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S. 637
STATUS INFORMATION
General Bill
Sponsors: Senator Ritchie
Document Path: l:\council\bills\nbd\11476ac07.doc
Introduced in the Senate on April 3, 2007
Currently residing in the Senate Committee on Education
Summary: Environmental Scholars Endowment Fund
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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4/3/2007 Senate Introduced and read first time SJ-12
4/3/2007 Senate Referred to Committee on Education SJ-12
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND ARTICLE 9, CHAPTER 111, TITLE 59, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ENVIRONMENTAL SCHOLARS ENDOWMENT FUND, SO AS TO INCLUDE FINES COLLECTED PURSUANT TO THE TIDELANDS AND WETLANDS ACT IN FINANCING THE ENVIRONMENTAL SCHOLARS FUND, TO PROVIDE THAT QUALIFYING INSTITUTIONS MAY ESTABLISH ENVIRONMENTAL SCHOLARS ENDOWMENTS AT THEIR RESPECTIVE INSTITUTIONS WHEN SIX HUNDRED THOUSAND DOLLARS, RATHER THAN FOUR HUNDRED THOUSAND DOLLARS, IS AMASSED IN THE STATE ENDOWMENT FUND, TO PROVIDE THAT SUCH INSTITUTIONAL ENDOWMENTS ARE TO PROVIDE LOANS, RATHER THAN SCHOLARSHIPS OR FELLOWSHIPS, TO PROVIDE THAT SUCH LOANS MAY ONLY BE AWARDED TO GRADUATE STUDENTS IN ENVIRONMENTAL STUDIES AND TO REQUIRE LOAN RECIPIENTS TO AGREE TO WORK IN THIS STATE FOR ONE YEAR FOR EACH YEAR THE LOAN IS RECEIVED, TO DECREASE FROM ONE HUNDRED THOUSAND DOLLARS TO FIFTY THOUSAND DOLLARS THE AMOUNT OF PRIVATE FUNDS THAT AN INSTITUTION MUST RAISE TO DRAW DOWN FUNDS FROM THE STATE FUND FOR THE INSTITUTION'S ENDOWMENT, TO DELETE PROVISIONS AUTHORIZING THE STATE BOARD FOR COMPREHENSIVE AND TECHNICAL EDUCATION TO DRAW DOWN FUNDS FOR AN ENDOWMENT FOR STUDENTS IN A TECHNICAL EDUCATION ENVIRONMENTAL STUDIES PROGRAM, AND TO EXTEND THE STATE ENVIRONMENTAL SCHOLARS ENDOWMENT FUND TO 2010.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 9, Chapter 111, Title 59 of the 1976 Code is amended to read:
Section 59-111-710. For purposes of this article,:
(1) 'Qualifying institution' or 'institution' means a state-supported post-secondary educational institution offering a master or doctoral degree program in environmental studies or environmental sciences on July 1, 1994.
(2) 'Environmental studies' means a master or doctoral degree program in environmental engineering, coastal marine and wetland studies, natural resource economies, environmental management, and environmental policy.
(3) 'Endowment' means an environmental scholars endowment established by a qualifying institution pursuant to Section 59-111-730.
Section 59-111-720. (A) There is created the Environmental Scholars Endowment Fund, known as "the fund", which must be separate and distinct from the general fund of the State. The fund must be financed through the collection and deposit of fines and penalty assessments levied by the South Carolina Department of Health and Environmental Control pursuant to the State Safe Drinking Water Act, Sections 44-55-10, et seq., the South Carolina Hazardous Waste Management Act, Sections 44-56-10, et seq., low-level radioactive waste fines pursuant to Sections 48-48-10, et seq., and the South Carolina Pollution Control Act, Sections 48-1-10, et seq., and the Tidelands and Wetlands Act, Section 48-39-10, et seq. However, the portion of the Pollution Control Act fines a fine or penalty collected under any statute which provides explicitly for distribution of the fine or penalty, other than to the general fund, including, but not limited to, those penalties distributed to the counties pursuant to Section 48-1-350, must not be placed into the fund.
