South Carolina Code 57-11-210. Definitions
(1) "Fiscal year" means the fiscal year upon which the affairs of the State of South Carolina are then being conducted. As of the date of this enactment it is that which begins on July first and ends on June thirtieth of the succeeding calendar year.
Terms Used In South Carolina Code 57-11-210
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2) "Fuel oil user fee" means the user fee levied pursuant to Chapter 28 of Title 12.
(3) "Gasoline user fee" means the per gallon user fee imposed upon gasoline, components thereof or substitutes therefor, pursuant to the provisions of Chapter 28 of Title 12.
(4) "Commission" means that agency of government now composed in accordance with the provisions of Article 3 of Chapter 1 of Title 57, and any other commission or agency of government hereafter exercising the powers granted to the commission pursuant to the provisions of Chapter 1 of Title 57.
(5) "Highway transportation purposes" means the construction of roads and bridges now or hereafter made a part of the state highway system, or the reconstruction and improvement of highways and bridges now or hereafter made a part of the state highway system and to provide state funds to obtain matching federal highway funds.
(6) "Motor vehicle license tax" means the annual tax imposed upon a corporation, an individual, and an owner of a motor and other vehicle pursuant to the provisions of Title 56 and Title 57.
(7) "Road tax" means the road tax imposed on motor carriers pursuant to Chapter 11 of Title 56.
(8) "Sources of revenue" means the gasoline user fee, the fuel oil user fee, the road tax, and the motor vehicle license tax.
(9) "Authority" means the State Fiscal Accountability Authority of South Carolina.
(10) "State highway bonds" means all general obligation bonds of the State of South Carolina designated as state highway bonds, which are now outstanding and which may hereafter be issued pursuant to the authorizations of this article.