rent are used in the most efficient manner, is directed to develop a program to manage the leasing of all public and private space of state agencies a governmental body. The department must submit regulations for the implementation of this section to the General Assembly as provided in the Administrative Procedures Act, Chapter 23, Title 1. The board’s department’s regulations, upon General Assembly approval, shall include procedures for: (1) assessing and evaluating agency needs, including the authority to require agency justification for any request to lease public or private space; (2) establishing standards for the quality and quantity of space to be leased by a requesting agency; (3) devising and requiring the use of a standard lease form (approved by the Attorney General) with provisions which assert and protect the state’s prerogatives including, but not limited to, a right of cancellation in the event of: (a) a nonappropriation for the renting agency, (b) a dissolution of the agency, and (c) the availability of public space in substitution for private space being leased by the agency; (4) rejecting an agency’s request for additional space or space at a specific location, or both; (5) directing agencies to be located in public space, when available, before private space can be leased; (6) requiring the agency to submit a multiyear financial plan for review by the board’s budget office department with copies sent to Ways and Means Committee and Senate Finance Committee, before any new lease for space is entered into; and requiring prior review by the Joint Bond Review Committee and the requirement of Budget and Control Board approval before the adoption of any new lease that commits more than one million dollars in a fiveyear period; and (7) requiring prior review by the Joint Bond Review Committee and the requirement of Budget and Control Board South Carolina Contracts and Accountability Authority approval before the adoption of any new or renewal lease that commits more than two hundred thousand dollars annually in rental or lease payments or more than one million dollars in such payments in a fiveyear period. (B) Leases or rental agreements involving amounts below the thresholds provided in item (7) of subsection (A) may be executed by the Department of Administration without this prior review and approval.
(F) State agencies and political subdivisions shall cooperate with the Office of State Budget Revenue and Fiscal Affairs Office in preparing fiscal impact statements. Such agencies and political subdivisions shall submit requested information to the Office of State Budget Revenue and Fiscal Affairs Office in a timely fashion. (G) In preparing fiscal impact statements, the Office of State Budget Revenue and Fiscal Affairs Office shall consider and evaluate information as submitted by state agencies and political subdivisions. The Office of State Budget Revenue and Fiscal Affairs Office shall provide to the requesting Senate or House of Representatives committee any estimates provided by a state agency or political subdivision, which are substantially different from the fiscal impact as issued by the Office of State Budget Revenue and Fiscal Affairs Office. (H) The Office of State Budget Revenue and Fiscal Affairs Office may request information from nongovernmental agencies and organizations to assist in preparing the fiscal impact statement.” SECTION 18. Section 2776 of the 1976 Code is amended to read: “Section 2776. (A) The chairman of the legislative committee to which a bill or resolution was referred shall direct the Budget Division or the Economic Research Section of the Budget and Control Board, as appropriate, Revenue and Fiscal Affairs Office to prepare and affix to it a statement of the estimated fiscal or and revenue impact and cost to the counties and municipalities of the proposed legislation before the legislation is reported out of that committee if a bill or resolution: (1) requires a county or municipality to expend funds allocated to the county or municipality pursuant to Chapter 27 of Title 6; (2) is introduced in the General Assembly to require the expenditure of funds by a county or municipality; (3) requires the use of county or municipal personnel, facilities, or equipment to implement a general law or regulations promulgated pursuant to a general law; or (4) relates to taxes imposed by political subdivisions. (B) A revised estimated fiscal or and revenue impact and cost statement must be prepared at the direction of the presiding officer of the House of Representatives or the Senate by the Budget
reports to the Budget and Control Board, the General Assembly and the Governor’s Office. The reports shall contain information concerning the amount of funds available from both federal and state sources, requests for grants and the status of such requests and such other information as the director may deem appropriate. The director shall maintain such records as may be necessary for the efficient operation of the office. The Division of Administration, under contractual agreement, shall furnish the Local Government Division such accounting service support as may be requested.” B. Section 11126 of the 1976 Code is amended to read: “Section 11126. (A) Grant funds received by a county, municipality, political subdivision, or other public entity from the Division of Local Government of the State Budget and Control Board Rural Infrastructure Authority must be deposited in a separate fund and may not be commingled with other funds, including other