Current through Register Vol. 48, No. 34, August 23, 2024
Section 62-305 - Allocation of Program FundsA. Funds made available for higher education grants and scholarships under Chapter 143 of Title 59 of the 1976 Code, as amended under Act 458, South Carolina Children First: Resources for Scholarship and Tuition Act of 1996, shall be included in the annual appropriation to the Commission on Higher Education. Fifty percent of the appropriation shall be designated for the Palmetto Fellows Scholarship Program and the remaining fifty percent shall be for the Need-based Grants Program. However, in instances where the equal division of the appropriated funds between the Palmetto Fellows Scholarship and Need-based Grants Programs exceeds the capacity to make awards in either program, the Commission on Higher Education has the authority to re-allocate the remaining funds between the two programs.B. Under the South Carolina Education Lottery Act, a designated amount shall be allocated for Palmetto Fellows Scholarships and shall be included in the annual appropriation to the Commission on Higher Education.C. After expending funds appropriated for Palmetto Fellows Scholarships from all other sources, there is automatically appropriated from the general fund of the State whatever amount is necessary to provide Palmetto Fellows Scholarships to all students meeting the requirements of Section 59-104-20.D. The Palmetto Fellows Scholarship Enhancement is contingent upon the availability of funds appropriated by the General Assembly each academic year.Added by State Register Volume 22, Issue No. 6, Part 3, eff June 26, 1998; Amended by State Register Volume 23, Issue No. 2, eff February 26, 1999; State Register Volume 26, Issue No. 2, eff February 22, 2002; State Register Volume 27, Issue No. 6, Part 2, eff June 27, 2003; State Register Volume 29, Issue No. 6, eff June 24, 2005; State Register Volume 30, Issue No. 4, eff April 28, 2006; State Register Volume 33, Issue No. 6, eff June 26, 2009; State Register Volume 35, Issue No. 6, eff June 24, 2011; State Register Volume 43, Issue No. 05, eff. 5/24/2019; State Register Volume 45, Issue No. 05, eff. 5/28/2021; State Register Volume 46, Issue No. 05, eff. 5/27/2022.