South Carolina § 59-1-480 - Lapsed funds; priority of use.
Full text of South Carolina South Carolina Code of Laws § 59-1-480 — Lapsed funds; priority of use., with citation guidance and answers to common questions.
§ 59-1-480. Lapsed funds; priority of use.
Notwithstanding any other provision of law, lapsed funds, including unexpended appropriated funds or revenue in excess of appropriations in the EIA Fund, in a prior or current fiscal year must first be used to offset an official EIA revenue shortfall declared by the Board of Economic Advisors and then to fund any school district's appropriation deficit for EIA Teacher Salary Supplement, Teacher Salary Supplement Fringe, or National Board Certification Incentive. The remaining lapsed funds must be used in accordance with Section 59-21-420. If an official EIA revenue shortfall is declared, funds appropriated for EIA teacher salaries and related fringe benefits in the EIA portion of the annual general appropriations act are exempt from any reduction required to offset the shortfall.
HISTORY: 2002 Act No. 356, SECTION 1, Part I.B.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 59-1-480
What does South Carolina Code of Laws § 59-1-480 cover?
Section 59-1-480 ("Lapsed funds; priority of use.") 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 § 59-1-480?
A common citation format is "South Carolina Code of Laws § 59-1-480" (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 § 59-1-480 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.