grant funds. Disbursements may be made from this fund only on the written authorization of the individual who signed the grant application filed with the division, or his successor, and only for the purposes specified in the grant application. A person violating the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined five thousand dollars or imprisoned for six months, or both. (B) It is not a defense to an indictment alleging a violation of this section that grant funds received from the Division of Local Government were used by a grantee or subgrantee for governmental purposes other than those specified in the grant application or that the purpose for which the grant was made by the Division of Local Government was accomplished by funds other than grant funds. (C) The Division of Local Government of the State Budget and Control Board Rural Infrastructure Authority shall furnish a copy of this section to a grantee when the grant is awarded.” C. Chapter 50, Title 11 of the 1976 Code is amended by adding: “Section 115065. The Department of Administration shall provide such administrative support to the State Rural Infrastructure Authority or any of its divisions or components as they may request and require in the performance of their duties including, but not limited to, financial management, human
(10) ‘Employee insurance program’ or ‘EIP’ means the office of the South Carolina Public Employee Benefit Authority Employee Insurance Services Division of the Department of Administration designated by the board to operate insurance programs pursuant to this article, except as otherwise provided by law. (11) ‘IBNR’ means unpaid health claims incurred but not reported. The liability for IBNR claims is actuarially estimated based on the most current historical claims experience of previous payments, inflation, award trends, and estimates of health care trend changes. (12) ‘Operating account’ means the health insurance program’s business operating activities account maintained by the State Treasurer in which are deposited all premiums for enrollees in selffunded health plans authorized in this article, along with employer contributions for active employees covered by such selffunded health plans, and from which claims and administrative expenses of the selffunded health and dental plans administered by the employee insurance program are paid. (13) ‘Statecovered entity’ means state agencies and institutions, however described, and school districts. It also includes political subdivisions of the State that participate in the state health and dental plans. (14) ‘State health and dental plans’ means any insurance program administered by the employee insurance program pursuant to this article. (15) ‘SCRHI Trust Fund’ means the South Carolina Retiree Health Insurance Trust Fund established pursuant to Section 111705 to fund the employer cost for health benefits for retired state employees and retired public school district employees. (16) ‘State Retirement System’ or ‘State Retirement Systems’ means all retirement systems established pursuant to Title 9 except for the National Guard Retirement System. (17) ‘Unfunded actuarial accrued liability’ means for any actuarial valuation the excess of the actuarial accrued liability over the actuarial value of the assets of the fund under an actuarial cost method utilized by the fund for funding purposes. (18) ‘Trust fund paid premiums’ means the employer premium for state health and dental plans coverage paid by the SCRHI Trust Fund on behalf of a retiree. When it is expressed as a percentage of trust fund paid premiums, it means that the SCRHI Trust Fund shall pay the stated percentage of the employer premiums, with the retiree paying the balance of the employer premiums and the entire employee premium.
university at which the person is enrolled as a student or otherwise regularly attending classes for academic credit unless the person is employed as a school bus driver and is paid by the same school district in which the person is enrolled in school. In determining student status, the system may consider the guidelines of the Social Security Administration regarding student services and other criteria the system uniformly prescribes. (12) ‘Employee annuity’ means annual payments for life derived from the accumulated contributions of a member. (13) ‘Employee annuity reserve’ means the present value of all payments to be made on account of an employee annuity or benefit in lieu of the employee annuity, computed on the basis of mortality tables adopted by the board authority and regular interest. (14) ‘Employer’ means this State, a county board of education, a district board of trustees, the board of trustees or other managing board of a statesupported college or educational institution, or any other agency of this State by which a teacher or employee is paid; the term ‘employer’ also includes a county, municipality, or other political subdivision of the State, or an agency or department of any of these, which has been admitted to the system under the provisions of Section 91470, a service organization referred to in item (11)(e) of this section, an alcohol and drug abuse planning agency authorized to receive funds pursuant to Section 611220, and a local council on aging or other governmental agency providing aging services funded by the Office on Aging, Office of the Lieutenant Governor. (15) ‘Employer annuity’ means annual payments for life derived from money provided by the employer. (16) ‘Employer annuity reserve’ means the present value of all payments to be made on account of an employer annuity or benefit in lieu of the employee annuity, computed on the basis of mortality tables adopted by the board authority and regular interest. (17) [Reserved] (18) ‘Member’ means a teacher or employee included in the membership of the system as provided in Article 5 of this chapter. (18A) ‘Class Three member’ means an employee member of the system with an effective date of membership after June 30, 2012. (19) ‘Military service’ means: (a) service in the United States Army, United States Navy, United States Marine Corps, United States Air Force, or United States Coast Guard;
