reglab/housing_qa huggingface dataset:
SC Code § 11-41-40 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-40. Issuance of bonds pursuant to chapter.

 To obtain funds for allocation to the department or to the State or agency, instrumentality, or political subdivision, as the case may be, for financing of infrastructure, there are issued from time to time state general obligation economic development bonds under the conditions prescribed by this chapter. Subject to Section 11-41-90(6), bonds for an economic development project may be issued in one or more series, pursuant to one or more notifications required by Section 11-41-70.  HISTORY: 2002 Act No. 254, Section 1; 2005 Act No. 114, Section 3; 2013 Act No. 13, Section 5, eff April 23, 2013.  Effect of Amendment  The 2013 amendment added the last sentence, relating to Sections 11-41-70 and 11-41-90.
SC Code § 11-41-60 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-60. Maximum annual debt service on bonds issued pursuant to chapter.

 The maximum annual debt service on bonds issued pursuant to Section 11-41-50(A) must not exceed one-half of one percent of the general revenues for the fiscal year next preceding, excluding revenues which are authorized to be pledged for state highway bonds and state institution bonds. Bonds issued pursuant to Section 11-41-50(B) shall not be subject to the limitation on maximum annual debt service prescribed by Section 13(6)(c), Article X. The maximum annual debt service on bonds issued pursuant to Section 11-41-50(C), when combined with the debt service on all other general obligation bonds issued under the five percent limitation established in Section 13(6)(c), which limitation does not include bonds issued pursuant to subsection (A) or subsection (B) of Section 11-41-50, research university infrastructure bonds issued pursuant to Chapter 51 of this title, highway bonds, state institution bonds, tax anticipation notes, and bond anticipation notes, must not exceed five percent of the general revenues of the fiscal year next preceding, excluding revenues which are authorized to be pledged for state highway bonds and state institution bonds.  HISTORY: 2002 Act No. 254, Section 1; 2009 Act No. 124, Section 5.C; 2013 Act No. 13, Section 7, eff April 23, 2013.  Effect of Amendment  The 2013 amendment added the third sentence, relating to Section 11-41-50(C), and made other nonsubstantive changes.
SC Code § 11-41-80 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-80. Adoption of resolution effecting issue of bonds.

 Following the receipt of the notification presented pursuant to Section 11-41-70 and after review by the Joint Bond Review Committee, and approval by the State Fiscal Accountability Authority, by resolution duly adopted, shall effect the issue of bonds, or pending the issue of the bonds, effect the issue of bond anticipation notes pursuant to Chapter 17 of this title.  HISTORY: 2002 Act No. 254, Section 1; 2014 Act No. 121 (S.22), Pt VII, Section 20.H.2, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 20.H.2, substituted "review" for "approval" before "by the Joint Board", and substituted "and approval by the State Fiscal Accountability Authority" for "the State Budget and Control Board".
SC Code § 11-41-90 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-90. Authorizing resolution.

 To effect the issuance of bonds, the State Fiscal Accountability Authority shall adopt a resolution providing for the issuance of bonds pursuant to the provisions of this chapter. The authorizing resolution must include:  (1) a statement of whether the bonds are being authorized and issued pursuant to Section 11-41-50(A), Section 11-41-50(B), or Section 11-41-50(C);  (2) a schedule showing the aggregate of bonds issued, the annual principal payments required to retire the bonds, and the interest on the bonds;  (3) the amount of bonds proposed to be issued;  (4) a schedule showing future annual principal requirements and estimated annual interest requirements on the bonds to be issued; and  (5) certificates evidencing that the provisions of Sections 11-41-50 and 11-41-60 have been or will be met.  (6) a statement that the resolution required by this section for the issuance of bonds pursuant to this chapter is adopted not later than eighteen months after the date of the first notification to the Joint Bond Review Committee and the State Fiscal Accountability Authority with respect to such economic development project pursuant to Section 11-41-70.  HISTORY: 2002 Act No. 254, Section 1; 2009 Act No. 124, Section 5.D; 2013 Act No. 13, Section 9, eff April 23, 2013; 2014 Act No. 121 (S.22), Pt VII, Section 20.H.2, eff July 1, 2015.  Code Commissioner's Note  The reference to Section 11-41-50(C) in subsection (1), and subsection (6) were inadvertently omitted from 2014 Act No. 121, Section 20.H.2. This text, as added by 2013 Act No. 13, Section 9, has been restored, and the phrase "Fiscal Accountability Authority" has been substituted in subsection (6) for "Budget and Control Board".  Effect of Amendment  The 2013 amendment, in subsection (1), inserted the reference to Section 11-41-50(C), and added subsection (6), relating to Section 11-41-70.  2014 Act No. 121, Section 20.H.2, in the first undesignated paragraph, substituted "Fiscal Accountability Authority" for "Budget and Control Board"; and made other nonsubstantive changes.
SC Code § 11-41-100 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-100. Bond maturity date and terms; determination of interest rate.

