Amend Amendment Number 31A, bearing document number 3579R067 EB LKG, as and if amended, by striking SECTION 4 and inserting:
/ SECTION 4. Article 1, Chapter 1, Title 57 of the 1976 Code is amended by adding:
"Section 57-1-100. (A)(1) Beginning with the annual general appropriations act for Fiscal Year 2016-2017, and each year thereafter, the General Assembly shall appropriate out of the estimated revenue of the general fund for the fiscal year for which the appropriations are made, two hundred million dollars to the Department of Transportation. This appropriation is exempt from any across-the-board reductions.
(2) In Fiscal Year 2016-2017, the General Assembly shall appropriate out of the estimated nonrecurring revenue of the general fund available for appropriation, two hundred million dollars to the Department of Transportation to be used exclusively for improvements to the existing primary and secondary highway systems.
(B)(1) There is created within the South Carolina Transportation Infrastructure Bank the Existing Interstates Improvement Fund which is separate and distinct from any other fund. Any revenues credited to the fund shall remain in the fund and may be carried forward for the same purpose. The fund must be used solely by the bank to finance expansion and improvements to existing mainline interstates, pursuant to item (2).
(2) Beginning in Fiscal Year 2016-2017, and each year thereafter, the Department of Transportation shall transfer an amount equal to the appropriation in subsection (A)(1) to the Existing Interstates Improvement Fund. The transfer must be from motor fuel user fee revenues or other nontax sources. The transferred funds must be used solely by the bank to finance expansion and improvements to existing mainline interstates. The department shall submit a list of interstate expansion and improvement projects to the bank for its consideration. The transferred funds may not be used for projects approved by the bank before July 1, 2013. The bank shall submit all projects proposed to be financed by this section to the Joint Bond Review Committee as provided in Section 11-43-180, before approving a project for financing. The interstate expansion and improvement projects financed by this section do not require a local match.
(C) The appropriation made pursuant to subsection (A)(1) must be contained in the Ways and Means Committee report on the general appropriations bill, the general appropriations bill at the time of third reading in the House of Representatives, the Senate Finance Committee report on the general appropriations bill, the general appropriations bill at the time of a third reading in the Senate, and in any conference report on the general appropriations bill." /
Renumber sections to conform.
Amend title to conform.