means the governing body of the authority. (3) "Bonds" means special source bonds, notes, or other evidences of indebtedness of the authority payable solely from and secured solely by the State's tobacco receipts, issued pursuant to the authorizations contained in this chapter and in Section 13(9), Article X of the Constitution of this State. The bonds are "bonds" for purposes of Section 12-2-50 and any successor provision. (4) "Escrow" means the escrow as that term is defined in the master settlement agreement. (5) "Escrow agent" means the escrow agent as that term is defined in the master settlement agreement. (6) "Independent auditor" means the independent auditor as that term is defined in the master settlement agreement. (7) "Master settlement agreement" means the settlement agreement and related documents entered into on November 23, 1998, by the State and the four principal United States tobacco product manufacturers, as amended and supplemented. (8) "Participating manufacturers" means the participating manufacturers as that term is defined in the master settlement agreement. (9) "State" or "this State" means the State of South Carolina. (10) "State's tobacco receipts" means all of the payments to be made by the escrow agent and derived from payments made by the participating manufacturers and allocated to this State under the master settlement agreement, other than pursuant to Article XVII of that agreement.
S.C. Code Ann. § 11-9-75 — SC Code / Title 11 / Chapter 9 / Article 1 / Section 11-9-75
SECTION 11-9-75. State funds to be withheld from counties or municipalities delinquent in payments due to State or its agencies.
Status: in_force

If an agency or political subdivision becomes delinquent for ninety days for any payments to the State or agencies or institutions thereof, the agency or institution responsible for the collection of the payment may file a certificate of delinquency with the State Treasurer. Upon receipt of the certificate of delinquency, the State Treasurer shall withhold from the next distribution of any revenue to such agency or political subdivision the amount certified as being due and shall forward a remittance to the agency or institution to be applied against the payment due by such agency or political subdivision. If the State Treasurer does not forward any remittance or forwards an amount less than the delinquent payment after one year from the date of certification, the agency or institution shall write off the outstanding delinquent amount as an uncollectible bad debt.
S.C. Code Ann. § 11-45-95 — SC Code / Title 11 / Chapter 45 / Section 11-45-95
SECTION 11-45-95. Reports by authority; contents.
Status: in_force

(A) The authority shall provide an annual report to the Governor, the General Assembly, and other appropriate officials and entities containing at a minimum the following information: (1) monies placed in venture capital investments with approved investors and South Carolina based companies cumulatively and during that fiscal year; (2) an audit of the activities conducted by the authority during that fiscal year; (3) the progress of the designated investor groups in implementing their respective investment plans; (4) the amount and time lines of tax credit certificates issued both cumulatively and during that fiscal year, and any use, redemption, or transfer of tax credits during that fiscal year; (5) a description of a material interest held by a director, officer, or employee of the authority with respect to the investments or assets of the designated investor groups; (6) a schedule of the aggregate rate of return, net of total investment expense, on assets of the designated investor groups held pursuant to this chapter over the most recent one-year, three-year, five-year, and ten-year periods, to the extent available; and (7) a schedule of the sum of total investment expense and total general administrative expense for the fiscal year incurred and expressed as a percentage of the fair value of assets of the designated investor groups held pursuant to this chapter on the last day of the fiscal year, and an equivalent percentage for the preceding five fiscal years, if applicable. (B) These disclosure requirements are cumulative to and do not replace other reporting requirements provided by law. (C) Notwithstanding any other provision of law, private investment and other proprietary financial data provided to the authority by a designated investor group or an investor is not subject to public disclosure under Title 30, Chapter 4.
S.C. Code Ann. § 11-5-160 — SC Code / Title 11 / Chapter 5 / Article 1 / Section 11-5-160
SECTION 11-5-160. Payment of appropriations when no direction is given.
Status: in_force

When no direction is given herein as to the manner in which a specific appropriation shall be paid, it shall be paid under the direction of the Governor and the Attorney General in such manner as will safeguard the interests of the State.
S.C. Code Ann. § 11-37-30 — SC Code / Title 11 / Chapter 37 / Section 11-37-30
SECTION 11-37-30. South Carolina Resources Authority created.
Status: in_force

There is created a body politic and corporate known as the South Carolina Resources Authority. The authority is declared to be a public instrumentality of the State and the exercise by it of any power conferred in this chapter is the performance of an essential public function. The authority consists of the members of the State Fiscal Accountability Authority. Effect of Amendment 2014 Act No. 121, SECTION 20.E, substituted "Fiscal Accountability Authority" for "Budget and Control Board".
S.C. Code Ann. § 11-11-40 — SC Code / Title 11 / Chapter 11 / Article 1 / Section 11-11-40
SECTION 11-11-40. Annual statements from Comptroller General.
Status: in_force

On or before the first day of each November the Comptroller General shall furnish to the Governor the following statements, classified and itemized in strict accordance with the budget classifications adopted by the Governor: (1) A statement showing the balance standing to the credit of the several appropriations for each department, bureau, division, officer, board, commission, institution or other agency or undertaking of the State at the end of the last preceding appropriation year; (2) A statement showing the monthly expenditures and revenues from each appropriation account and the total monthly expenditures and revenues from all the appropriation accounts, including special and other appropriations, in the twelve months of the last preceding appropriation year; (3) A statement showing the annual expenditures in each appropriation account and the revenues from all sources, including expenditures and revenues from special and other appropriations, for each of the last two appropriation years, with a separate column showing the increase or decrease for each item; (4) An itemized and complete financial balance sheet for the State at the close of the last preceding fiscal year ending June thirtieth; and (5) Such other statements as the board shall request. 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).