Hint: To avoid truncation when printing, be sure your software is set to print in Landscape Orientation. Adjust font size as needed.

Indicates Matter Stricken
Indicates New Matter

19                       SECTION 25
20
21     TO AMEND SECTION 42-7-10, AS AMENDED, OF THE 1976 CODE, RELATING TO THE STATE ACCIDENT FUND
22     UNDER THE SOUTH CAROLINA WORKERS' COMPENSATION LAW, SO AS TO PROVIDE FOR REMITTING TO THE
23     GENERAL FUND CERTAIN INTEREST EARNED OR ACCRUING ON MONIES IN THE STATE ACCIDENT FUND AND
24     FOR DISTRIBUTING TO LOCAL AGENCIES CERTAIN OTHER INTEREST, AND TO REQUIRE THE STATE ACCIDENT
25     FUND AND THE STATE AUDITOR TO DETERMINE THE AMOUNTS TO BE DISTRIBUTED TO LOCAL AGENCIES AND
26     TO DEVISE A PLAN TO IMPLEMENT THE DISTRIBUTION OF THESE MONIES ON A PRO-RATA BASIS LOCALLY.
27
28     A.  Section 42-7-10 of the 1976 Code, as last amended by Section 987 of Act 181 of 1993, is further amended by adding:
29
30           "(C)   Notwithstanding subsections (A) or (B) of this section or any other provision of law: (1) interest earned or accruing on monies
31     in the State Accident Fund attributable to agencies of the State of South Carolina must be remitted annually to the State Treasurer for
32     deposit by him in the State's general fund;
33           (2)  interest earned or accruing on monies in the State Accident Fund attributable to local agencies, including, but not limited to,
34     municipalities and counties and agencies of municipalities and counties, must be distributed on an annual basis to these local agencies on
35     a pro-rata basis;



        PART II                                    PAGE 554

 1           (3)  the State Accident Fund and the State Auditor shall jointly determine the amounts to be distributed under item (2) of this subsection
 2     (C) and shall jointly devise a plan to implement the distribution of these monies."
 3
 4     B.  This section takes effect July 1, 1998.
 5