1. (A) All state revenues and state monies dedicated by statute to the operation of the department must be deposited into either the "State Highway Fund" or the "State Non-Federal Aid Highway Fund". Both funds must be held and managed by the State Treasurer separate and distinct from the general fund, except as to monies utilized by the State Treasurer for the payment of principal or interest on state highway bonds as provided by law. Interest income from the State Highway Fund must be deposited to the credit of the State Highway Fund. Interest income from the Non-Federal Aid Highway Fund must be deposited to the credit of the Non-Federal Aid Highway Fund. The commission may commit up to the maximum annual debt service provided in Article X, Section 13 of the South Carolina Constitution into a special fund to be used for the sole purpose of paying the principal and interest, as it comes due, on bonds issued for the construction or maintenance of state highways, or both. This special account will be designated as the State Highway Construction Debt Service Fund.
2. (B) Beginning July 1, 1993, the department must process all payment for goods and services, including right-of-way acquisitions through the office of the Comptroller General.
3. (C) Beginning January 1, 1994, the department shall process the payment for all personnel services through the office of the Comptroller General.
4. (D) For all capital improvement and permanent improvement projects beginning on or after July 1, 1994, the department shall enter detailed project numbers on all transactions submitted to the Comptroller General.
5. (E) The Comptroller General may continue to make deductions from the compensation of employees for the payment of premiums for life, hospital, and other types of insurance plans that are in force on July 1, 1992.
6. (F) Beginning July 1, 1993, the department is not considered a lump sum agency.

HISTORY: 1962 Code Section 33-282; 1952 Code Section 33-282; 1951 (47) 457; 1972 (57) 3088; 1992 Act No. 501, Part II Section 41B; 1995 Act No. 145, Part II, Section 49A; 1996 Act No. 461, Section 6; 2005 Act No. 176, Section 14, eff June 14, 2005.

Effect of Amendment

The 2005 amendment, in subsection (A), in the first sentence substituted "into either the 'State Highway Fund' or the 'State Non-Federal Aid Highway Fund' " for "into one fund to be known as the 'state highway fund, and all federal revenues and federal monies must be deposited into the 'federal highway fund' " and added the fourth sentence relating to interest income from the Non-Federal Aid Highway Fund and made conforming changes throughout.