The South Carolina Research Authority shall submit an annual report to the Governor and the General Assembly containing at a minimum the following:
(1) the total amount of monies placed in the fund in a fiscal year and the total amount of monies granted from the fund in a fiscal year;
(2) a list of the applicants that received grants and the applicants' stated objectives;
(3) an audit of the activities conducted by the applicants;
(4) the monies used by the authority for administration and management, which may not exceed two hundred thousand dollars annually, and the percentage of each grant used for administration and management;
(5) the progress achieved by the authority and the fund in creating a sustainable foundation upon which a hydrogen economy may develop across the State; and
(6) the certified gross profits earned by grant recipients provided pursuant to Section 11-46-60.
HISTORY: 2007 Act No. 83, Section 2.