South Carolina Code of Regulations
Chapter 61 - DEPARTMENT OF HEALTH AND ENVIRONMENTAL CONTROL
Subchapter 61-33 - DRYCLEANING FACILITY RESTORATION TRUST FUND
Subpart C - Financial Responsibility
Section 61-33.C.10 - Remitting Payments to the Fund
Universal Citation: SC Code Regs 61-33.C.10
Current through Register Vol. 48, No. 9, September 27, 2024
(A) After the Department spends Fund money on a site, the Responsible Applicant shall pay into the Fund any unspent balance of his/her deductible up to the amount spent by the Department.
(B) The Responsible Applicant shall remit the full balance of the expended funds or shall enter into a payment plan with the Department within thirty days after notification by the Department that the funds have been used.
(C) If the Responsible Applicant chooses to enter into a payment plan, the Responsible Applicant shall make payments to the Fund on a quarterly basis.
(1) No interest
shall be assessed for any outstanding balance paid in full within one year
after notification by the Department.
(2) For payments extending beyond one year,
interest shall be collected as a fixed-rate, simple interest on the remaining
balance spent by the Department.
(3) The Department will set the annual
interest rate at one and one-half times greater than the Federal Prime Interest
rate in effect on the first day of July of that year. All payment plans entered
into during the fiscal year July 1 through June 30 shall be set at that that
rate.
Disclaimer: These regulations may not be the most recent version. South Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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