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Indicates Matter Stricken
Indicates New Matter
S. 1302
STATUS INFORMATION
General Bill
Sponsors: Senator Cromer
Document Path: l:\council\bills\nbd\11364dg22.docx
Introduced in the Senate on April 28, 2022
Currently residing in the Senate Committee on Finance
Summary: Recovery of indirect costs
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 4/28/2022 Senate Introduced and read first time (Senate Journal-page 5) 4/28/2022 Senate Referred to Committee on Finance (Senate Journal-page 5)
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VERSIONS OF THIS BILL
TO AMEND SECTION 2-65-70, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE RECOVERY OF INDIRECT COSTS FOR PURPOSES OF OVERSIGHT OF OTHER FUNDS, SO AS TO PROVIDE THAT CERTAIN PROVISIONS DO NOT APPLY TO CERTAIN INSTITUTIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 2-65-70 of the 1976 Code is amended by adding an appropriately lettered subsection to read:
"( ) For a public institution of higher learning, the requirements of subsection (A) do not apply to the first five hundred thousand dollars of a nonresearch grant when the grant directly supports the mission of another state agency, institution, or unit of government. Each public institution of higher learning shall provide a report to the Chairman of the House Ways and Means Committee, the Chairman of the Senate Finance Committee, and the Chairman of the State Fiscal Accountability Authority by September thirtieth of each year detailing the utilization of this subsection in the previous fiscal year."
SECTION 2. This act takes effect upon approval by the Governor.
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April 29, 2022 at 8:55 AM