H*2846 Session 105 (1983-1984)
H*2846(Rat #0533, Act #0452 of 1984) General Bill, By R. Schwartz, Sheheen and
J.H. Toal
A Bill to amend the Code of Laws of South Carolina, 1976, by adding Chapter 6
to Title 31 so as to provide for the issuance of indebtedness by incorporated
municipalities in connection with redevelopment projects and the payment of
such indebtedness from added increments of tax revenues; and to repeal Chapter
8 of Title 31, relating to the financing of redevelopment projects within
municipalities by means of tax increment financing.
04/07/83 House Introduced and read first time HJ-1964
04/07/83 House Referred to Committee on Judiciary HJ-1965
01/12/84 House Committee report: Favorable with amendment
Judiciary HJ-401
01/17/84 House Amended HJ-498
01/17/84 House Read second time HJ-508
01/18/84 House Read third time and sent to Senate HJ-537
01/19/84 Senate Introduced and read first time SJ-421
01/19/84 Senate Referred to Committee on Finance SJ-421
04/18/84 Senate Committee report: Favorable with amendment
Finance SJ-1444
05/15/84 Senate Read second time SJ-1822
05/15/84 Senate Ordered to third reading with notice of
amendments SJ-1822
05/29/84 Senate Amended SJ-2089
05/29/84 Senate Read third time SJ-2101
05/29/84 Senate Returned SJ-2101
05/30/84 House Concurred in Senate amendment and enrolled HJ-3458
06/13/84 Ratified R 533
06/19/84 Signed By Governor
06/19/84 Effective date 06/19/84
06/19/84 Act No. 452
07/02/84 Copies available
(A452, R533, H2846)
AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING CHAPTER 6
TO TITLE 31 SO AS TO PROVIDE FOR THE ISSUANCE OF INDEBTEDNESS BY INCORPORATED
MUNICIPALITIES IN CONNECTION WITH REDEVELOPMENT PROJECTS AND THE PAYMENT OF SUCH
INDEBTEDNESS FROM ADDED INCREMENTS OF TAX REVENUES; AND TO REPEAL CHAPTER 8 OF
TITLE 31, RELATING TO THE FINANCING OF REDEVELOPMENT PROJECTS WITHIN
MUNICIPALITIES BY MEANS OF TAX INCREMENT FINANCING.
Be it enacted by the General Assembly of the State of South Carolina:
Tax Increment Financing Law
SECTION 1. Title 31 of the 1976 Code is amended by adding:
"Chapter 6
Tax Increment Financing for Redevelopment Projects
Section 31-6-10. This chapter may be cited as the 'Tax Increment Financing Law'.
Section 31-6-20. (A) The General Assembly finds that:
(1) Section 14 of Article X of the Constitution of South Carolina provides
that the General Assembly may authorize by general law that indebtedness for the
purpose of redevelopment within incorporated municipalities may be incurred and
that the debt service of such indebtedness be provided from the added increments
of tax revenues to result from the project.
(2) An increasing demand for public services must be provided from a limited
tax base. Incentives must be provided for redevelopment in areas which are, or
threaten to become, predominantly slum or blighted.
(3) There exist in many municipalites of this State blighted and conservation
areas; the conservation areas are rapidly deteriorating and declining and may
soon become blighted areas if their decline is not checked; the stable economic
and physical development of the blighted areas and conservation areas is
endangered by the presence of blighting factors as manifested by progressive and
advanced deterioration of structures, by the overuse of housing and other
facilities, by a lack of physical maintenance of existing structures, by obsolete
and inadequate community
facilities, and a lack of sound community planning, by obsolete platting,
diversity of ownership, excessive tax and special assessment delinquencies, or
by a combination of these factors; that as a result of the existence of blighted
areas and areas requiring conservation, there is an excessive and
disproportionate expenditure of public funds, inadequate public and private
investment, unmarketability of property, growth in delinquencies and crime, and
housing and zoning law violations in such areas together with an abnormal exodus
of families and businesses so that the decline of these areas impairs the value
of private investments and threatens the sound growth and the tax base of taxing
districts in such areas, and threatens the health, safety, morals, and welfare
of the public.
(4) In order to promote and protect the health, safety, morals, and welfare
of the public, blighted conditions need to be eradicated and conservation
measures instituted and redevelopment of such areas undertaken; to remove and
alleviate adverse conditions it is necessary to encourage private investment and
restore and enhance the tax base of the taxing districts in such areas by the
redevelopment of project areas. The eradication of blighted areas and treatment
and improvement of areas by redevelopment projects is declared to be essential
to the public interest.
