In order to make the maximum use of Volume Cap allocations, any bond enabling act which specifies particular projects or users must be construed to provide that any recovery zone property as defined in Section 1400U-3(b) of the Code will be deemed to qualify as a project. Accordingly, any person engaged in a qualified business as defined in Section 1400U-3(b)(2) of the Code will be permitted as beneficiary of any such bonds.
HISTORY: 2010 Act No. 290, Section 15.A, eff June 23, 2010.
Structure South Carolina Code of Laws
Chapter 18 - South Carolina Volume Cap Allocation Act
Section 11-18-20. Definitions.
Section 11-18-30. Volume Cap allocation.
Section 11-18-40. Local Government waiver of Volume Cap allocation; board management of allocation.
Section 11-18-60. Local Government suballocation of Volume Cap.
Section 11-18-70. Purpose of chapter; board policies and procedures.