(B) The collection and deposit of fines and penalties to the fund pursuant to this section shall continue until such time as the fund reaches four six hundred thousand dollars at which time all subsequent fines and penalties must be deposited in the general fund or as otherwise prescribed by law. However, no fines and penalties may be credited to the fund unless and until the Environmental Emergency Fund created pursuant to Section 48-2-330 is fully funded.
Section 59-111-730. (A) After the fund has reached four six hundred thousand dollars, each qualifying institution may request the transfer of one hundred thousand dollars for the sole purpose of being held and administered by the institution as the corpus of a perpetual endowment fund to be known as the 'Environmental Scholars Endowment'. Only an annual amount no greater than the annual interest income earned from the corpus of the endowment is to be expended for the award of scholarships or fellowships loans to students pursuing graduate level degrees in environmental studies or environmental sciences. The corpus of the fund endowment must not be invaded by the institution.
(B) A qualifying institution that establishes an environmental scholars endowment must agree to raise one hundred fifty thousand dollars in private match funds before July 1, 1999 2010. If an institution fails to raise the one hundred fifty thousand dollars in private match funds before July 1, 1999 2010, the corpus of the endowment reverts to the fund. A qualifying institution that established an endowment and raised the required private match funds of one hundred thousand dollars as of July 1, 1999, is not required to raise the fifty thousand dollars in private match funds as set forth in this subsection.
Section 59-111-740. (A) Each qualifying institution shall establish written guidelines for the criteria, application, review, selection process, and amount of awards for scholarships or fellowships loans from an its Environmental Scholars Endowment must be established by each qualifying institution. However, A recipient of a scholarship or fellowship loan must be currently enrolled or accepted for enrollment in a master or doctoral degree program in environmental studies or environmental sciences. Each institution also must shall establish application procedures that ensure equitable minority participation in the selection process. Preference must be given to those applicants who are residents of South Carolina. A recipient of a scholarship or a fellowship must complete a year-long internship in South Carolina arranged by or with the approval of the institution prior to the award of their degree.
(B) The loan must be conditioned on the recipient's written agreement to work in the field of environmental studies in the State of South Carolina following graduation for one year for each year in which a loan was received. If the recipient does not elect to work in this State upon graduation, the entire amount of the loan plus interest must be paid back to the institution. If the recipient does not fully complete the terms of the written agreement, the loan repayment plus interest must be prorated accordingly to reflect partial completion of the agreement. The written agreement must specify such terms and conditions as shall carry out the intent of this section. Sums received in repayment of a loan must be placed back into the institution's endowment and added to the income derived from the corpus for the purpose of awarding new loans to eligible students.
Section 59-111-750. After the fund has reached four hundred thousand dollars, the State Board for Comprehensive and Technical Education, known as "the board", also may request the transfer of one hundred thousand dollars from the fund to the board to establish and administer an Environmental Scholars Endowment for the award of scholarships to eligible students currently enrolled or accepted for enrollment in a technical education degree program in environmental studies or environmental sciences. This article applies to the board in its administration of the endowment except that private match funds are not required. The board shall establish written guidelines for the application, review, and selection process which must be furnished to eligible students through the technical education colleges.
Section 59-111-760. Each qualifying institution and the board annually shall prepare an independent accounting of all of the funds in its Environmental Scholars Endowment, including a statement of the value of the corpus of the fund, the income derived from the corpus, and the specific uses to which the income has been applied. The reports must be kept on file at the institution and at the board and must be available for inspection upon request.
Section 59-111-770. Any funds remaining in the fund July 1, 1999 2010, or any funds which have reverted to the fund pursuant to Section 59-111-730(B), shall must be distributed equally among the board if it each qualifying institution that has established an endowment and each qualifying institution that has established an endowment and raised the required match funds. Funds distributed pursuant to this section must be used only for the purpose of increasing the corpus of the endowment. Upon final disbursement of all funds in accordance with this section, the fund shall must be dissolved."
SECTION 2. This act takes effect July 1, 2007.
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