South Carolina Statutes
§ 59-1-480 — Lapsed funds; priority of use.
South Carolina § 59-1-480
This text of South Carolina § 59-1-480 (Lapsed funds; priority of use.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 59-1-480 (2026).
Text
Notwithstanding any other provision of law, lapsed funds, including unexpended appropriated funds or revenue in excess of appropriations in the EIA Fund, in a prior or current fiscal year must first be used to offset an official EIA revenue shortfall declared by the Board of Economic Advisors and then to fund any school district's appropriation deficit for EIA Teacher Salary Supplement, Teacher Salary Supplement Fringe, or National Board Certification Incentive. The remaining lapsed funds must be used in accordance with Section 59-21-420. If an official EIA revenue shortfall is declared, funds appropriated for EIA teacher salaries and related fringe benefits in the EIA portion of the annual general appropriations act are exempt from any reduction required to offset the shortfall.
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Legislative History
HISTORY: 2002 Act No. 356, SECTION 1, Part I.B.
Nearby Sections
15
§ 59-1-10
Short title.§ 59-1-110
"Private school" defined.§ 59-1-120
"Public school" defined.§ 59-1-130
"Teacher" defined.§ 59-1-140
"Teacher aide" defined.§ 59-1-160
"School district" defined.§ 59-1-170
"State Board" defined.§ 59-1-190
"State Department" defined.§ 59-1-200
"Scholastic year" defined.§ 59-1-30
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Bluebook (online)
South Carolina § 59-1-480, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/1/59-1-480.