reglab/housing_qa huggingface dataset:
SC Code § 11-43-520 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-520. Request for issuance of transportation infrastructure bonds; contents.

 Whenever it shall become necessary that monies be raised for qualified projects, including monies to be used to refund any transportation infrastructure bonds then outstanding, the board may make a request to the state board for the issuance of transportation infrastructure bonds pursuant to this article. This request may be in the form of a resolution adopted at any regular or special meeting of the board. The request shall set forth on the face thereof or by schedules attached thereto:  (1) the amount then required for qualified projects;  (2) a tentative time schedule setting forth the period of time during which the sum requested will be expended; and  (3) a debt service table showing the annual principal and interest requirements for all the transportation infrastructure bonds then outstanding.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-530 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-530. Review of request; approval of bonds or bond anticipation notes.

 Following the receipt of any request pursuant to Section 11-43-520, the state board shall review the same and it shall approve such request, by resolution duly adopted, to effect the issuance of transportation infrastructure bonds, or pending the issuance thereof, effect the issuance of bond anticipation notes pursuant to Chapter 17 of Title 11.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-540 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-540. Limitations; review by Joint Bond Review Committee; payment of principal and interest.

 The issuance of transportation infrastructure bonds is subject to the limitations contained in Section 13(6)(c), Article X of the Constitution of this State. Within such limitations, transportation infrastructure bonds may be issued for qualified projects or to refund transportation infrastructure bonds from time to time under the conditions prescribed by this article. The review and approval of the Joint Bond Review Committee must be obtained prior to the issuance of any transportation infrastructure bonds. No transportation infrastructure bonds may be issued unless the board has a source of revenues to pay the principal and interest on the bonds.  HISTORY: 1997 Act No. 148, Section 2; 2004 Act No. 184, Section 11.
SC Code § 11-43-550 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|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.

 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.  HISTORY: 1997 Act No. 148, Section 2; 2004 Act No. 184, Section 12.
SC Code § 11-43-560 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-560. Request for issuance of transportation infrastructure bonds; resolution, contents.

 The board is authorized to request the state board to issue transportation infrastructure bonds. In order to effect the issuance of bonds pursuant to this article, the state board may adopt a resolution providing for the issuance of transportation infrastructure bonds, upon written request by the board, and may transmit a certified copy thereof to the Governor and to the State Treasurer, with the request that they issue and deliver transportation infrastructure bonds in accordance with the terms and conditions of such resolution. This resolution must set forth:  (1) the amount, denomination, and numbering of transportation infrastructure bonds to be issued;  (2) the date as of which the same shall be issued;  (3) the maturity schedule for the retirement of the transportation infrastructure bonds;  (4) the redemption provisions, if any, applicable to the bonds;  (5) the maximum rate or rates of interest the bonds shall bear;  (6) the purposes for which the bonds are to be issued;  (7) the occasion on which bids shall be received for the sale of the bonds;  (8) the form of advertisement of sale;  (9) the form of the bonds of the particular issue; and  (10) such other matters as may be considered necessary in order to effect the sale, issuance, and delivery thereof.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-570 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-570. Issuance of bonds.

 Following receipt of a certified copy of the resolution of the state board the Governor and State Treasurer shall issue transportation infrastructure bonds in accordance with the provisions of the resolution of the state board.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-580 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-580. Form, denominations, provisions of bonds.

 Transportation infrastructure bonds shall be issued in such form, in such denominations, and with such provisions as to time, place, or places and medium of payment as may be determined by the state board, subject to the provisions of this article.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-590 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-590. Issuance as fully registered bonds; transfer.

 Transportation infrastructure bonds must be issued as fully registered bonds with both principal and interest thereof made payable only to the registered holder. Such fully registered bonds are subject to transfer under such conditions as the state board prescribes.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-600 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-600. Interest; redemption.

 Transportation infrastructure bonds shall bear interest, payable on such occasions as shall be prescribed not more than thirty years after such date. Such installments or series may be equal or unequal in amount. Transportation infrastructure bonds, in the discretion of the state board, may be made subject to redemption at par and accrued interest, plus such redemption premium as it shall approve and on such occasions as it may prescribe. Transportation infrastructure bonds are not redeemable before maturity unless they contain a statement to that effect.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-610 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-610. Exemption from taxes or assessments.

 All transportation infrastructure bonds issued under this article, and the interest thereon, are exempt from all state, county, municipal, school district, and other taxes or assessments, direct or indirect, general or special, imposed by this State, whether imposed for the purpose of general revenue or otherwise, except inheritance, estate, or transfer taxes.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-620 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-620. Sale upon sealed proposals; notice; awarding of bonds; rejection, readvertising.

