S.C. Code Ann. § 59-1-480
This is the official text of S.C. Code Ann. § 59-1-480, part of South Carolina’s Code Ann — part of the compiled statutory law of South Carolina, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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SECTION 59-1-480. Lapsed funds; priority of use.
Official statutory 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.
Status: in_force · Read it on the official government site
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