As used in this chapter: (1) "Facilities and administration costs" means depreciation and use allowances, interest on debt associated with buildings, equipment and capital improvements, operation and maintenance expenses, library expenses, general administration expenses, departmental administration, sponsored projects administration, and student administration and services. (2) "General obligation debt" means any indebtedness of the State which must be secured in whole or in part by a pledge of the full faith, credit and taxing power of the State, including, but not limited to, bonds, notes, and other evidences of indebtedness, and issued pursuant to the provisions of this chapter. (3) "Research Centers of Excellence Review Board" means the board created pursuant to Section 2-75-10. (4) "Research infrastructure project" or " project" means a project that would advance economic development and create a knowledge based economy, thereby increasing job opportunities, or facilitate and increase externally funded research at the research universities, including, but not limited to, land acquisition, acquisition or construction of buildings, equipment, furnishings, site preparation, road and highway improvements, water and sewer infrastructure, and other things necessary or convenient to advance economic development or to facilitate and increase research at the research universities. (5) "Research universities" means Clemson University, The Medical University of South Carolina, and the University of South Carolina—Columbia. (6) "State board" means the governing board of the State Fiscal Accountability Authority. Effect of Amendment 2014 Act No. 121, SECTION 20.L.1, in subsection (6), substituted "governing board of the State Fiscal Accountability Authority" for "South Carolina State Budget and Control Board".
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