The "Earmark Responsibility, Accountability, Integrity, and Transparency Act" aims to enhance accountability for organizations receiving state funds in South Carolina. The bill mandates that before a state agency contributes funds to an organization, the organization must submit a detailed report outlining how the funds will be utilized and the public goals intended to be achieved. Once the funds are received, organizations are required to provide quarterly itemized spending updates, including receipts for purchases and an accounting of funds allocated to subgrantees and affiliated nonprofits. If these requirements are not met, the organization must repay the full amount received, plus interest.

Additionally, the bill stipulates that starting two fiscal years after the contribution, organizations must report on any unexpended funds, including reasons for the remaining balance and plans for future expenditure. If the state agency director finds the justification for unspent funds insufficient, they may demand the return of those funds. This legislation applies to all state agency contributions to organizations, regardless of the funding source, and will take effect upon the Governor's approval.

Statutes affected:
01/30/2025: 11-1-130
Latest Version: 11-1-130