Download This Bill in Microsoft Word format
Current Status Bill Number:View additional legislative information at the LPITS web site.4555 Ratification Number:463 Act Number:410 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20000203 Primary Sponsor:J. Smith All Sponsors:J. Smith and Walker Drafted Document Number:l:\council\bills\nbd\11668ac00.doc Companion Bill Number:1088 Date Bill Passed both Bodies:20000622 Date of Last Amendment:20000622 Governor's Action:S Date of Governor's Action:20001018 Subject:First Steps to School Readiness Board, additional member; Technical, Education; Colleges, Tuition Prepayment Program History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20001023 Act No. A410 ------ 20001018 Signed by Governor ------ 20000622 Ratified R463 House 20000622 Concurred in Senate amendment, enrolled for ratification Senate 20000622 House amendments amended, returned to House with amendment House 20000503 Senate amendments amended, returned to Senate with amendment Senate 20000426 Amended, read third time, returned to House with amendment Senate 20000425 Read second time Senate 20000420 Introduced, read first time, placed on Calendar without reference House 20000419 Read third time, sent to Senate House 20000418 Read second time House 20000412 Committee report: Favorable 21 HEPW House 20000203 Introduced, read first time, 21 HEPW referred to Committee Versions of This Bill Revised on April 12, 2000 - Word format Revised on April 20, 2000 - Word format Revised on April 26, 2000 - Word format Revised on May 3, 2000 - Word format Revised on June 22, 2000 - Word format
(A410, R463, H4555)
AN ACT TO AMEND SECTION 20-7-9710, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE SOUTH CAROLINA FIRST STEPS TO SCHOOL READINESS BOARD OF TRUSTEES, SO AS TO ADD THE CHIEF EXECUTIVE OFFICER OF THE STATE BOARD FOR TECHNICAL AND COMPREHENSIVE EDUCATION AS AN EX OFFICIO NONVOTING MEMBER OF THE BOARD; TO AMEND SECTION 59-4-20, RELATING TO DEFINITIONS IN THE SOUTH CAROLINA TUITION PREPAYMENT PROGRAM, SO AS TO REORDER THESE DEFINITIONS ALPHABETICALLY, TO DELETE THE DEFINITION OF THE STATE BUDGET AND CONTROL BOARD AND TO DEFINE STATE TREASURER; TO AMEND SECTIONS 59-4-30, 59-4-40, 59-4-60, AND 59-4-70 ALL RELATING TO THE SOUTH CAROLINA TUITION PREPAYMENT PROGRAM AND ITS ADMINISTRATION, SO AS TO TRANSFER THE PROGRAM FROM THE BUDGET AND CONTROL BOARD TO THE OFFICE OF THE STATE TREASURER AND TO AMEND REFERENCES TO CONFORM; AND TO TRANSFER ALL FUNDS, APPROPRIATIONS, PERSONAL PROPERTY, AND PERSONNEL OF THE TUITION PREPAYMENT PROGRAM FROM THE BUDGET AND CONTROL BOARD TO THE OFFICE OF THE STATE TREASURER AND TO CARRY OVER POLICIES, PROCEDURES, AND REGULATIONS UNTIL SUCH ARE OTHERWISE REVISED.
Be it enacted by the General Assembly of the State of South Carolina:
First Steps to School Readiness board member added
SECTION 1. Section 20-7-9710(F) of the 1976 Code, as added by Act 99 of 1999, is amended to read:
"(F) The chief executive officer of each of the following shall serve as an ex officio nonvoting member:
(a) Department of Social Services or his designee;
(b) Department of Health and Environmental Control or his designee;
(c) Department of Health and Human Services or his designee;
(d) Department of Mental Health or his designee;
(e) Department of Disabilities and Special Needs or his designee;
(f) Department of Alcohol and Other Drug Abuse Services or his designee;
(g) Department of Transportation or his designee;
(h) Budget and Control Board, Division of Research and Statistics or his designee; and
(i) State Board for Technical and Comprehensive Education."
Tuition Prepayment Program transferred from Budget and Control Board to State Treasurer
SECTION 2. A. Section 59-4-20 of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"Section 59-4-20. As used in this chapter:
(1) 'College or university' means a state-chartered public educational institution of higher learning located in this State.
(2) 'Contributor' means a person who makes or is obligated to make advance payments in accordance with a prepaid tuition contract.
(3) 'Director' means the head of the South Carolina Tuition Prepayment Program.
(4) 'Designated beneficiary' means the individual who is designated as the beneficiary of amounts paid or to be paid to the South Carolina Tuition Prepayment Program or, in the case of a change in beneficiaries as permitted under this chapter, the individual who is the new beneficiary.
(5) 'Fund' means the South Carolina Tuition Prepayment Program Fund.
