A joint Resolution

 

TO AUTHORIZE THE EXPENDITURE OF FEDERAL FUNDS DISBURSED TO THE STATE IN THE AMERICAN RESCUE PLAN ACT OF 2021, AND TO SPECIFY THE MANNER IN WHICH THE FUNDS MAY BE EXPENDED.

 

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

 

SECTION 1.  The source of revenue authorized for expenditure in this section is the State Fiscal Recovery Funds disbursed to the State pursuant to the federal "American Rescue Plan Act of 2021", Public Law No. 117-2, (hereinafter referred to as "ARPA").

 

SECTION 2.  From funds disbursed to the State in the ARPA, there is appropriated up to $586,633,226 to the Rural Infrastructure Authority ARPA Water and Sewer Infrastructure Account for the purposes described in Act 244 of 2022. Only existing grant applications, as of January 1, 2023, may be considered in determining disbursements. Of the $586,633,226 appropriated, $100,000,000 shall be available for projects designated by the Secretary of Commerce as being significant to economic development and may be funded at up to twenty million dollars per project with no local match requirement. If any disbursement to any recipient, or subrecipient, resulting from an authorization contained herein is disallowed by federal law, regulation, or order, then the recipient or subrecipient shall promptly return the disbursed funds to the disbursing entity.

 

SECTION 3.  The expenditure authorizations contained in this act are supplemental to the expenditure authorizations for receiving entities as contained in Act 239 of 2022, the General Appropriations Act for Fiscal Year 2022-23, and future expenditure authorizations enacted by the General Assembly through December 31, 2026.

 

SECTION 4.  Earnings and interest on accounts created pursuant to this act must be credited to the account and any balance at the end of the fiscal year carries forward to the account in the succeeding fiscal year for the same purpose.

 

SECTION 5.  This joint resolution takes effect upon approval by the Governor.

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