 Transportation infrastructure bonds must be sold by the Governor and the State Treasurer upon sealed proposals, after publication of notice of such sale one or more times at least seven days before such sale, in a newspaper of general circulation in the State and also in a financial paper published in New York City which regularly publishes notices of sale of state or municipal bonds. The bonds must be awarded to the bidder offering to purchase the transportation infrastructure bonds at the lowest net interest cost to the State at a price of not less than ninety-nine percent of par and accrued interest to the date of delivery, but the right is reserved to reject all bids and to readvertise the bonds for sale and to waive technicalities in the bidding.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-630 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-630. Application of proceeds.

 The proceeds derived from the sale of transportation infrastructure bonds must be applied only to the purposes set forth in the resolution of the state board pursuant to which the bonds are issued.  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-44-10 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 44 - High Growth Small Business Job Creation Act|Section 11-44-10. Short title.

 This chapter may be cited as the "High Growth Small Business Job Creation Act of 2013".  HISTORY: 2013 Act No. 80, Section 1.A, eff June 14, 2013; 2020 Act No. 138 (S.76), Section 3.B., eff May 26, 2020.  Editor's Note  2013 Act No. 80, Section 1.B., as amended by 2020 Act No. 138, Section 3.A., and Section 3, provide as follows:  "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed."  "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012."  2020 Act No. 138, Section 3.B., provides as follows:  "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
SC Code § 11-44-20 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 44 - High Growth Small Business Job Creation Act|Section 11-44-20. Legislative intent.

 The General Assembly desires to support the economic development goals of this State by improving the availability of early stage capital for emerging high-growth enterprises in South Carolina. To further these goals, this chapter is intended to:  (1) encourage individual angel investors to invest in early stage, high-growth, job-creating businesses;  (2) enlarge the number of high-quality, high-paying jobs within the State;  (3) expand the economy of this State by enlarging its base of wealth-creating businesses; and  (4) support businesses seeking to commercialize technology invented in this state's institutions of higher education.  HISTORY: 2013 Act No. 80, Section 1.A, eff June 14, 2013; 2020 Act No. 138 (S.76), Section 3.B., eff May 26, 2020.  Editor's Note  2013 Act No. 80, Section 1.B., as amended by 2020 Act No. 138, Section 3.A., and Section 3, provide as follows:  "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed."  "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012."  2020 Act No. 138, Section 3.B., provides as follows:  "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
SC Code § 11-44-40 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 44 - High Growth Small Business Job Creation Act|Section 11-44-40. Nonrefundable income tax credit for qualified investments.

 (A) An angel investor is entitled to a nonrefundable income tax credit of thirty-five percent of its qualified investment made pursuant to this chapter.  (B) Fifty percent of the allowed credit may be applied to the angel investor's net income tax liability in the tax year during which the qualified investment is made, and fifty percent of the allowed credit may be applied to the angel investor's net income tax liability in the tax years after the qualified investment is made and may be carried forward for a period not to exceed ten years for these purposes as provided in Section 11-44-50.  (C) For any pass-through entity making a qualified investment directly in a qualified business, each individual who is a shareholder, partner, or member of the entity must be allocated the credit allowed the pass-through entity in an amount determined in the same manner as the proportionate shares of income or loss of such pass-through entity would be determined. The pass-through entity must make an irrevocable election with the Department of Revenue as to the manner in which the credit is allocated. If an individual's share of the pass-through entity's credit is limited due to the maximum allowable credit under this chapter for a taxable year, the pass-through entity and its owners may not reallocate the unused credit among the other owners.  HISTORY: 2013 Act No. 80, Section 1.A, eff June 14, 2013; 2020 Act No. 138 (S.76), Section 3.B., eff May 26, 2020.  Editor's Note  2013 Act No. 80, Section 1.B., as amended by 2020 Act No. 138, Section 3.A., and Section 3, provide as follows:  "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed."  "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012."  2020 Act No. 138, Section 3.B., provides as follows:  "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
SC Code § 11-44-80 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 44 - High Growth Small Business Job Creation Act|Section 11-44-80. Tax credits not considered securities.

