Each qualifying college or university will provide donors with an incentive in the form of matching state gifts on disbursements from earnings on certain endowments, donations, or gifts if these monies are used for the purposes specified in Section 59-118-50.
S.C. Code Ann. § 59-118-40
Matching state gifts on qualified disbursements
Known as the South Carolina Academic Endowment Incentive Act
The act spans §§ 59–59 (10 sections).
1997 Act No. 155, Part II, SECTION 21A.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.