South Carolina § 11-60-10 Definitions.

South Carolina Statutes

§ 11-60-10 — Definitions.

South Carolina § 11-60-10

Title 11PUBLIC FINANCE

Ch. 60PAY-FOR-SUCCESS PERFORMANCE ACCOUNTABILITY

This text of South Carolina § 11-60-10 (Definitions.) 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. § 11-60-10 (2026).

Text

For the purposes of this chapter:

(1)"Authority" means the State Fiscal Accountability Authority.

(2)"Independent evaluator" means a qualified person or entity selected by a state agency, and with whom a state agency contracts, to provide independent evaluation services to determine if performance measures have been achieved within a stated period under a pay-for-success contract. An independent evaluator must be identified prior to submitting a pay-for-success proposal to the authority, as required by Section 11-60-30.

(3)(a) "Pay-for-success contract" means a written agreement between a state agency and a private-sector organization under which:

(i)the private-sector organization provides a program or service, including a related project management service;

(ii)the parties set forth

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For the purposes of this chapter: (1) "Authority" means the State Fiscal Accountability Authority. (2) "Independent evaluator" means a qualified person or entity selected by a state agency, and with whom a state agency contracts, to provide independent evaluation services to determine if performance measures have been achieved within a stated period under a pay-for-success contract. An independent evaluator must be identified prior to submitting a pay-for-success proposal to the authority, as required by Section 11-60-30. (3)(a) "Pay-for-success contract" means a written agreement between a state agency and a private-sector organization under which: (i) the private-sector organization provides a program or service, including a related project management service; (ii) the parties set forth performance measures for a given population over a certain period of time that the private-sector organization intends to achieve; (iii) the parties agree to an amount that the private-sector organization earns if the performance measures are achieved within the stated time period and agree that the success payment is due to the private-sector organization only if it achieves these performance measures within the stated period; and (iv) any other provisions are included as required by Section 11-60-40. (b) "Pay-for-success contract" does not mean a guaranteed energy, water, or wastewater savings contract or a contract subject to Article 9, Chapter 35, Title 11. (4) "Performance measures" means specific, measurable, time-based goals, the completion of which predicates payment under a pay-for-success contract. (5) "Private-sector organization" means a firm or nonprofit organization that contracts with a state agency in a pay-for-success contract. (6) "Success payment" means the money paid when a pay-for-success contract performance measure is met.

Legislative History

HISTORY: 2021 Act No. 52 (S.461), SECTION 2, eff May 17, 2021. Editor's Note 2021 Act No. 52, SECTION 1, provides as follows: "SECTION 1. This act must be known and may be cited as the 'South Carolina Pay-for-Success Performance Accountability Act'."