reglab/housing_qa huggingface dataset:
SC Code § 59-152-100 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 152 - South Carolina First Steps To School Readiness|Section 59-152-100. Local partnership boards; use of grant funding.

 (A) Grant funds expended by First Steps partnerships must be used to address the needs of young children and their families as identified in the partnerships' comprehensive plans. The funds must be used to expand, extend, or improve the quality of provided services if there is evidence as to existing programs' effectiveness; offer new or previously unavailable services in the area; or increase access to services. Partnership grant funds may not supplant comparable current expenditures by counties or state agencies on behalf of young children and their families, and may not be used where other state or federal funding sources are available. Partnerships are expected to collaborate with other community organizations or entities expending funds on early childhood services designed to impact school readiness in order to maximize impact and minimize duplication of efforts.  (B) At least seventy-five percent of state funds appropriated for programs must be used by the local partnership for evidence-based programs. Not more than twenty-five percent of state funds appropriated for programs to a local partnership may be used for evidence-informed programs.  (C) All activities and services provided by a local partnership must be made available to young children and families on a voluntary basis and must focus solely on "school readiness" as defined in Section 59-152-25 by implementing programs geared specifically toward the achievement of First Steps goals pursuant to Section 59-152-30.  (D) Any part of the initiative within the county strategic plan using local district resources within a school district must be conducted only with approval of the district's board of trustees.  HISTORY: 1999 Act No. 99, Section 2; 2014 Act No. 287 (H.3428), Section 14, eff June 18, 2014.  Editor's Note  2018 Act No. 152, Section 8, provides as follows:  "SECTION 8. Section 20B. of Act 287 of 2014 [reauthorizing the South Carolina First Steps to School Readiness Act until July 1, 2016] is repealed. Act 99 of 1999, South Carolina First Steps to School Readiness Act, as amended by this act, is reauthorized until June 30, 2025."  Effect of Amendment  2014 Act No. 287, Section 14, rewrote the section.
SC Code § 59-152-120 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 152 - South Carolina First Steps To School Readiness|Section 59-152-120. Local partnerships; funding use restrictions.

 Funds received by a local partnership may not be used for capital expenses, new construction, or to renovate, refurbish, or upgrade existing facilities without prior approval by the South Carolina First Steps to School Readiness Board of Trustees.  HISTORY: 1999 Act No. 99, Section 2; 2014 Act No. 287 (H.3428), Section 15, eff June 18, 2014.  Editor's Note  2018 Act No. 152, Section 8, provides as follows:  "SECTION 8. Section 20B. of Act 287 of 2014 [reauthorizing the South Carolina First Steps to School Readiness Act until July 1, 2016] is repealed. Act 99 of 1999, South Carolina First Steps to School Readiness Act, as amended by this act, is reauthorized until June 30, 2025."  Effect of Amendment  2014 Act No. 287, Section 15, rewrote the section.
SC Code § 59-152-130 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 152 - South Carolina First Steps To School Readiness|Section 59-152-130. Matching funds.

 (A) Local partnerships shall provide an annual match of at least fifteen percent, to include private donations, grant funds, and in-kind donated resources, or any combination of them. The South Carolina First Steps to School Readiness Board of Trustees may decrease this percentage requirement for a partnership based on their capacity to provide that match. The First Step partnership shall encourage private individuals and groups to contribute to a partnership's efforts to meet its match. The match required of individual partnerships by the First Steps board should take into consideration such factors as:  (1) local wealth, using such indicators as the number and percentage of children eligible for free and reduced lunches in grades 1-3; and  (2) in-kind donated resources.  Only in-kind donations, as defined by the standard fiscal accountability system provided for in Section 59-152-150, which meet the criteria established by the South Carolina First Steps to School Readiness Board of Trustees and that are quantifiable may be applied to the in-kind match requirement.  (B) The Office of South Carolina First Steps to School Readiness shall establish guidelines and reporting formats for partnerships to document expenses to ensure they meet matching fund requirements. The office shall compile a report annually on the private cash and in-kind contributions received by the South Carolina First Steps to School Readiness Board of Trustees and First Steps partnerships.  HISTORY: 1999 Act No. 99, Section 2; 2014 Act No. 287 (H.3428), Section 16, eff June 18, 2014.  Editor's Note  2018 Act No. 152, Section 8, provides as follows:  "SECTION 8. Section 20B. of Act 287 of 2014 [reauthorizing the South Carolina First Steps to School Readiness Act until July 1, 2016] is repealed. Act 99 of 1999, South Carolina First Steps to School Readiness Act, as amended by this act, is reauthorized until June 30, 2025."  Effect of Amendment  2014 Act No. 287, Section 15, rewrote the section.
SC Code § 59-152-140 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 152 - South Carolina First Steps To School Readiness|Section 59-152-140. Carrying funds forward into subsequent years.