 The bonds must bear the date and mature at the time that the resolution provides, except that a bond may not mature more than thirty years from its date of issue. The bonds may be in the denominations, be payable in the medium of payment, be payable at the place and at the time, and be subject to redemption or repurchase and contain other provisions determined by the State Fiscal Accountability Authority before their issue. The bonds may bear interest payable at the times and at the rates determined by the State Fiscal Accountability Authority.  HISTORY: 2002 Act No. 254, Section 1; 2014 Act No. 121 (S.22), Pt VII, Section 20.H.2, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 20.H.2, twice substituted "Fiscal Accountability Authority" for "Budget and Control Board".
SC Code § 11-41-110 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-110. Bonds exempt from taxation.

 All bonds issued under this chapter are exempt from taxation as provided in Section 12-2-50.  HISTORY: 2002 Act No. 254, Section 1.
SC Code § 11-41-120 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-120. Executive signature and State seal requirements.

 All bonds issued under this chapter must be signed by the Governor and the State Treasurer and attested by the Secretary of State. The Governor, State Treasurer, and Secretary of State may sign these obligations by a facsimile of their signatures. The Great Seal of the State must be affixed to, impressed on, or reproduced upon each of them. The delivery of the bonds executed and authenticated, as provided in the resolution, is valid notwithstanding changes in officers or seal occurring after the execution or authentication.  HISTORY: 2002 Act No. 254, Section 1; 2004 Act No. 187, Section 3.D.
SC Code § 11-41-130 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-130. Payment of principal and interest.

 For the payment of the principal and interest on all bonds 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 and interest on the debt authorized by this chapter.  HISTORY: 2002 Act No. 254, Section 1.
SC Code § 11-41-140 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-140. Sale of bonds.

 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.  HISTORY: 2002 Act No. 254, Section 1.
SC Code § 11-41-150 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-150. Application of proceeds; liability of purchasers for misapplication.

 The proceeds of the sale of bonds must be received by the State Treasurer and applied by the State Treasurer to the purposes for which issued, except that the accrued interest, if any, may be used to discharge in part the first interest to become due on the bonds, but the purchasers of the bonds in no way are liable for the proper application of the proceeds to the purposes for which they are intended.  HISTORY: 2002 Act No. 254, Section 1; 2004 Act No. 184, Section 3.
SC Code § 11-41-160 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-160. Purchase by fiduciaries.

 It is lawful for all executors, administrators, guardians, and other fiduciaries to invest any monies in their hands in bonds issued pursuant to this chapter.  HISTORY: 2002 Act No. 254, Section 1.
SC Code § 11-41-170 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-170. Expenditure of proceeds.

 The proceeds received from the issuance of bonds, after deducting the costs of issuance, must be expended only for the purpose of providing infrastructure.  HISTORY: 2002 Act No. 254, Section 1.
SC Code § 11-41-180 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 41 - State General Obligation Economic Development Bond Act|Section 11-41-180. Infrastructure procurement procedures for research universities.

