Discretionary Subfund definition

Discretionary Subfund means the subaccount or subaccounts with the State Treasurer created pursuant to this chapter where certain funds in the South Carolina Opioid Recovery Fund are distributed by the South Carolina Opioid Recovery Fund Board in its discretion to qualified applicants for approved abatement strategies.

Discretionary Subfund means that portion of the South Carolina Opioid Recovery Fund from which the Board will allocate amounts on a discretionary basis as set forth in Exhibit A hereto.

Examples of Discretionary Subfund in a sentence

• The board may, but is not required to, provide its grounds for denying a request for funds from the Discretionary Subfund.

• The board may establish criteria for evaluating competing requests for payments from the Discretionary Subfund.

• Unlike the Guaranteed Political Subdivision Subfund, requests for funding from the Discretionary Subfund need not be made by a Political Subdivision or on its behalf.

• The Board may seek amendments and modifications to this Agreement and to applicable laws and court orders as needed to carry out its responsibilities, but the Board may not seek to modify the allocations provided for in this Agreement, including the amounts paid into the Guaranteed Political Subdivision Subfund and the Discretionary Subfund.

• Political Subdivisions are permitted and encouraged to seek funds from the Discretionary Subfund both for additional projects and to supplement projects funded by the Guaranteed Political Subdivision Subfund.

• The Board may receive up to one percent (1%) of the South Carolina Opioid Recovery Fund for costs and expenses associated with their administration of the Guaranteed Political Subdivision Subfund and the Discretionary Subfund.

• By way of examples only, requests for funding from the Discretionary Subfund could be made by state agencies, medical treatment providers, mental health treatment providers, educational providers, legal services providers, researchers, nonprofits, and any other person or entity for an Approved Abatement Strategy, subject to the Board’s eligibility requirements.

• The Board will use the Approved Abatement Strategies listed in Exhibit C for considering applications for funding from the Discretionary Subfund.

• For Opioid Settlement Funds paid by a Pharmaceutical Supply Chain Participant in 2030 or thereafter, fifty percent (50%) to the Guaranteed Political Subdivision Subfund and fifty percent (50%) to the Discretionary Subfund.

• The Board shall establish one or more accounts for the management of the South Carolina Opioid Recovery Fund, the Guaranteed Political Subdivision Subfund, and the Discretionary Subfund, including for administrative purposes.