South Carolina § 1-11-500 - Calculation and certification of state ceiling.
Full text of South Carolina South Carolina Code of Laws § 1-11-500 — Calculation and certification of state ceiling., with citation guidance and answers to common questions.
§ 1-11-500. Calculation and certification of state ceiling.
The state ceiling on the issuance of private activity bonds as defined in Section 146 of the Internal Revenue Code of 1986 established in the act must be certified annually by the Secretary of the State Fiscal Accountability Authority (the state authority) based upon the provisions of the act. The secretary of the state authority shall make this certification as soon as practicable after the estimates of the population of the State of South Carolina to be used in the calculation are published by the United States Bureau of the Census but in no event later than February first of each calendar year.
HISTORY: 1987 Act No. 117, SECTION 1; 2022 Act No. 202 (H.5075), SECTION 2, eff June 5, 2022.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, SECTION 5(D)(1), effective July 1, 2015.
Editor's Note
2022 Act No. 202, SECTION 6, provides as follows:
"SECTION 6. The provisions of this act are effective for allocations of state ceiling beginning January 1, 2022, and thereafter. For the first year of implementation, the state authority may adopt such special procedures as may be necessary to effect the requirements of this act."
Effect of Amendment
2022 Act No. 202, SECTION 2, in the first sentence, deleted "(the Code)" following "Code of 1986" and substituted "Secretary of the State Fiscal Accountability Authority (the state authority)" for "State Fiscal Accountability Authority secretary", and in the second sentence, substituted "secretary of the state authority" for "board secretary".
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 1-11-500
What does South Carolina Code of Laws § 1-11-500 cover?
Section 1-11-500 ("Calculation and certification of state ceiling.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 1-11-500?
A common citation format is "South Carolina Code of Laws § 1-11-500" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 1-11-500 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.