South Carolina Code of Laws
Chapter 43 - South Carolina Jobs - Economic Development Fund Act
Section 41-43-20. Definitions.

As used in this chapter unless the context otherwise requires:
(A) "Act" means the South Carolina Jobs - Economic Development Fund Act.
(B) "Authority" means the South Carolina Jobs - Economic Development Authority, which is a state-owned enterprise.
(C) "Administrative funds" means all monies, received by the authority from the general fund of the State or from the exercise of the power of taxation by the State or any of its political subdivisions which are designated specifically to be used for the payment of administrative expenses, and the earnings on the funds.
(D) "Bonds" means any evidence of indebtedness of the authority in any form including, but not limited to, notes, warrants, bonds, or any similar obligation evidenced in written, printed, or electronic means.
(E) "Program funds" means any monies, including, but not limited to, the proceeds from bond sales, the sale or disposition of any assets, or any other source available to the authority, other than administrative funds and the earnings on the funds.
(F) "Banks" means financial organizations organized, chartered, or holding an authorization certificate and subject to supervision by an agency or official of South Carolina or of the United States and authorized to make loans and receive deposits. It includes but is not limited to savings and loan associations and savings banks.
HISTORY: 1983 Act No. 145 Section 3; 1992 Act No. 404, Section 1, eff July 1, 1992.
Effect of Amendment
The 1992 amendment, in item (C) added "which are designated specifically to be used . . . . funds."; and in item (E) added "and the earnings on the funds."

Structure South Carolina Code of Laws

South Carolina Code of Laws

Title 41 - Labor and Employment

Chapter 43 - South Carolina Jobs - Economic Development Fund Act

Section 41-43-10. Citation of chapter.

Section 41-43-20. Definitions.

Section 41-43-30. South Carolina Jobs-Economic Development Authority created; status; governance by Board of Directors; composition of board.

Section 41-43-40. Appointment and qualifications of directors; ex officio members; terms.

Section 41-43-50. Organization of board; disposition of net earnings; state to retain residual interest; retention of unexpended funds for subsequent years.

Section 41-43-60. Meetings of the board; telephonic meetings; quorum; majority vote required for action.

Section 41-43-70. Functions and duties of the authority generally.

Section 41-43-80. Implementation of programs; delegation of authority; responsibility for programs.

Section 41-43-90. Corporate and other powers of the authority.

Section 41-43-100. Industrial development projects.

Section 41-43-110. Issuance of bonds; utilization of proceeds.

Section 41-43-120. Authority bonds to constitute lawful fiduciary investment.

Section 41-43-130. Bonds and income exempt from certain taxes; exemption of documents from transfer and stamp taxes.

Section 41-43-140. Insurance fund; use as security for holders of bonds.

Section 41-43-150. Antidiscrimination in administration of programs; persons and projects eligible for assistance.

Section 41-43-160. Loan programs; authorized purposes; authority's powers as to loans.

Section 41-43-170. Guaranty fund authorized; purposes.

Section 41-43-180. Determination of economically distressed areas; criteria.

Section 41-43-190. Expert programs; purposes; criteria for assistance.

Section 41-43-200. Collection and dissemination of information and data.

Section 41-43-210. Funds for administrative purposes.

Section 41-43-220. Administrative funds not to be obligated except for administrative expenses.

Section 41-43-230. Disposition of property; authority not required to advertise or take bids.

Section 41-43-240. Creation of other corporations.

Section 41-43-250. Protection of confidential information.

Section 41-43-260. Annual audit and report.

Section 41-43-270. Application of Administrative Procedures Act.

Section 41-43-280. Chapter not to affect other provisions as to authority; when authority considered "agency," "state agency", or other form of state institution.

Section 41-43-290. Severability provision.

Section 41-43-300. South Carolina Jobs-Economic Development Authority; implementation of State Small Business Credit Initiative; capital assistance programs and other credit support programs; contracts with Business Development Corporation; designati...