South Carolina Code 11-9-1110. Board of Economic Advisors; membership and appointment; reporting; staffing
(a) one member, appointed by, and serving at the pleasure of the Governor, who shall serve as chairman and shall receive annual compensation of ten thousand dollars;
Terms Used In South Carolina Code 11-9-1110
- Ex officio: Literally, by virtue of one's office.
- Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
(b) one member appointed by, and serving at the pleasure of the Chairman of the Senate Finance Committee, who shall receive annual compensation of eight thousand dollars;
(c) one member appointed by, and serving at the pleasure of the Chairman of the Ways and Means Committee of the House of Representatives, who shall receive annual compensation of eight thousand dollars;
(d) the Director of the Department of Revenue, who shall serve ex officio, with no voting rights.
(2) The Revenue and Fiscal Affairs Office shall provide for the staffing and administrative support of the board.
(B) The chairman of the board shall report directly to the Governor, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee to establish policy governing economic trend analysis. The office shall provide for the staffing and administrative support of the board from funds appropriated by the General Assembly.
(C) The executive director shall assist the Governor, chairman of the board, Chairman of the Senate Finance Committee, and Chairman of the Ways and Means Committee of the House of Representatives in providing an effective system for compiling and maintaining current and reliable economic data. The office, upon approval by the board, may establish an advisory board to assist in carrying out its duties and responsibilities. All state agencies, departments, institutions, and divisions shall provide the information and data the advisory board requires. The board is considered a public body for purposes of the Freedom of Information Act, pursuant to § 30-4-20(a).
(D) The Department of Commerce shall provide to the office by November tenth the public document prepared pursuant to § 12-10-100(C) itemizing each revitalization agreement concluded during the previous calendar year. The Department of Revenue shall provide to the office by November tenth a report of the amount of each tax credit claimed in the previous tax year pursuant to Title 12. The report must list individually the amount claimed and the number of filings for each tax credit. The Department of Revenue also must provide to the office by November tenth data files containing data from all state individual and corporate income tax filings from the previous tax year, excluding confidential identifying information.