South Carolina Code of Regulations Chapter 68 - SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY
Here’s a clear summary of South Carolina Code of Regulations, Chapter 68—managed by the South Carolina Jobs–Economic Development Authority (JEDA)—current through March 28, 2025 (regulations.justia.com).
🏢 Chapter 68 – Structure & Status
⚖️ Statutory Authority
Chapter 68 is authorized under 1976 Code § 41‑43‑90 (1983 Supp.) (scstatehouse.gov).
📘 Sections
§ 68‑10 – Loan Eligibility Requirements
JEDA may fund economic development bonds or related programs for South Carolina businesses located in state and which create or maintain jobs (law.cornell.edu).
§ 68‑15 to § 68‑65 – All other sections have been repealed, including rules on the use of loan proceeds, application requirements, fees, distressed area designation, bond issues, and export loans (law.cornell.edu).
§ 68‑30 – Costs and Fees
Governs JEDA’s fee structure for issuing and managing bond programs. The current schedule, originally adopted in 2009, was formally codified in § 68‑30 during a 2022 regulatory update (scstatehouse.gov).
📌 Summary Table
| Section | Topic | Status |
|---|---|---|
| § 68‑10 | Loan Eligibility | Active – bonds for SC job growth |
| § 68‑15–65 | Loan Provisions, Fees, etc. | All repealed |
| § 68‑30 | Fee Schedule | Active – 2022 update on fees |
⚠️ Regulatory Update Alert
In September 2020, JEDA proposed repealing all sections §§ 68‑10 through 68‑65, labeling them “obsolete” or inconsistent with current state/federal law. A hearing was tentative if requested, but the full repeal was not fully implemented; § 68‑10 and § 68‑30 remain active (scstatehouse.gov).
As of March 28, 2025, the current code maintains only §§ 68‑10 and 68‑30 in effect (regulations.justia.com).
✅ Practical Guidance
Borrowers / Businesses: Qualify only if located in SC and create or sustain jobs (§ 68‑10).
Financial Counsellors / Bond Counsel: Must rely on active statutory sections (§ 68‑10, § 68‑30). Note that historical rules on loan terms, proceeds use, etc., have been repealed.
JEDA Administrators: Refer to the updated fee schedule in § 68‑30 (effective 2022), with details available via JEDA’s website and finance meeting records (scstatehouse.gov).
📚 Need More Information?
Loan Eligibility (§ 68‑10): I can provide full text or interpret details if you're applying or advising.
Fee Details (§ 68‑30): I can outline the exact fee structure or direct you to JEDA's published schedule.
Historical/Redeployed Provisions: If you need info on repealed sections (e.g., application requirements, bond issue structure), I can dig into archived versions.
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