South Carolina § 11-11-240 Safety Maintenance Account.

South Carolina Statutes

§ 11-11-240 — Safety Maintenance Account.

South Carolina § 11-11-240

Title 11PUBLIC FINANCE

Ch. 11STATE BUDGET SYSTEM

This text of South Carolina § 11-11-240 (Safety Maintenance Account.) 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. § 11-11-240 (2026).

Text

(A)There is created in the State Treasury the Safety Maintenance Account. This account is separate and distinct from the general fund of the State and all other funds. Earnings and interest on this fund must be credited to it and any balance in this fund at the end of a fiscal year carries forward in the fund in the succeeding fiscal year, subject to the provision of Section 12-6-3780(C). Notwithstanding Section 56-3-627, the account must be credited any funds collected pursuant to Section 56-3-627(D). The funds in the account only must be appropriated to offset the costs of the refundable income tax credit allowed pursuant to Section 12-6-3780.

(B)Notwithstanding subsection (A), after December 31, 2022, the Safety Maintenance Account shall no longer be credited funds collected pursuant

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(A) There is created in the State Treasury the Safety Maintenance Account. This account is separate and distinct from the general fund of the State and all other funds. Earnings and interest on this fund must be credited to it and any balance in this fund at the end of a fiscal year carries forward in the fund in the succeeding fiscal year, subject to the provision of Section 12-6-3780(C). Notwithstanding Section 56-3-627, the account must be credited any funds collected pursuant to Section 56-3-627(D). The funds in the account only must be appropriated to offset the costs of the refundable income tax credit allowed pursuant to Section 12-6-3780. (B) Notwithstanding subsection (A), after December 31, 2022, the Safety Maintenance Account shall no longer be credited funds collected pursuant to Section 56-3-627(D). Once the account has expended all its funds on the costs of the credit or are transferred to the Infrastructure Maintenance Trust Fund pursuant to Section 12-6-3780(C), this section is repealed.