South Carolina General Assembly
115th Session, 2003-2004

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Bill 4427


Indicates Matter Stricken
Indicates New Matter


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO CLOSE THE TEACHER AND EMPLOYEE RETENTION INCENTIVE (TERI) PROGRAM TO NEW PARTICIPANTS EFFECTIVE JULY 1, 2004, AND TO REPEAL EFFECTIVE JULY 1, 2009, ARTICLE 17, CHAPTER 1, TITLE 9, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ESTABLISHMENT OF THE TERI PROGRAM.

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

SECTION    1.    Notwithstanding the provisions of Section 9-1-2210(A) of the 1976 Code, the Teacher and Employee Retention Incentive (TERI) Program established pursuant to Section 9-1-2210 is closed to new participants effective July 1, 2004.

SECTION    2.    Article 17, Chapter 1, Title 9 of the 1976 Code is repealed effective July 1, 2009, for all purposes except the distribution of program accounts existing on that date.

SECTION    3.    This act takes effect upon approval by the Governor.

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