Amend the bill, as and if amended, Part IB, Section 19, SOUTH CAROLINA STATE UNIVERSITY, page 410, by amending the proviso designated as 19.___(SCSU-Blue Ribbon Advisory Committee), by striking subsection (B)(2) and subsection (3) and inserting:
/ (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. The budgetary plan must be provided to each member of the General Assembly. 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. The approved budgetary plan, if different from the proposed budgetary plan, must be provided to each member of the General Assembly. 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) 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. Members of the General Assembly must be provided with a complete list of all accounts from which the State Treasurer will transfer funds. 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. /
Renumber sections to conform.
Amend sections, totals and title to conform.