(5) The use of incremental tax revenues derived from the tax rates of various
taxing districts in redevelopment project areas for the payment of redevelopment
project costs is of benefit to the taxing districts because taxing districts
located in redevelopment project areas would not derive the benefits of an
increased assessment base without the benefits of tax increment financing, all
surplus tax revenues are turned over to the taxing districts in redevelopment
project areas, and all taxing districts benefit from the removal of blighted
conditions and the eradication of conditions requiring conservation measures.
(B) The General Assembly intends to implement the authorization granted in
Article X, Section 14, of the Constitution of this State. The authorization in
this chapter provides for this State an essential method for financing
redevelopment. The governing bodies of the incorporated municipalities are
vested with all powers consistent with the Constitution necessary, useful, and
desirable to enable them to accomplish redevelopment in areas which are or
threaten to become blighted and to sufficiently meet all constitutional
requirements pertaining to incurring indebtedness for the purpose of
redevelopment and funding the debt service of such indebtedness from the added
increment of tax revenues to result from such redevelopment as provided in
subsection (10) of Section 14 of Article X of the Constitution of this State.
The indebtedness incurred pursuant to subsection (10) of Section 14 of Article
X of the Constitution is exempt from all debt limitations imposed by Article X.
The powers granted in this chapter must be in all respects exercised for the
benefit of the inhabitants of the State, for the increase of its commerce, and
for the promotion of its welfare and prosperity.
(C) All action taken by any municipality in carrying out the purposes of this
chapter will perform essential governmental functions.
(D) Pursuant to the authorization granted in Article VIII, Section 13, of the
Constitution of this State, if a redevelopment project area is located in more
than one municipality, the powers granted herein may be exercised jointly.
Section 31-6-30. Unless the context clearly indicates otherwise:
(1) 'Blighted area' means any improved or vacant area within the boundaries
of a redevelopment project area located within the territorial limits of the
municipality where, (a) if improved, industrial, commercial, and residential
buildings or improvements, because of a combination of five or more of the
following factors: age; dilapidation; obsolescence; deterioration; illegal use
of individual structures; presence of structures below minimum code standards;
excessive vacancies; overcrowding of structures and community facilities; lack
of ventilation, light, or sanitary facilities; inadequate utilities; excessive
land coverage; deleterious land use or layout; depreciation of physical
maintenance; lack of community planning, are detrimental to the public safety,
health, morals, or welfare or, (b) if vacant, the sound growth is impaired by (i)
a combination of two or more of the following factors: obsolete platting of the
vacant land; diversity of ownership of such land; tax and special assessment
delinquencies on such land; deterioration of structures or site improvements in
neighboring areas adjacent to the vacant land; or (ii) the area immediately prior
to becoming vacant qualified as a blighted area. Any area within a redevelopment
plan established by Chapter 7 of Title 31 is deemed to be a blighted area.
(2) 'Conservation area' means any improved area within the boundaries of a
redevelopment project area located within the territorial limits of the
municipality that is not yet a blighted area but, because of a combination of
three or more of the following factors: dilapidation; obsolescence;
deterioration; illegal use of structures; presence of structures below minimum
code standards; abandonment; excessive vacancies; overcrowding of structures and
community facilities; lack of ventilation, light, or sanitary facilities;
inadequate utilities; excessive land coverage; depreciation of physical
maintenance; or lack of community planning, is detrimental to the public safety,
health, morals, or welfare and may become a blighted area.
(3) 'Municipality' means an incorporated municipality of this State.
(4) 'Obligations' means bonds, notes, or other evidence of indebtedness issued
by the municipality to carry out a redevelopment project or to refund outstanding
obligations.
(5) 'Redevelopment plan' means the comprehensive program of the municipality
for redevelopment intended by the payment of redevelopment costs to reduce or
eliminate those conditions which qualified the redevelopment project area as a
blighted area or conservation area or combination thereof and thereby to enhance
the tax bases of the taxing districts which extend into the project redevelopment
area. Each redevelopment plan shall set forth in writing the program to be
undertaken to accomplish the objectives and shall include, but not be limited to,
estimated redevelopment project costs, the anticipated sources of funds to pay
costs, the nature and term of any obligations to be issued, the most recent
equalized assessed valuation of the project area, an estimate as to the equalized
assessed valuation after redevelopment, and the general land uses to apply in the
redevelopment project area. A redevelopment plan established by Chapter 7 of
Title 31 is deemed a redevelopment plan for purposes of this paragraph.
