South Carolina General Assembly
104th Session, 1981-1982

Bill 926

                    Current Status

Bill Number:               926
Ratification Number:       454
Act Number                 482
Introducing Body:          Senate
Subject:                   Assure the receipt of the three percent
                           rebate for funds withheld for the Medicaid
                           Program
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A482, R454, S926)

A JOINT RESOLUTION TO ASSURE THE RECEIPT OF THE THREE PERCENT REBATE FOR FUNDS WITHHELD FOR THE MEDICAID PROGRAM TO AUTHORIZE SHORT TERM INTEREST BEARING NOTES TO CERTAIN STATE DEPARTMENTS BY THE STATE TREASURER, TO AUTHORIZE REPAYMENT OF THE LOAN FROM 1982-83 APPROPRIATIONS AND TO AUTHORIZE THE PROMULGATION OF REGULATIONS TO IMPLEMENT THE PROVISIONS OF THIS RESOLUTION.

Whereas, federal laws now provide for the temporary withholding of three persent of federal financial participation for the Medicaid program; and

Whereas, the amount withheld will not be released to state agencies until after the end of the federal fiscal year; and

Whereas, the delay in receiving federal funds will cause severe cash flow problems for the Department of Social Services, the Department of Mental Health and the Department of Mental Retardation; and

Whereas, The temporary loss of these federal funds could create a situation causing the loss of fifteen million dollars of medical services for indigent people of South Carolina. Now therefore,

Be it enacted by the General Assembly of the State of South Carolina:

Expenditures not to exceed certain amount

Section 1. (A) The Department of Social Services shall assure that for the period of October 1, 1981, through September 30, 1982, the federal financial participation drawn for the Medicaid expenditures shall not exceed the $217,548,983.00 break-even point or the authorized amounts in the general appropriations act, whichever is less, in order to receive the three percent rebate for the funds withheld.

(B) The State Treasurer shall determine any temporary excess in any debt service account and may lend such monies, on a short term interest bearing note, to the Department of Social Services, the Department of Mental Health and the Department of Mental Retardation, in an amount not to exceed those Medicaid funds which are temporarily retained by the federal government.

(C) The Treasurer shall determine an appropriate interest rate which shall be charged on the entire amount advanced to each of the agencies.

(D) As soon as practicable after July 1, 1982, any of the agencies receiving advances as provided herein shall pay from its 1982-83 appropriation the principal and interest due on the outstanding loan.

(E) The Budget and Control Board shall have the authority to promulgate regualtions necessary to implement the provisions of this resolution.

Time effective

Section 2. This act shall take effect upon the approval by the Governor.