S 187

Abstract

A BILL TO AMEND SECTION 8-13-1312, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CAMPAIGN BANK ACCOUNTS, SO AS TO DEFINE RELEVANT TERMS APPLICABLE TO THIS ACT, TO PROVIDE THAT ALL CONTRIBUTIONS RECEIVED BY CANDIDATES SHALL BE DEPOSITED INTO AN INTEREST ON CAMPAIGN ACCOUNT KNOWN AS AN "IOCA", TO PROVIDE THAT IOCAS SHALL BENEFIT THE STATE ETHICS COMMISSION, TO PROVIDE THAT IOCAS MUST BE ESTABLISHED WITH ELIGIBLE INSTITUTIONS THAT VOLUNTARILY CHOOSE TO PARTICIPATE, TO PROVIDE FOR THE RATE OF INTEREST OR DIVIDENDS PAYABLE ON AN IOCA, TO PROVIDE THAT ONE PERCENT OF ALL CONTRIBUTIONS DEPOSITED INTO AN IOCA MUST BE REMITTED TO BENEFIT THE COMMISSION, AND TO PROVIDE THAT THE FUNDS REMITTED TO THE COMMISSION PURSUANT TO THIS ACT MUST BE USED BY THE COMMISSION TO CREATE A POSITION OR POSITIONS WITHIN ITS EMPLOY TO CHECK AND CONFIRM THE COMPLETENESS OF CANDIDATE FILINGS; TO AMEND SECTION 8-13-320, RELATING TO THE DUTIES AND POWERS OF THE STATE ETHICS COMMISSION, SO AS TO PROVIDE THAT THOSE DUTIES AND RESPONSIBILITIES INCLUDE RECEIVING, ADMINISTERING, INVESTING, DISBURSING, AND SEPARATELY ACCOUNTING FOR FUNDS REMITTED TO IT PURSUANT TO SECTION 8-13-1312; AND TO AMEND SECTION 8-13-340, RELATING TO THE ANNUAL REPORT OF THE STATE ETHICS COMMISSION, SO AS TO PROVIDE THAT THE STATE ETHICS COMMISSION ALSO SHALL INCLUDE IN ITS ANNUAL REPORT TO THE GENERAL ASSEMBLY AND TO THE GOVERNOR THE AMOUNT OF FUNDS IT HAS RECEIVED FROM IOCAS.