Bill 2684

                    Current Status

Bill Number:               2684
Ratification Number:       83
Act Number:                52
Introducing Body:          House
Subject:                        Marion DuPont Scott Memorial
                           Act

(A52, R83, H2684)

AN ACT TO AMEND ACT 313 OF 1984, RELATING TO THE MARION DUPONT SCOTT MEMORIAL ACT, SO AS TO DELETE THE REQUIREMENT THAT THE CAROLINA CUP RACING ASSOCIATION, INCORPORATED, ACCOUNT QUARTERLY TO THE STATE TREASURER, THE STATE AUDITOR, AND THE STATE BUDGET AND CONTROL BOARD ON THE EXPENDITURE OF FUNDS FOR THE OPERATION OF A TRAINING FACILITY.

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

Carolina Cup Racing Association

SECTION 1. Item (C) of Section 2 of Act 313 of 1984 is amended to read:

"(C) Carolina Cup Racing Association, Incorporated, a South Carolina nonprofit corporation (Association) is the authority for the day-to-day management of the facility and shall continue to operate the facilities located on the property in the same manner as it has been operated formerly. The Association shall annually receive the income from the Springdale Fund provided in Section 4 of this act and shall account to the State Treasurer, the State Auditor, and the State Budget and Control Board on the expenditure of funds for the operation of the training facility. The income from the training facility must be accounted for, together with an annual audit by an independent certified public accounting firm, and the audit submitted to the same officials no later than ninety days after the end of the Association's fiscal year as established by tax election."

Time effective

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