proportionate part thereof on a lifetime basis, as determined by the actuary. The minimum increase pursuant to this section, inclusive of the increase in the supplemental allowances, shall be five dollars per month. However, if an optional benefit has been elected, the minimum shall be reduced actuarially as determined by the board authority, and shall be applicable to the retired member or his designated beneficiary under the option elected.” 23. Section 911775 of the 1976 Code, as last amended by Act 176 of 2010, is further amended to read: “Section 911775. (A) The Death Benefit Plan for members of the South Carolina Retirement System, hereinafter referred to as the ‘plan, is established for the purpose of providing for the payment of the benefits provided by Section 911770. (B) A separate fund, to be known as the Death Benefit Plan Reserve Fund, is established within the South Carolina Retirement System, hereinafter referred to as the ‘retirement system’, to be held in trust by the board authority. The fund shall consist of all contributions paid by the employers and other monies received and paid into the fund for death benefit purposes, and of the investment earnings on these monies, and must be used only to pay the death benefits prescribed by subsection (C). Concurrent with the determination of the initial liability of the plan for the balance of the fiscal year on and after the effective date of the benefit, for the death benefit provided and to be paid for pursuant to this plan, there must be segregated and transferred from the Employer Annuity Accumulation Fund of the retirement system to the reserve fund created by this section the amounts determined by the actuary to be necessary to pay anticipated death benefit claims. Subsequent segregations and transfers must be made as required to pay the death benefit prescribed by subsection (C) from the reserve fund provided by this section. (C) At the death of a member who has met the eligibility requirements set forth in Section 911770, a benefit equal to the death benefit provided by Section 911770 must be paid to the person nominated by the member in accordance with the provisions of Section 911770 or to the member’s estate. (D) The actuary shall investigate the claim experience of the plan as provided by Section 91250. On the basis of these investigations and upon the recommendation of the actuary, as provided in Section 911210, the board authority shall certify the
(2) ‘Accumulated contributions’ means the sum of all the amounts deducted from the compensation of a member and credited to the member’ s individual account in the employee annuity savings fund, together with regular interest on the account, as provided in this chapter. (3) Active member’ means a member who is compensated by an employer participating in the system and who is making regular retirement contributions to the system. (4) ‘Actuarial equivalent’ means a benefit of equal value when computed on the basis of the tables and regular interest rate last adopted by the board authority, as provided in Section 91130. (5) ‘Aggregate additional contributions’ means the sum of all the contributions made by a member pursuant to Section 911210 in effect before July 1, 1974, and any amounts transferred from another fund which are treated as additional contributions pursuant to Section 911210 in effect before July 1, 1974, or Section 911210(6) as amended as of that date. (6) ‘Aggregate contributions’ means the sum of all the amounts deducted from the compensation of a member and credited to the member’s individual account in the system, including any amounts transferred from another fund to the system as provided in Section 911210(6). (7)(a) ‘Average final compensation’ after July 1, 1986, for Class One and Class Two members means the average annual compensation of a member during the twelve consecutive quarters of the member’s creditable service on which regular contributions as a member were made to the system producing the highest average; a quarter means a period January through March, April through June, July through September, or October through December. An amount up to and including fortyfive days’ termination pay for unused annual leave at retirement may be added to the average final compensation. Average final compensation for an elected official may be calculated as the average annual earnable compensation for the thirtysix consecutive months before the expiration of his term of office. (b) ‘Average final compensation’ for Class Three members means the average annual earnable compensation of a member during the twenty consecutive quarters of the member’s creditable service on which regular contributions as a member were made to the system producing the highest such average; a quarter means a period January through March, April through June, July through September, or October through December. Termination pay for