 To ensure effective use of funds, awards under contract for First Steps Partnerships, with the approval of the Office of First Steps to School Readiness, may be carried forward and used in the following fiscal year. Funds appropriated to South Carolina First Steps to School Readiness may also be carried forward into subsequent years.  HISTORY: 1999 Act No. 99, Section 2; 2014 Act No. 287 (H.3428), Section 17, eff June 18, 2014.  Editor's Note  2018 Act No. 152, Section 8, provides as follows:  "SECTION 8. Section 20B. of Act 287 of 2014 [reauthorizing the South Carolina First Steps to School Readiness Act until July 1, 2016] is repealed. Act 99 of 1999, South Carolina First Steps to School Readiness Act, as amended by this act, is reauthorized until June 30, 2025."  Effect of Amendment  2014 Act No. 287, Section 17, deleted "County" before "First Steps Partnerships".
SC Code § 59-153-10 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-10. Definitions.

 As used in this chapter, unless a different meaning is plainly required by the context:  (1) "Agent" means the State Treasurer.  (2) "Assets" means all funds, investments, and similar property owned by the respective state institutions of higher learning and in the custody of the Agent.  (3) "Beneficiary" means an institution of higher learning which may receive a benefit under the program.  (4) "Board" means the Board of Trustees of the respective institution of higher learning acting as trustee of the endowment system.  (5) "Fiduciary" means a person who:  (a) exercises any authority to invest or manage assets of a system;  (b) provides investment advice for a fee or other direct or indirect compensation with respect to assets of a system or has any authority or responsibility to do so; or  (c) is a member of the board of trustees of the respective institution when it acts as trustee for the endowment system.  (6) "Panel" means the State Retirement Systems Investment Panel established pursuant to Section 9-16-310.  (7) "Endowment funds" means those funds donated to the respective individual state-supported institutions of higher learning of the State of South Carolina, which are held and invested by the State Treasurer on behalf of the institutions. The endowment of each institution is separate and cannot be commingled, except under those circumstances where it can be invested in liquid assets as approved by the appropriate trustees.  (8) "Trustee" means the board of trustees of the respective institutions of higher learning.  HISTORY: 1999 Act No. 122, Section 2.  Editor's Note  Section 9-16-310, referenced in item (6), was repealed by 2012 Act No. 278.
SC Code § 59-153-20 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-20. Funds and assets held in trust; trustee; investments.

 (A) All endowment funds and assets purchased with them are held in trust. The board of trustees of each institution of higher learning is the trustee of all endowment funds held in the name of that institution by the State Treasurer. The trustee has the exclusive authority to invest and manage those funds and assets and may invest and reinvest the funds, subject to all the terms, conditions, limitations, and restrictions imposed by Article 7, Chapter 9, Title 11, upon the investment of sinking funds of the State, and, subject to like terms, conditions, limitations, and restrictions, may hold, purchase, sell, assign, transfer, and dispose of any of the securities and investments in which the endowment funds have been invested, plus the proceeds of these investments and any monies belonging to these funds. Additionally, the trustee may invest and reinvest its endowment funds in equity securities of a corporation within the United States that is registered on a national securities exchange as provided in the Securities Exchange Act, 1934, or a successor act, or quoted through the National Association of Securities Dealers Automatic Quotations System, or a similar service.  (B) If endowment funds are invested in a security issued by an investment company registered under the Investment Company Act of 1940 (15 U.S.C. Section 80 a-1, et seq.), the assets of the system include the security, but not assets of the investment company.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-30 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-30. Delegation of functions by trustee.

 (A) The trustee may delegate functions including, but not limited to, day-to-day investment decisions that a prudent trustee acting in a like capacity and familiar with those matters could delegate properly under the circumstances.  (B) The trustee shall exercise reasonable care, skill, and caution in periodically reviewing the agent's performance and compliance with the terms of the delegation.  (C) In performing a delegated function, an agent owes a duty to the endowment and to its beneficiaries to comply with the terms of the delegation and, if a fiduciary, to comply with the duties imposed by Section 59-153-40.  (D) A trustee who complies with subsections (A) and (B) is not liable to the endowment or to its beneficiary for the decisions or actions of the agent to whom the function was delegated.  (E) By accepting the delegation of a function from the trustee, an agent submits to the jurisdiction of the courts of this State.  (F) A trustee may limit the authority of an agent to delegate functions under this section.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-40 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-40. Standards for discharge of duties by trustee or other fiduciary.

