A public body as defined by Section 30-4-20(a), or a person or entity employed by or authorized to act for or on behalf of a public body, that undertakes to attract business or industry to invest or locate in South Carolina by offering incentives that require the expenditure of public funds or the transfer of anything of value or that reduce the rate or alter the method of taxation of the business or industry or that otherwise impact the offeror fiscally, must disclose, upon request, the fiscal impact of the offer on the public body and a governmental entity affected by the offer after:
(a) the offered incentive or expenditure is accepted, and
(b) the project has been publicly announced or any incentive agreement has been finalized, whichever occurs later.
The fiscal impact disclosure must include a cost-benefit analysis that compares the anticipated public cost of the commitments with the anticipated public benefits. Notwithstanding the requirements of this section, information that is otherwise exempt from disclosure under Section 30-4-40(a)(1), (a)(5)(c), and (a)(9) remains exempt from disclosure.
HISTORY: 2003 Act No. 86, Section 3.
Structure South Carolina Code of Laws
Chapter 4 - Freedom Of Information Act
Section 30-4-15. Findings and purpose.
Section 30-4-40. Matters exempt from disclosure.
Section 30-4-60. Meetings of public bodies shall be open.
Section 30-4-65. Cabinet meetings subject to chapter provisions; cabinet defined.
Section 30-4-80. Notice of meetings of public bodies.
Section 30-4-90. Minutes of meetings of public bodies.
Section 30-4-100. Injunctive relief; costs and attorney's fees.
Section 30-4-110. Hearings regarding disclosure; appropriate relief; civil fine for violation.
Section 30-4-160. Sale of Social Security number or driver's license photograph or signature.