(A) There is created the Eldercare Trust Fund of South Carolina to be administered by the South Carolina Department on Aging.

(B) All monies received from the voluntary contribution system established in § 12-7-2419 or any other contribution, gift, or bequest must be placed on deposit with the State Treasurer in an interest-bearing account.

Terms Used In South Carolina Code 43-21-160

  • Bequest: Property gifted by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.

(C) These funds must be used to award grants to public and private nonprofit agencies and organizations to establish and administer innovative programs and services that assist older persons to remain in their homes and communities with maximum independence and dignity.

(D) The Eldercare Trust Fund shall supplement and augment programs and services provided by or through state agencies but may not take the place of these programs and services.

(E) The South Carolina Department on Aging shall carry out all activities necessary to administer the fund.

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