 A trustee or other fiduciary shall discharge duties with respect to an endowment fund:  (1) solely in the interest of the endowment fund and beneficiaries;  (2) for the exclusive purpose of providing benefits to his beneficiary and paying reasonable expenses of administering the system;  (3) with the care, skill, and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose;  (4) impartially, taking into account any differing interests of beneficiaries;  (5) incurring only those costs that are appropriate and reasonable; and  (6) in accordance with a good faith interpretation of this chapter.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-50 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-50. Investing and managing assets; objectives and policies.

 (A) In investing and managing assets of an endowment fund pursuant to Section 59-153-40, the trustee:  (1) shall consider among other circumstances:  (a) general economic conditions;  (b) the possible effect of inflation or deflation;  (c) the role that each investment or course of action plays within the overall portfolio of the endowment funds;  (d) needs for liquidity, regularity of income, and preservation or appreciation of capital; and  (e) the adequacy of funding for the plan based on the university's spending policy;  (2) shall diversify the investments of the endowment funds unless the trustee reasonably determines that, because of special circumstances, it is clearly prudent not to do so;  (3) shall make a reasonable effort to verify facts relevant to the investment and management of assets of an endowment fund;  (4) may invest in any kind of property or type of investment consistent with this chapter and Article 7, Chapter 9, Title 11;  (5) may consider benefits created by an investment in addition to investment return only if the trustee determines that the investment providing these collateral benefits would be prudent even without the collateral benefits.  (B) Each trustee shall adopt a statement of investment objectives and policies for its portion of the endowment fund. The statement must include the desired rate of return on assets overall, the desired rates of return and acceptable levels of risk for each asset class, asset-allocation goals, guidelines for the delegation of authority, and information on the types of reports to be used to evaluate investment performance. At least annually, the trustee shall review the statement and change or reaffirm it. The relevant portion of this statement may constitute parts of the annual investment plan required pursuant to Section 59-153-330.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-60 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-60. Compliance by trustee or fiduciary.

 (A) Compliance by the trustee or other fiduciary with Sections 59-153-30, 59-153-40, and 59-153-50 must be determined in light of the facts and circumstances existing at the time of the trustee's or fiduciary's decision or action and not by hindsight.  (B) The trustee's investment and management decisions must be evaluated not in isolation but in the context of the trust portfolio as a whole and as a part of an overall investment strategy having risk and return objectives reasonably suited to the endowment system.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-70 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-70. Breach of duty; liability; insurance.

 (A) The trustee or other fiduciary who breaches a duty imposed by this chapter is liable personally to the endowment fund for any losses resulting from the breach and any profits resulting from the breach or made by the trustee or other fiduciary through use of assets of the fund by the trustee or other fiduciary. The trustee or other fiduciary is subject to other equitable remedies as the court considers appropriate, including removal.  (B) An agreement that purports to limit the liability of a trustee or other fiduciary for a breach of duty under this chapter is void.  (C) The endowment fund may insure a trustee, fiduciary, or itself against liability or losses occurring because of a breach of duty under this chapter.  (D) A trustee or other fiduciary may insure against personal liability or losses occurring because of a breach of duty under this chapter if the insurance is purchased or provided by the individual trustee or fiduciary, but a fiduciary who obtains insurance pursuant to this chapter must disclose all terms, conditions, and other information relating to the insurance policy to the endowment fund.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-80 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-80. Meetings in executive session, records exempt from disclosure where necessary.

 (A) Meetings by the board while acting as trustee of the endowment fund or by its fiduciary agents to deliberate about, or make tentative or final decisions on, investments or other financial matters may be in executive session if disclosure of the deliberations or decisions would jeopardize the ability to implement a decision or to achieve investment objectives.  (B) A record of the board or of its fiduciary agents that discloses deliberations about, or a tentative or final decision on, investments or other financial matters is exempt from the disclosure requirements of Chapter 4 of Title 30, the Freedom of Information Act, to the extent and so long as its disclosure would jeopardize the ability to implement an investment decision or program or to achieve investment objectives.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-90 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-90. Investment reports.

