There is created a body corporate and politic to be known as the South Carolina Research Authority or as the SCRA.

HISTORY: 1983 Act No. 50 Section 2, eff April 29, 1983; 1984 Act No. 309, Section 1, eff March 23, 1984; 1996 Act No. 308, Section 1, eff upon approval (became law without the Governor's signature on May 7, 1996); 2002 Act No. 172, Section 1, eff February 8, 2002; 2005 Act No. 133, Section 1, eff June 7, 2005.

Editor's Note

1983 Act No. 50, Sections 1 and 3, effective April 29, 1983, provides as follows:

"Section 1. The General Assembly recognizes that the future economic viability of South Carolina can best be assured by building strong industries of advanced technology, that in order to develop better employment opportunities and improve the standard of living in South Carolina we must aggressively pursue and encourage research and development organizations and high technology manufacturers to locate in our State, that this State must take steps to insure we develop our human resources by providing opportunities for our residents; we, therefore, establish the South Carolina Research Authority as a public corporation to succeed the nonprofit, private entity known as the South Carolina Research Authority."

"Section 3. The Budget and Control Board is authorized to transfer fee simple interest in real properties of the State. The transfer of property shall occur coincidently with the transfer of assets and liabilities from the nonprofit private entity known as the South Carolina Research Authority."

Effect of Amendment

The 1984 amendment substituted "standard metropolitan area of Columbia" for "City of Columbia".

The 1996 amendment inserted "or as the SCRA" after "South Carolina Research Authority (authority)".

The 2002 amendment deleted the last sentence concerning the principal office location and made a nonsubstantive change.

The 2005 amendment reenacted this section with no apparent change.