State Institution of Higher Education Enterprise Act

A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING ARTICLE 7 TO CHAPTER 11, TITLE 11 SO AS TO PROVIDE INCREASED FUNDING TO PUBLIC INSTITUTIONS OF HIGHER LEARNING IN THE SAME PERCENTAGE AS GENERAL FUND REVENUES INCREASE, TO PROVIDE ADDITIONAL FUNDING FOR CERTAIN SCHOLARSHIPS AND TO PROVIDE ELIGIBILITY CRITERIA FOR THE FUNDING, AND TO ESTABLISH THE HIGHER EDUCATION FACILITIES REPAIR AND RENOVATION FUND TO PROVIDE INFRASTRUCTURE FUNDING FOR INSTITUTIONS OF HIGHER LEARNING; BY ADDING SECTIONS 59-149-170, 59-149-180, 59-104-50, AND 59-104-60 SO AS TO NORMALIZE THE TEN-POINT GRADING SCALE FOR PURPOSES OF ELIGIBILITY FOR CERTAIN SCHOLARSHIPS; TO AMEND SECTION 59-150-370, RELATING TO THE HOPE SCHOLARSHIP, SO AS TO NORMALIZE THE TEN-POINT GRADING SCALE FOR PURPOSES OF ELIGIBILITY; BY ADDING SECTIONS 59-142-80 AND 59-143-40 SO AS TO APPROPRIATE ADDITIONAL FUNDING FOR THE NEED-BASED GRANT PROGRAM AND TO PROVIDE ELIGIBILITY CRITERIA FOR FUTURE FUNDING; TO AMEND SECTION 59-143-30, RELATING TO HIGHER EDUCATION SCHOLARSHIPS AND GRANTS, SO AS TO APPROPRIATE ADDITIONAL FUNDING FOR GRANT PROGRAMS; TO AMEND SECTIONS 59-104-25 AND 59-149-15, RELATING TO CERTAIN STEM STIPENDS, SO AS TO PROVIDE THAT THE STIPEND IS AVAILABLE WHEN THE STUDENT BECOMES A JUNIOR INSTEAD OF A SOPHOMORE; BY ADDING SECTION 59-142-90 SO AS TO REQUIRE THE APPROPRIATION OF CERTAIN ADDITIONAL FUNDING FOR NEED-BASED GRANTS AND NEED-BASED TUITION GRANTS; TO REPEAL SECTIONS 59-104-20(D) AND 59-149-150 BOTH RELATING TO CERTAIN SCHOLARSHIP PROVISIONS; TO AMEND SECTION 59-150-370, RELATING TO SCHOLARSHIPS, SO AS TO MAKE A CONFORMING CHANGE; BY ADDING SECTION 59-103-175 SO AS TO REQUIRE THE COMMISSION ON HIGHER EDUCATION SUBMIT POLICY STATEMENTS AND RULES AS REGULATIONS; TO REQUIRE THE PROCUREMENT OF A STUDENT LOAN DEFAULT AVERSION AND FINANCIAL LITERACY PROGRAM; BY ADDING CHAPTER 157 TO TITLE 59 SO AS TO CREATE THE "STATE INSTITUTION OF HIGHER EDUCATION ENTERPRISE ACT"; AND TO AMEND SECTION 11-35-710, AS AMENDED, RELATING TO THE PROCUREMENT CODE, SO AS TO EXEMPT AN ENTERPRISE DIVISION.