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TO AMEND SECTION 59-149-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LIFE SCHOLARSHIPS, SO AS TO REVISE THE INSTITUTIONS WHICH ARE QUALIFIED TO RECEIVE LIFE SCHOLARSHIP FUNDS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. A. Section 59-149-10(B)(2) of the 1976 Code is amended to read:
"(2) a public or independent bachelor's level institution chartered before 1962 whose major campus and headquarters are located within South Carolina; or an independent bachelor's level institution which has attained 501(c)(3) tax status and is accredited by the Southern Association of Colleges and Secondary Schools or the New England Association of Colleges and Schools; or a public or independent two-year institution which has attained 501(c)(3) tax status. Institutions whose sole purpose is religious or theological training, or the granting of professional degrees do not meet the definition of 'public or independent institution' for purposes of this chapter."
B. The amendments to Section 59-149-10(B)(2) as contained in this section apply only to institutions that meet the criteria contained therein as of the effective date of this subsection.
SECTION 2. This act takes effect upon approval by the Governor.
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