2017 South Carolina Code of Laws
Title 59 - Education
CHAPTER 1 - GENERAL PROVISIONS
Section 59-1-480. Lapsed funds; priority of use.
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.
HISTORY: 2002 Act No. 356, Section 1, Part I.B.
Code Commissioner's Note
This section, originally codified as Section 59-1-455, was renumbered as Section 59-1-480 at the direction of the Code Commissioner to avoid conflict with Section 59-1-455 added by 1991 Act No. 55, Section 1.
