Oil overcharge funds must be deposited by the State Treasurer in interest-bearing accounts of the State, with interest earned to be earmarked for the same purposes as the oil overcharge monies. The administering entity shall ensure that funds are drawn down and disbursed in a manner that ensures the maximum interest accruing to the State Treasurer's oil overcharge funds account.
HISTORY: 1988 Act No. 680, Section 5; 2005 Act No. 164, Section 12.
Structure South Carolina Code of Laws
Chapter 39 - Joint Legislative Committee On Energy
Section 11-39-10. Committee to review energy policy.
Section 11-39-20. Allocation of funding.
Section 11-39-30. Oversight responsibility.
Section 11-39-40. Evaluation of entity receiving financial gain.
Section 11-39-50. Deposit in interest-bearing account; disbursement.