/ SECTION ___. A. Article 1, Chapter 43, Title 11 of the 1976 Code is amended by adding:
"Section 11-43-165. Each fiscal year, the South Carolina Department of Transportation (DOT) shall transfer fifty million dollars from non-tax sources to the South Carolina Transportation Infrastructure Bank (SIB). The DOT may transfer the total amount in one lump sum or it may transfer the amount quarterly in four equal installments. The general fund revenue appropriated to DOT for 'Highway Engineering Permanent Improvements' in the annual general appropriations act is exempt from any across-the-board reductions. The transferred funds must be used by SIB solely to finance bridge replacement, rehabilitation projects, and expansion and improvements to existing mainline interstates. The DOT shall submit a list of bridge and road projects to the SIB for its consideration. Transferred funds may not be used for projects approved by the SIB before July 1, 2013."
B. This SECTION takes effect July 1, 2013. /
Renumber sections to conform.
Amend title to conform.