South Carolina Disclosure Regimes

State Year of Disclosure Law Specific Subsidy Program Affected by Law
(*Means Update to Earlier Law)		 Disclosure Law State Statute Excerpt Subsidies in Sample? (Y/N) Internal Disclosure? (Y/N) External Disclosure? (Y/N)
South Carolina 1983 General law: Economic Development Fund Act Act No. 145, Sec. 27 S.C. Code Ann. § 41-43-260 The authority must be audited annually by the State Auditor or, upon his approval, may execute contracts with an independent certified public accounting firm. The authority must make an annual report to the State Fiscal Accountability Authority, Revenue and Fiscal Affairs Office, and the Executive Budget Office, and the General Assembly on its programs and operations. The report must include information regarding the size of the businesses that have received assistance based on the number of employees employed and the amount of gross revenues generated during the preceding year. The report also must include the names of businesses that have received assistance and a good faith estimate of the number of jobs retained or created as a result of the authority’s assistance.

Any information submitted to or compiled by the authority in connection with the identity, background, finances, marketing plans, trade secrets, or any other commercially sensitive information of persons, firms, associations, partnerships, agencies, corporations, or other entities, is confidential, except to the extent that the person or entity consents to disclosure.		 N N Y
South Carolina 1995 Enterprise Zones Act No. 25, Sec. 1 S.C. Code Ann. § 12-10-100 By March first of each year, the council shall prepare a public document that itemizes each revitalization agreement concluded during the prior calendar year. The report shall list each revitalization agreement, the results of each cost/benefits analysis, and receipts and expenditures of application fees. This document must be forwarded to the State Budget and Control Board, Senate Finance Committee, and House Ways and Means Committee. This document may not contain any proprietary or confidential information that is otherwise exempt under Chapter 4 of Title 30, the Freedom of Information Act, and nothing in this section must be construed to require the release of such exempt information. N Y N
South Carolina 2000 Water and Wastewater Infrastructure Fund Act No. 387 S.C. Code Ann. § 13-1-45 "(M) Following the close of each state fiscal year, the department shall submit an annual report of its activities pursuant to this section for the preceding year to the Governor and to the General Assembly.
(N) No funds under this section may be provided, promised, or allocated to any projects authorized hereunder before November 15, 2000.
(O) The department shall submit a quarterly report to the State Budget and Control Board of all projects obligated for funding pursuant to this section."		 N N Y
South Carolina 2003 Upon Request Incentive Reporting (Weak) Act No. 86, Sec. 3 S.C. Code Ann. § 30-4-55 "A public body as defined by Section 30-4-20(a), or a person or entity employed by or authorized to act for or on behalf of a public body, that undertakes to attract business or industry to invest or locate in South Carolina by offering incentives that require the expenditure of public funds or the transfer of anything of value or that reduce the rate or alter the method of taxation of the business or industry or that otherwise impact the offeror fiscally, must disclose, upon request, the fiscal impact of the offer on the public body and a governmental entity affected by the offer after:
(a) the offered incentive or expenditure is accepted, and
(b) the project has been publicly announced or any incentive agreement has been finalized, whichever occurs later.
The fiscal impact disclosure must include a cost-benefit analysis that compares the anticipated public cost of the commitments with the anticipated public benefits. Notwithstanding the requirements of this section, information that is otherwise exempt from disclosure under Section 30-4-40(a)(1), (a)(5)(c), and (a)(9) remains exempt from disclosure."		 N Y N
South Carolina 2003 Confidentiality Provisions 2003 Act No. 34 S.C. Code Ann. § 30-4-40 Matters exempt from disclosure: "(8) Memoranda, correspondence, and working papers in the possession of individual members of the General Assembly or their immediate staffs; however, nothing herein may be construed as limiting or restricting public access to source documents or records, factual data or summaries of factual data, papers, minutes, or reports otherwise considered to be public information under the provisions of this chapter and not specifically exempted by any other provisions of this chapter.