 All procurements of infrastructure, as defined in Section 11-41-30 and owned by a research university, as defined in Section 11-51-30(5), shall be exempt from Title 11, Chapter 35, except that such research university must work in conjunction with the State Fiscal Accountability Authority's Chief Procurement Officer to establish alternative procurement procedures. The research university shall submit its alternative procurement procedures to the State Fiscal Accountability Authority for approval. The procurement process shall include provisions for audit and recertification.  HISTORY: 2004 Act No. 187, Section 3.E; 2014 Act No. 121 (S.22), Pt VII, Section 20.H.3, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 20.H.3, substituted "State Fiscal Accountability Authority's" for "Budget and Control Board's" in the first sentence, and substituted "Fiscal Accountability Authority" for "Budget and Control Board" in the second sentence.
SC Code § 11-42-10 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-10. Short title.

 This chapter may be cited as the South Carolina Comprehensive Infrastructure Development Act.  HISTORY: 1997 Act No. 155, Part II, Section 74B.
SC Code § 11-42-20 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-20. Legislative purpose.

 Comprehensive infrastructure development and planning is vitally important to the State and to its local political subdivisions. The General Assembly, by this chapter, creates a state program and a unit of state government to work with state agencies, regional councils of government, and local political subdivisions to coordinate infrastructure planning, to assist in development of comprehensive regional infrastructure development plans, and to identify and coordinate the funding related to infrastructure development distributed through state agencies in order to maximize efficiency and promote comprehensive infrastructure development planning.  HISTORY: 1997 Act No. 155, Part II, Section 74B.
SC Code § 11-42-30 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-30. Definitions.

 As used in this chapter:  (1) "Board" means the governing board of the Rural Infrastructure Authority.  (2) "County" means any county of this State.  (3) "Division of Regional Development" is a division of the board. This division is be the designated state program for coordination of comprehensive state and regional infrastructure planning.  (4) "Director" is the Director of the Division of Regional Development.  (5) "Executive director" means the executive director of the board.  (6) "Infrastructure" means the basic facilities, services, and installations needed for the functioning of government including, but not limited to, water, sewer, and public sector communications. Infrastructure as used in this chapter does not mean transportation, power delivery systems, health planning and delivery systems, or except for the purposes of public sector communications planning, commercial communication systems.  (7) "Infrastructure Development Plans" means any written proposal by the State, county, municipality, special purpose district or regional council of government that involves development of infrastructure as defined in this chapter. These plans include, but are not limited to, such matters as water and sewerage systems, and communications. The plans must be proposed and prepared pursuant to recommended standards and procedures for the preparation and implementation of infrastructure development plans established in accordance with this chapter by the Division of Regional Development and the Regional Councils of Government. Any plan developed for communications must consider available existing private sector communications facilities, systems, and services.  (8) "Municipality" as described in Section 5-1-20 means any city or town which has been issued a certificate of incorporation or which has been created by act of the General Assembly.  (9) "Political subdivision" means any municipality, county, public service district, or special purpose district.  (10) "Regional Councils of Government" are as described in Section 6-7-110.  (11) "South Carolina Advisory Commission on Intergovernmental Relations" means the commission created pursuant to Section 1-27-10 which, as part of the office of the executive director of the board, researches intergovernmental problems.  (12) "State Advisory Council for Regional Development" or "state council" means the Advisory Council for Regional Development created by this chapter.  (13) "Communications" means public sector communications.  HISTORY: 1997 Act No. 155, Part II, Section 74B; 2014 Act No. 121 (S.22), Pt V, Section 7.W.1, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 7.W.1, in subsection (1), substituted "governing board of the Rural Infrastructure Authority" for "State Budget and Control Board".
SC Code § 11-42-40 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-40. Division of Regional Development; director.

 (A) There is created the Division of Regional Development as a division within the Rural Infrastructure Authority. The division shall report to the executive director of the board.  (B) The division is managed and directed by a director appointed by the executive director of the board, and who shall serve at the pleasure of the executive director.  HISTORY: 1997 Act No. 155, Part II, Section 74B; 2014 Act No. 121 (S.22), Pt V, Section 7.W.2, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 7.W.2, in subsection (A), substituted "Rural Infrastructure Authority" for "State Budget and Control Board".
SC Code § 11-42-50 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-50. Responsibilities and powers of division.

