Amend the bill, as and if amended, Part IB, Section 19, SOUTH CAROLINA STATE UNIVERSITY, page 410, after line 22, by adding an appropriately numbered new proviso to read:
/ 19.___ (SCSU - Blue Ribbon Advisory Committee) (A) The General Assembly finds that:
(1) Historically black colleges and universities serve as important and vital institutions for the education of students. These institutions of higher learning are essential to producing college graduates, professionals, uplifting students, and inspiring others to continue in their traditions;
(2) South Carolina State University was founded in 1896 as the state's sole public college for black youth and has played a key role in the education of African-Americans in the state and nation; and
(3) It is vital for this State that South Carolina State University maintain its legacy of excellence in education, and continue to produce generations of scholars and leaders in business, military service, government, athletics, education, medicine, science, engineering technology, and more.
(B)(1) There is established the South Carolina State Blue Ribbon Advisory Committee. The committee shall be composed of James F. Barker, former President of Clemson University; Harris Pastides, President of the University of South Carolina; Dr. Luther F. Carter, President of Francis Marion University; Judge Alex Sanders, former President of the College of Charleston; and Chief Justice Ernest A. Finney, former President of South Carolina State University.
(2) The President of South Carolina State University and the university's board of trustees, in consultation with the advisory committee, shall develop a budgetary plan to reduce expenditures and stabilize the university, including, but not limited to, the recruitment and retention of students. Upon approval of the plan by the board and the advisory committee, the university is authorized to implement the provisions of the budgetary plan as set forth in this subsection. Upon implementation, the budgetary plan must prevent the university from running another other funds operating deficit. In developing the budgetary plan, all operating and other expenditures made across all aspects of the university must be considered, including, but not limited to, administration, academics, auxiliary operations, public service activities, and athletics.
(3)(a) Upon certification by the advisory committee that funds for implementation of the budgetary plan are required, then the university must forward the plan to the Joint Bond Review Committee. Within fifteen days of approval by the Joint Bond Review Committee, the Budget and Control Board, in consultation with the Comptroller General, shall identify accounts from which the State Treasurer must transfer to the university on the schedule required by the budgetary plan an amount or amounts required by the budgetary plan. If any portion of the budgetary plan approved by the committee includes a recommendation of a loan or a series of loans, the loan must be at an interest rate established by the State Treasurer pursuant to Section 11-9-250. Loan repayment, if required by the budgetary plan, shall be for the duration recommended by the committee except that repayment shall begin no earlier than the calendar year following the conclusion of the current fiscal year.
(b) Notwithstanding any other provision of this proviso, the budgetary plan may not include a request for any additional funds, in any form, in excess of eight million dollars. The Joint Bond Review Committee may not approve any additional funds, in any form, in excess of eight million dollars. Any additional funds, in any form, in excess of eight million dollars only may be approved by the General Assembly.
(4) Members of South Carolina State Blue Ribbon Advisory Committee shall be indemnified in the same manner as members of the Retirement System Investment Commission, mutatis mutandis. /
Renumber sections to conform.
Amend sections, totals and title to conform.