Willcox, Buyck & Williams, PA Blog

Friday, February 19, 2016

Corporate Law Policy Updates in South Carolina

With the new year well underway, it is always important to take a look at the new and pending policies set to impact South Carolina business owners and those involved in the corporate world. On Tuesday, January 12th, the South Carolina General Assembly convened for the first time in 2016, and the year promises to bring about a number of important changes.

For those in the healthcare field, the Assembly has begun its review of an important bill targeted at those facing severe illness, known as the Right to Try Act (Senate Bill 929). Under this act, patients seeking alternative courses of treatment – particularly those who are facing a terminal illness – may be able to access drugs that have not yet met full approval from the FDA, but have passed the first phase of approval.

Meanwhile, a subcommittee continues to discuss the Certificate of Need bill, which would place limits on the amount of equipment facilities can purchase with the use of state and federal funding – which would require a detailed statement explaining why the equipment is necessary for the successful operation of the business or facility.

Other interesting legislation up for debate in the House includes various amendments to the state’s Educational Tax Credit For Exceptional Needs Children, as well as various other taxation amendments. Also, the Senate heard testimony from various individuals involved in the construction industry, particularly those who feel greater oversight of independent contractors is necessary to ensure proper work environments for sub-contractors.

As well, the South Carolina Governor’s Office unveiled its 2015-2016 budget, which includes nearly $1.3 billion in unallocated funds. According to Governor Haley, this extra money will likely be used to enhance South Carolina’s infrastructure, as well as a $300 million cash push toward the various education initiatives at work around the state.

If you have questions about legal policy in South Carolina, particularly with regard to corporate and real estate matters, please contact a preeminent South Carolina law firm today!


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