 The Division of Regional Development is the state program responsible for the creation of a state infrastructure development plan, for the coordination of regional infrastructure development plans, and for the coordination of state programs and resources that impact or affect infrastructure development. To fulfill its public mandate, the division is expressly authorized to perform the following functions and exercise the following powers:  (1) prescribe recommended elements to be included in any comprehensive regional infrastructure development plan;  (2) coordinate and qualify regional infrastructure development plans;  (3) create a state infrastructure development plan through consultation with other appropriate state agencies;  (4) provide training, education, resources and technical assistance to enable and support the efforts of local governments and the Regional Councils of Government to create and develop comprehensive infrastructure development plans;  (5) to participate as a party, as an advocate, or otherwise, in state government and state agency decision-making processes that impact or affect infrastructure development;  (6) to coordinate relevant state government actions and programs that impact or affect infrastructure development in order to focus and direct these actions and programs to support and assist the development and implementation of the State and regional infrastructure development plans;  (7) to identify and coordinate public funds, regardless of original source, that are expended or distributed by state agencies to help underwrite or support infrastructure development in order that state agency expenditures and distributions of public funds are both consistent with and supportive of state and regional infrastructure development plans; and  (8) to request and receive assistance and support from other state agencies and programs as needed by the division.  HISTORY: 1997 Act No. 155, Part II, Section 74B.
SC Code § 11-42-60 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-60. Additional administrative powers.

 The division shall function as a division of the Rural Infrastructure Authority and has all administrative and program authority necessary to fulfill its public mandate including, but not limited to, the following powers:  (1) to solicit, receive, and expend public and private funds from any relevant sources and entities in order to carry out the purposes of the division; and  (2) to prescribe and charge fees for its services, which fees must be retained and expended for division purposes.  HISTORY: 1997 Act No. 155, Part II, Section 74B; 2014 Act No. 121 (S.22), Pt V, Section 7.W.3, eff July 1, 2015.  Effect of Amendment  2014 Act No. 121, Section 7.W.3, in the first undesignated paragraph, substituted "Rural Infrastructure Authority" for "State Budget and Control Board".
SC Code § 11-42-80 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 42 - South Carolina Comprehensive Infrastructure Development Act|Section 11-42-80. State agencies required to make regulatory decisions consistent with state and regional comprehensive infrastructure development plans.

 Every state agency and program that licenses, permits, regulates, or otherwise sanctions activities by government entities and programs related to infrastructure development is expressly authorized and required by this chapter to consider and determine whether a respective governmental regulatory decision is consistent with state and regional comprehensive infrastructure development plans.  HISTORY: 1997 Act No. 155, Part II, Section 74B.
SC Code § 11-43-110 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-110. Short title.

 This chapter may be referred to as the "South Carolina Transportation Infrastructure Bank Act."  HISTORY: 1997 Act No. 148, Section 2.
SC Code § 11-43-120 (2021)
2021 South Carolina Code of Laws|Title 11 - Public Finance|Chapter 43 - South Carolina Transportation Infrastructure Bank Act|Section 11-43-120. Creation of South Carolina Transportation Infrastructure Bank; board of directors; corporate purpose; accounts.

 (A) There is created a body corporate and politic and an instrumentality of the State to be known as the South Carolina Transportation Infrastructure Bank.  (B) The bank is governed by a board of directors as provided in this chapter.  (C) The corporate purpose of the bank is to select and assist in financing major qualified projects by providing loans and other financial assistance to government units and private entities for constructing and improving highway and transportation facilities necessary for public purposes including economic development. The exercise by the bank of a power conferred in this chapter is an essential public function.  (D) The bank shall establish and maintain at least the four following accounts: state highway account, state transit account, federal highway account, and federal transit account.  HISTORY: 1997 Act No. 148, Section 2.