South Carolina § 11-60-60 - Status reports; accounting for trust fund revenue separately from general fund revenues; private-sector organization considered a "public body".

§ 11-60-60. Status reports; accounting for trust fund revenue separately from general fund revenues; private-sector organization considered a "public body".

(A) Annually, on or before February first, every state agency that has entered into a pay-for-success contract shall provide a written status report for any outstanding pay-for-success contracts.

(B) The status report shall include progress toward meeting objectives and outcomes; sources of private and other funding supporting the contract, to include whether any matching funds are being used; sources of funds for success payments made into the trust fund; and success payments made to date.

(C) Status reports pursuant to subsection (A) must be provided to the authority and the State Auditor, who shall maintain a central repository for these reports and for pay-for-success contracts and who shall publish such documents on its website. Any organization receiving funding pursuant to this chapter is subject to audit by the Office of the State Auditor.

(D) In status reports to the authority pursuant to subsection (A), the Board of Economic Advisors shall account for trust fund revenue separately from general fund revenues.

(E) Any private-sector organization receiving funding pursuant to this chapter is considered a "public body" under Section 30-4-20(a) and is subject to records production requirements of the Freedom of Information Act, Section 30-4-10, et seq., with regard to any records related to a pay-for-success contract.

HISTORY: 2021 Act No. 52 (S.461), SECTION 2, eff May 17, 2021.

Editor's Note

2021 Act No. 52, SECTION 1, provides as follows:

"SECTION 1. This act must be known and may be cited as the 'South Carolina Pay-for-Success Performance Accountability Act'."