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. Following the receipt of funds, organizations are required to provide quarterly itemized spending updates and a comprehensive accounting of expenditures, including receipts for purchases and services. 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 unspent funds, including reasons for the remaining balance and plans for future expenditure. If the state agency finds the justification for unexpended funds insufficient, it may demand their return. This legislation applies to all state agency contributions to organizations, regardless of the funding source, thereby ensuring transparency and accountability in the use of state resources.

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