 Tax credits generated as a result of these investments are not considered securities under the laws of this State.  HISTORY: 2013 Act No. 80, Section 1.A, eff June 14, 2013; 2020 Act No. 138 (S.76), Section 3.B., eff May 26, 2020.  Editor's Note  2013 Act No. 80, Section 1.B., as amended by 2020 Act No. 138, Section 3.A., and Section 3, provide as follows:  "[1.]B. The provisions of Chapter 44, Title 11, contained in this act are repealed on December 31, 2025. Any carry forward credits shall continue to be allowed until the ten-year time period in Section 11-44-40(B) is completed."  "SECTION 3. This act takes effect upon approval by the Governor, and the tax credits permitted by this chapter are first available for investments made after December 31, 2012."  2020 Act No. 138, Section 3.B., provides as follows:  "[3.]B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2019. The provisions of Chapter 44, Title 11, as they existed on December 31, 2019, are re-enacted, and the tax credits earned pursuant to this SECTION shall be earned and claimed under the same terms and conditions as they existed on December 31, 2019. This SECTION shall continue to apply until such time as Chapter 44, Title 11, or parts thereof, are otherwise repealed, mutatis mutandis."
SC Code § 11-45-10 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 45 - Venture Capital Investment Act Of South Carolina|Section 11-45-10. Short title.

 This chapter may be cited as the "Venture Capital Investment Act of South Carolina".  HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1.
SC Code § 11-45-20 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 45 - Venture Capital Investment Act Of South Carolina|Section 11-45-20. Legislative intent.

 The General Assembly desires to increase the availability of equity, near-equity, or seed capital for emerging, expanding, relocating, and restructuring enterprises in the State, so as to help strengthen the state's economic base, and to support the economic development goals of this State in accordance with the strategy established by the Department of Commerce. The General Assembly also desires to address the long-term capital needs of small-sized and medium-sized firms, to address the needs of micro enterprises, to expand availability of venture capital, and to increase international trade and export finance opportunities for South Carolina based companies.  HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1.
SC Code § 11-45-50 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 45 - Venture Capital Investment Act Of South Carolina|Section 11-45-50. Solicitation of investment plans; contents; contracts with designated investor groups.

 (A)(1) The authority shall solicit as necessary from time to time investment plans for the raising and investing of capital in accordance with the requirements of this chapter.  (2) Investment plans submitted shall address such matters as may be required by the authority including, but not limited to the submitting person's:  (a) level of experience;  (b) quality of management;  (c) investment philosophy and process;  (d) probability of success in fund raising; and  (e) plan for achieving the purposes of this chapter.  (3) The authority shall consider the investment plans submitted pursuant to this section and shall select one or more designated investor groups deemed best qualified to:  (a) capitalize one or more private revolving funds in accordance with this chapter;  (b) invest the capital as permitted by this chapter in a manner mobilizing equity, near-equity or seed capital investments in ventures promoting the economic development goals of this State; and  (c) help build a significant, fiscally strong, and permanent resource to serve the objectives expressed in this chapter.  (B)(1) Each designated investor group selected pursuant to subsection (A)(3) of this section shall enter into a designated investor contract with the authority, which designated investor contract must contain any investment guidelines and other terms and conditions the authority considers necessary, advisable, or appropriate.  (2) A designated investor contract may authorize a designated investor group to invest capital either through investors or directly in South Carolina based companies, or both; provided, however, that any designated investor group authorized to invest directly in South Carolina based companies shall meet the requirements set forth in this chapter for an investor.  (3) The authority may charge a fee under each designated investor contract as compensation.  (C) Each designated investor group must have a manager who is a person with demonstrated substantial successful experience in the design, implementation, and management of venture capital investment programs and in capital formation.  (D) The authority shall have the right as further specified in the designated investor contract to:  (1) remove and replace any designated investor group; and  (2) effect the assignment of all assets, liabilities, and tax credits acquired or incurred in connection with this chapter to any other designated investor group.  HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1; 2007 Act No. 83, Section 8.B; 2007 Act No. 110, Section 4.B; 2007 Act No. 116, Section 2.B.
SC Code § 11-45-60 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 45 - Venture Capital Investment Act Of South Carolina|Section 11-45-60. Selection of investment plans.

 Each designated investor group authorized by its designated investor contract shall solicit from investors plans for the investing of capital held in the designated investor group's revolving fund in accordance with the requirements of this chapter. Each designated investor group shall consider and select the investment plans and shall select investors qualified to:  (1) make the most effective and efficient utilization of the investment; and  (2) invest in venture capital investments, requiring equity, near-equity, or seed capital which promote the economic development goals of this State in accordance with the strategy established by the Department of Commerce.  HISTORY: 2004 Act No. 187, Section 5; 2005 Act No. 125, Section 1.