(9) Memoranda, correspondence, documents, and working papers relative to efforts or activities of a public body and of a person or entity employed by or authorized to act for or on behalf of a public body to attract business or industry to invest within South Carolina; however, an incentive agreement made with an industry or business: (1) requiring the expenditure of public funds or the transfer of anything of value, (2) reducing the rate or altering the method of taxation of the business or industry, or (3) otherwise impacting the offeror fiscally, is not exempt from disclosure after:
(a) the offer to attract an industry or business to invest or locate in the offeror’s jurisdiction is accepted by the industry or business to whom the offer was made; and
(b) the public announcement of the project or finalization of any incentive agreement, whichever occurs later.		 N
South Carolina 2005 Film Tax Incentives Act No. 56, Sec. 1 S.C. Code Ann. § 12-62-60 "The department shall report annually to the chairman of the Senate Finance Committee and the chairman of the House Ways and Means Committee on the use of all funds pursuant to this section. The report is a public record pursuant to the Freedom of Information Act, Chapter 4 of Title 30, and must be posted annually on the commission’s web site by January first." Y Y Y
South Carolina 2005 Rural Infrastructure Fund Act No. 161, Sec. 34 S.C. Code Ann. § 12-10-85 "The council shall submit a report to the Governor and General Assembly by March fifteenth covering activities for the prior calendar year." Y N Y
South Carolina 2006 South Carolina Research Authority Act No. 319, Sec. 2 S.C. Code Ann. § 13-17-88 There is established the “Industry Partnership Fund” at the SCRA or at an SCRA-designated affiliate, or both, for the acceptance of contributions for funding the programs. Financing methods pursuant to this section and Section 13-17-87 include grants, loans, investments, and other incentives. The SCRA may, but is not required to, provide additional funding for the programs. The SCRA shall submit an annual report to the General Assembly on the programs established pursuant to this section. N N Y
South Carolina 2010 General Law: Incentive Reporting* Act No. 290, Sec. 29 S.C. Code Ann. § 12-28-2910 Augments earlier 1993 reporting requirements required by the Coordinating Council: "From the amount set aside pursuant to subsection (A), the council is authorized to expend funds which were not obligated or committed as of July first of the current fiscal year only as necessary for the location or expansion of an industry or business facility in South Carolina. Eligible expenditures include water and sewer projects, road or rail construction and improvement projects, land acquisition, fiber-optic cable, relocation of new employees, pollution-control equipment, environmental testing and related due diligence reports, acquiring and improving real property, and site preparation. Site preparation is defined as surveying, environmental and geotechnical study and mitigation, clearing, filling, and grading. Relocation expenses constitute eligible expenditures only for those employees to whom the company is paying gross wages at least two times the lower of the per capita income for either the State or the county in which the project is located. The Coordinating Council annually shall prepare a detailed report for submission to the General Assembly by March fifteenth which itemizes the expenditures from the fund for the preceding calendar year. The report shall include an identification of the following information:
(a) company name or confidential project number;
(b) location of project;
(c) amount of grant award; and
(d) scope of grant award."		 Y N Y
South Carolina 2010 Corporate License Fee Abatement Act No. 187, Sec. 2 S.C. Code Ann. § 12-20-105 "By March first of each year, the Department of Revenue shall issue a report to the Chairman of the Senate Finance Committee, the Chairman of the House Ways and Means Committee, and the Secretary of the Department of Commerce outlining the history of the credit allowed pursuant to this section. The report shall include the amount of credit allowed pursuant to this section and the types of infrastructure provided to eligible projects." N N Y
South Carolina 2014 Retraining Credits Act No. 279, HB 3644 S.C. Code Ann. § 12-10-95 "By November fifteenth of each year, the State Board for Technical and Comprehensive Education shall submit a statewide aggregated report detailing the utilization of the retraining credit pursuant to this section, as well as the board’s activities in regard to oversight, to the Governor, the Chairman of the House Ways and Means Committee, the Chairman of the Senate Finance Committee, the Coordinating Council for Economic Development, and the Department of Revenue. Also, the board shall make the report available in a conspicuous place on the website maintained by the board." Y Y Y
South Carolina 2020 Resilience Revolving Fund Act No. 163, Sec. 1(A) S.C. Code Ann. § 48-62-330 "(B) To carry out these functions, the authority shall:
(1) operate a program in order to implement the purposes of this article;
(2) receive final approval from the State Fiscal Accountability Authority for fund disbursements prior to the issuance of a loan;
(3) develop additional guidelines and prescribe procedures, consistent with the criteria and purposes of this article;Pro
(4) submit an annual report to the Governor, Lieutenant Governor, State Treasurer, and General Assembly that:
(a) accounts for fund receipts and disbursements;
(b) briefly describes applications submitted to the fund and, in greater detail, describes grants and loans that were approved or funded during the current year and the public benefits, including increased flood retention resulting from such grants and loans;
(c) describes recipients of fund loans and grant monies; and
(d) sets forth a list and description of all loans and grants approved and all acquisitions of homes and lands obtained since the fund’s inception; and
(5) have an annual audit of the fund conducted by outside independent certified public accountants and submitted to the Governor, Lieutenant Governor, State Treasurer, and General Assembly. The accounting of fund receipts and expenditures required above must be part of this annual audit."4		 N N Y