(A) The fund must be used for research which:
(1) has a direct, positive impact on economic development, education, health, or welfare in this State;
(2) has an existing base in faculty expertise, resources, and facilities;
(3) serves to improve the quality of undergraduate and graduate education for South Carolina citizens in accordance with the institutions' stated missions as given in the commission's master plan and as developed by the institution and approved by the commission as provided in Section 59-103-45(5).
(B) The fund must not be used for capital construction projects.
HISTORY: 1988 Act No. 629, Section 1; 1996 Act No. 359, Section 10.