Reference is to Printer's Date 3/8/12-H.
Amend the bill, as and if amended, by deleting Section 12-6-1146(L) and inserting:
/(L)(1) Every nonprofit scholarship funding organization
providing grants under this section shall:
(a) cause an outside auditing firm each year to conduct a comprehensive financial audit of its operations in conformity with generally accepted accounting principles and shall furnish same within thirty days of its completion and acceptance to the Secretary of State and Department of Revenue, which must be made available by them on their website for public review;
(b) create and publish on its web site by-laws for the organization;
(c) require all employees to undergo a background investigation by both a state and national criminal history background investigation as a part of the required investigation. Any person required to undergo a background investigation may be required to supply fingerprints, along with other personal identifying information, for submission to the Federal Bureau of Investigation (FBI) through the State Law enforcement Division (SLED). The organization is authorized to use SLED and FBI criminal history records for screening of persons considered for employment. The organization may incur the cost of the screening or may require the applicant to pay for the screening;
(d) issue a unique student identification number, provided by the South Carolina Department of Education, to each student receiving a scholarship which must be furnished by the student and used for enrollment purposes by the eligible school when enrolling a student;
(e) provide annually to the Education Oversight Committee a list of students, using the unique student identification number, awarded scholarships, the amount received, and the schools they attend;
(f) be subject to the South Carolina Freedom of Information Act found at Section 30-4-10 et seq;
(g) develop and maintain a current web site which shall include a transaction register that includes a complete record of all funds expended over one hundred dollars, from whatever source, for whatever purpose. The register must be prominently posted on the internet website and made available for public viewing and downloading. The register must include for each expenditure:
(i) the transaction amount;
(ii) the name of the payee; and
(iii) a statement providing a detailed description of the expenditure .
The register must not include an entry for salary, wages, or other compensation paid to individual employees. The register must not include any information that can be used to identify an individual employee. The register must be accompanied by a complete explanation of any codes or acronyms used to identify a payee or an expenditure. The register must be searchable and updated at least once a month.
The scholarship granting organization must also maintain on its internet website a copy of each monthly statement for all of the credit cards maintained by the entity, including credit cards issued to its officers or employees for official use. The credit card number on each statement must be redacted prior to posting on the internet website. Each credit card statement must be posted not later than the thirtieth day after the first date that any portion of the balance due as shown on the statement is paid. Additionally the web site shall provide a listing of its donors.
(2) At the conclusion of the third year of granting scholarships and every three years thereafter, the Legislative Audit Council shall conduct a management performance audit of those scholarship funding organizations approved to operate in the State. Upon conclusion of the audit, the report shall be issued to the members of the General Assembly and the Education Oversight Committee which shall post on a prominent location on it.
(3) Every independent school accepting grants for eligible students under this section shall cause to be conducted a compliance audit by an outside entity or auditing firm examining its compliance with the provisions of this section and shall furnish the same within thirty days of its completion and acceptance to the Secretary of State and Department of Revenue which must be made available by them on their website for public review. /
Renumber sections to conform.
Amend title to conform.