TO MAKE APPROPRIATIONS TO THE OFFICE OF THE GOVERNOR FOR THE PURPOSE OF MAKING FINANCIAL GRANTS TO INDIVIDUALS OR FAMILIES ADVERSELY AFFECTED BY THE CATASTROPHIC WEATHER EVENT OF OCTOBER 2015, PURSUANT TO THE AUTHORIZATION GRANTED BY LAW.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    (A)    The source of revenue appropriated in subsection (B) is from the following sources:

(1)    $86,750,797 from Fiscal Year 2014-2015 Contingency Reserve Fund; and

(2)    $239,798,000 from Fiscal Year 2015-2016 unobligated general fund revenue as certified by the Board of Economic Advisors.

(B)    No later than three days after the effective date of this act, the State Treasurer shall disburse:

(1)    D05- Governor's Office -

Executive Control of the State                    $326,548,797.

The funds appropriated in this subsection only may be used by the Governor to make financial grants to individuals or families adversely affected by the catastrophic weather event of October 2015, pursuant to the authorization granted to the Governor by Section 25-1-440 of the 1976 Code. Given the immediate need and the imminent peril to public health and safety, any regulation filed in furtherance of this appropriation is deemed an emergency regulation, and the regulation must remain in effect until June 30, 2017. Unexpended funds appropriated pursuant to this subsection may be carried forward for the same purpose, until June 30, 2017, at which time the funds lapse, unless definite commitments have been made, with the approval of the State Fiscal Accountability Authority, toward the accomplishment of the purposes for which the appropriation was made.

SECTION    2.    This act takes effect upon approval by the Governor.