South Carolina § 2-47-40 Information to be furnished by agencies and institutions.

South Carolina Statutes

§ 2-47-40 — Information to be furnished by agencies and institutions.

South Carolina § 2-47-40

Title 2GENERAL ASSEMBLY

Ch. 47JOINT BOND REVIEW COMMITTEE

This text of South Carolina § 2-47-40 (Information to be furnished by agencies and institutions.) 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. § 2-47-40 (2026).

Text

(A)To assist the authority and the Joint Bond Review Committee in carrying out their respective responsibilities, any agency or institution requesting or receiving funds from any source for use in the financing of any permanent improvement project, as a minimum, shall provide to the authority, in such form and at such times as the authority, after review by the committee, may prescribe:

(1)a complete description of the proposed project;

(2)a statement of justification for the proposed project;

(3)a statement of the purposes and intended uses of the proposed project;

(4)the estimated total cost of the proposed project;

(5)an estimate of the additional future annual operating costs associated with the proposed project;

(6)a statement of the expected impact of the proposed project on t

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(A) To assist the authority and the Joint Bond Review Committee in carrying out their respective responsibilities, any agency or institution requesting or receiving funds from any source for use in the financing of any permanent improvement project, as a minimum, shall provide to the authority, in such form and at such times as the authority, after review by the committee, may prescribe: (1) a complete description of the proposed project; (2) a statement of justification for the proposed project; (3) a statement of the purposes and intended uses of the proposed project; (4) the estimated total cost of the proposed project; (5) an estimate of the additional future annual operating costs associated with the proposed project; (6) a statement of the expected impact of the proposed project on the five-year operating plan of the agency or institution proposing the project; (7) a proposed plan of funding for the project, specifically identifying funds proposed from sources other than capital improvement bond authorizations; and (8) the specification of the priority of each project among those proposed. (B) The authority shall forward a copy of each project proposal and justification statement and supporting documentation received together with the authority's recommendations on such projects to the committee for its review and action. (C) No provision in this section or elsewhere in this chapter, shall be construed to limit in any manner the prerogatives of the committee and the General Assembly with regard to recommending or authorizing permanent improvement projects and the funding such projects may require.

Legislative History

HISTORY: 1980 Act No. 518, SECTION 11; 2014 Act No. 121 (S.22), Pt VII, SECTION 18.B, eff July 1, 2015; 2024 Act No. 214 (S.314), SECTION 1, eff July 2, 2024. Effect of Amendment 2014 Act No. 121, SECTION 18.B, added the subsection designators; in subsection (A), substituted "authority" for "State Budget and Control Board (the Board)", deleted "(the Committee)" following "Joint Bond Review Committee", twice substituted "authority" for "Board", and set out the subparagraphs (1) through (8), which formerly were not set out as separate paragraphs; in subsection (B) and the following undesignated paragraph, substituted "authority" for "Board" throughout; and made other nonsubstantive changes. 2024 Act No. 214, SECTION 1, in (A)(7), substituted "funding for" for "financing"; and rewrote (B).