 (A) The trustee shall place investment reports at least semi-annually during the fiscal year in the institution's minutes and shall provide copies of the investment reports upon request.  (B) In addition to the semi-annual reports provided in subsection (A), the trustees shall place in its minutes an annual report of the investment status of the endowment fund. The report must contain:  (1) a description of a material interest held by a trustee, fiduciary, or an employee who is a fiduciary with respect to the investment and management of assets of the fund, or by a related person, in a material transaction with the fund within the last three years or proposed to be effected;  (2) a schedule of the rates of return, net of total investment expense, on assets of the fund overall and on assets aggregated by category over the most recent one-year, three-year, five-year, and ten-year periods, to the extent available, and the rates of return on appropriate benchmarks for assets of the fund overall and for each category over each period;  (3) a schedule of the sum of total investment expense and total general administrative expense for the fiscal year expressed as a percentage of the fair value of assets of the fund on the last day of the fiscal year, and an equivalent percentage for the preceding five fiscal years; and  (4) a schedule of all assets held for investment purposes on the last day of the fiscal year aggregated and identified by issuer, borrower, lessor, or similar party to the transaction stating, if relevant, the asset's maturity date, rate of interest, par or maturity value, number of shares, costs, and fair value and identifying an asset that is in default or classified as uncollectible.  (C) These disclosure requirements are cumulative to and do not replace other reporting requirements provided by law.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-310 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-310. State Retirement Systems Investment Panel.

 The State Retirement Systems Investment Panel has been created and functions pursuant to Sections 9-16-310 and 9-16-320.  HISTORY: 1999 Act No. 122, Section 2.  Editor's Note  Section 9-16-310, referenced in the text, was repealed by 2012 Act No. 278.
SC Code § 59-153-320 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-320. Proposal for annual investment plan.

 (A) The panel shall develop and adopt an annual investment plan for proposal to each trustee for the next fiscal year. No later than June first of each year, the panel shall submit the proposed plans to the respective trustees. Amendments may be made to a plan by the panel during the fiscal year with the approval of the trustee.  (B) The panel shall meet at least once during each fiscal year quarter for the purposes of reviewing the performance of investments, assessing compliance with the annual investment plan, and determining whether to recommend amendments to the plan by the trustee. The panel shall meet at other times as are set by the panel or chairman or requested by the trustee.  (C) The panel may discuss, deliberate on, and make decisions on a portion of the annual investment plan or relate financial or investment matters in executive session if their disclosure would jeopardize the ability to implement that portion of the plan or achieve investment objectives.  (D) A record of the panel or of the trustee or of the trustee's agent that discloses discussions, deliberations, or decisions on portions of the annual investment plan or other related financial or investment matters is not a public record under Section 30-4-20 to the extent and so long as its disclosure would jeopardize the ability to implement that portion of the plan or achieve investment objectives.  (E) The costs of administering the duties of the panel as performed for endowment investments must be paid pro rata, considering the amount of time spent on its duties for each of the various trustees, from the investment earnings of the respective endowment funds.  (F) The panel does not act as a fiduciary with respect to the respective endowment funds, but must exercise reasonable care and skill in carrying out its duties.  (G) The panel may retain independent advisors to assist it and periodically shall provide for an outside evaluation of the investment strategy of the trustee.  HISTORY: 1999 Act No. 122, Section 2.
SC Code § 59-153-330 (2021)
2021 South Carolina Code of Laws|Title 59 - Education|Chapter 153 - Endowment Funds|Section 59-153-330. Statement of policy and objectives.

 (A) The trustee shall provide the panel with a statement of the spending policy and general investment objectives. The trustee shall review the statement annually for the purpose of affirming it or changing it and advise the panel of its actions.  (B) The annual investment plan must be consistent with the actions taken by the trustee pursuant to subsection (A) and must include, but is not limited to, the following components:  (1) general operational and investment policies;  (2) investment objectives and performance standards;  (3) investment strategies, which may include indexed or enhanced indexed strategies as the preferred or exclusive strategies for equity investing, and an explanation of the reasons for the selection of each strategy;  (4) industry sector, market sector, issuer, and other allocations of assets that provide diversification in accordance with prudent investment standards, including desired rates of return and acceptable levels of risks for each asset class;  (5) policies and procedures providing flexibility in responding to market contingencies;  (6) procedures and policies for selecting, monitoring, compensating, and terminating investment consultants, equity investment managers, and other necessary professional service providers; and  (7) methods for managing the costs of the investment activities.  (C) In developing the annual investment plan, the panel shall:  (1) diversify the investments of the endowment funds, unless the panel reasonably determines that, because of special circumstances, it is clearly not prudent to do so; and  (2) make a reasonable effort to verify facts relevant to the investment of assets of the endowment funds.  HISTORY: 1999 Act No. 122, Section 2.