(6) 'Independent institution of higher education' means an independent eleemosynary junior or senior college in South Carolina whose major campus and headquarters are located within South Carolina and which is accredited by the Southern Association of Colleges and Secondary Schools.
(7) 'Program' means the South Carolina Tuition Prepayment Program.
(8) 'The Tuition Prepayment Contract' means the contract entered into by the Director of the South Carolina Tuition Prepayment Program or his designee on behalf of the program and a contributor pursuant to this chapter for the advance payment by the contributor of undergraduate tuition at a fixed, guaranteed level for a designated beneficiary to attend a public educational institution of higher learning in the State or another educational institution of higher learning as may be provided in this chapter to which the designated beneficiary is admitted.
(9) 'Treasurer' means the South Carolina State Treasurer.
(10) 'Tuition' means the credit-hour charges imposed by a public higher education institution in this State and all mandatory fees required as a condition of enrollment of all students."
B. Section 59-4-30 of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"Section 59-4-30. (A) The South Carolina Tuition Prepayment Program is created as a program within the Office of the State Treasurer. The chief administrative and operating official for the program is the director who must be appointed and supervised by the Treasurer. The director must be a state official or employee.
(B) The Treasurer is responsible for developing and adopting the investment policies, guidelines, and strategies for the fund and determining the costs, termination, and withdrawal options of the prepaid tuition contracts. The Treasurer shall promulgate regulations in accordance with the Administrative Procedures Act which:
(1) provide for the number and types of contract plans to be offered, to include both public and independent colleges and universities;
(2) prescribe the terms and conditions of the prepaid tuition contracts, including the terms and conditions under which funds may be withdrawn or refunds made from the fund;
(3) prescribe the requirements, procedures, and guidelines regarding advanced payment contracts;
(4) provide for the contract contents to include, at a minimum, tuition and credit hour guarantees, beneficiary substitutions, default, withdrawal, refund, termination and penalty information, and contributor payment amounts and conditions;
(5) provide for the receipt of advance payments;
(6) prescribe guidelines governing the program;
(7) provide for the charging and retention of fees for the cost of services and administration of the fund;
(8) prescribe the investment and management policies of the fund; and
(9) prescribe other policies, procedures, and criteria necessary to implement and administer the program.
These regulations must be developed in consultation with the chairmen or their designees of the Senate Finance Committee, the Senate Education Committee, the House Ways and Means Committee, and the House Education and Public Works Committee, and submitted in sufficient time for the General Assembly to begin its approval process by January 15, 1998. It is the intent of the General Assembly to have these regulations in force so that the program may begin to offer contracts by July 1, 1998."
C. Section 59-4-40 of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"Section 59-4-40. The fund is a nonpublic special, revolving fund established and maintained by the State of South Carolina. The fund consists of monies received from contributors, other monies acquired from governmental and private sources, and proceeds from the investments of the fund. The fund may expend funds for the purposes of this chapter only and may not be considered public funds. There must be a separate accounting for each designated beneficiary.
The fund must be invested as directed by the Treasurer. However, earnings in the fund or a portion of the fund may not be used as security for a loan. An attempt to use the fund, a contract, or a portion of either as security for a loan is void. The fund may be invested in a manner authorized by law. The custody and management of the fund is directed by the Treasurer. The earnings from fund investments become a part of the fund and may be expended for the purposes of this chapter only."
D. Section 59-4-60 of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"Section 59-4-60. All of the agencies, departments, and institutions of higher learning of the State must provide reasonable cooperation and assistance to the Treasurer and the director in the implementation of the program under this chapter. Colleges and universities shall make every effort to restrict tuition increases to no more than the annual higher education price index."
E. Section 59-4-70 of the 1976 Code, as added by Act 155 of 1997, is amended to read:
"Section 59-4-70. Upon implementation of the program, the director or his designee shall prepare an annual financial report of the fund and the program. This report must be submitted to the Treasurer on the date and in the format prescribed by the Treasurer. The program and the fund also are subject to audit by the State Auditor or his designee. The director or his designee annually shall evaluate the actuarial soundness of the fund and report this information to the Treasurer."
F. All funds, appropriations, personal property, personnel, and FTE's of the South Carolina Tuition Prepayment Program are transferred from the State Budget and Control Board to the Office of the State Treasurer. All policies, procedures, and regulations prescribed or promulgated by the State Budget and Control Board for this program are deemed to be the policies, procedures, and regulations prescribed or promulgated by the State Treasurer for this program until withdrawn, revised, or amended in the manner provided by law.
G. Notwithstanding the general effective date of this act, this section takes effect July 1, 2000.
Time effective
SECTION 3. This act takes effect upon approval by the Governor.
Ratified the 22nd day of June, 2000.
Approved the 18th day of October, 2000.
This web page was last updated on Wednesday, December 9, 2009 at 9:29 A.M.