(6) 'Redevelopment project' means any buildings, improvements, including
street improvements, water, sewer and storm drainage facilities, parking
facilities, and recreational facilities. Any project or undertaking authorized
under Section 6-21-50 may also qualify as a redevelopment project under this
chapter. All such projects are to be owned by the municipality.
(7) 'Redevelopment project area' means an area within the incorporated area
of and designated by the municipality, which is not less in the aggregate than
one and one-half acres and in respect to which the municipality has made a
finding that there exist conditions that cause the area to be classified as a
blighted area or a conservation area, or a combination of both blighted areas and
conservation areas. The total aggregate amount of all redevelopment project
areas within any one municipality may not exceed five percent of the total
acreage of the municipality.
(8) 'Redevelopment project costs' means and includes the sum total of all
reasonable or necessary costs incurred or estimated to be incurred and any costs
incidental to a redevelopment project. The costs include, without limitation:
(a) Costs of studies and surveys, plans, and specifications; professional
service costs including, but not limited to, architectural, engineering, legal,
marketing, financial, planning, or special services.
(b) Property assembly costs including, but not limited to, acquisition of land
and other property, real or personal, or rights or interest therein, demolition
of buildings, and the clearing and grading of land.
(c) Costs of rehabilitation, reconstruction, repair, or remodeling of a
redevelopment project.
(d) Costs of the construction of a redevelopment project.
(e) Financing costs including, but not limited to, all necessary and
incidental expenses related to the issuance of obligations and which may include
payment of interest on any obligations issued under the provisions of this
chapter accruing during the estimated period of construction of any redevelopment
project for which the obligations are issued and including reasonable reserves
related thereto.
(f) Relocation costs to the extent that a municipality determines that
relocation costs must be paid or required by federal or state law.
(9) 'Taxing districts' means counties, incorporated municipalities, schools,
special purpose districts, and public and any other municipal corporations or
districts with the power to levy taxes.
(10) 'Vacant land' means any parcel or combination of parcels of real property
without industrial, commercial, and residential buildings which has not been used
for commercial or agricultural purposes within five years prior to the
designation of the redevelopment project area.
Section 31-6-40. Obligations secured by the special tax allocation fund set
forth in Section 31-6-70 for the redevelopment project area may be issued to
provide for redevelopment project costs. The obligations, when so issued, must
be retired in the manner provided in the ordinance authorizing the issuance of
the obligations by the receipts of taxes levied as specified in Section 31-6-110
against the taxable property included in the area and other revenue as specified
in Section 31-6-110 designated by the municipality which source does not involve
revenues from any tax or license. In the ordinance the municipality may pledge
all or any part of the funds in and to be deposited in the special tax allocation
fund created pursuant to Section 31-6-70 to the payment of the redevelopment
project costs and obligations. Any pledge of funds in the special tax allocation
fund must provide for distribution to the taxing districts of monies not required
for payment and securing of the obligations and the excess funds are surplus
funds. In the event a municipality only pledges a portion of the monies in the
special tax allocation fund for the payment of redevelopment project costs or
obligations, any funds remaining in the special tax allocation fund after
complying with the requirements of the pledge are also considered surplus funds.
All surplus funds must be distributed annually to the taxing districts in the
redevelopment project area by being paid by the municipality to the county
treasurer of the county in which the municipality is located. The county
treasurer shall immediately thereafter make distribution to the respective taxing
districts in the same manner and proportion as the most recent distribution by
the county treasurer to the affected districts of real property taxes from real
property in the redevelopment project area.
In addition to obligations secured by the special tax allocation fund, the
municipality may pledge for a period not greater than the term of the obligations
toward payment of the obligations any part of the revenues remaining after
payment of operation and maintenance, of all or part of any redevelopment
project.
The obligations may be issued in one or more series, may bear such date or
dates, may mature at such time or times not exceeding thirty years from their
respective dates, may bear such rate or rates of interest as the governing body
shall determine, may be in such denomination or denominations, may be in such
form, either coupon or registered, may carry such registration and conversion
privileges, may be executed in such manner, may be payable in such medium of
payment, at such place or places, may be subject to such terms of redemption,
with or without premium, may be declared or become due before the maturity date
thereof, may provide for the replacement of mutilated, destroyed, stolen, or lost
bonds, may be authenticated in such manner and upon compliance with such
conditions, and may contain such other terms and covenants, as may be provided
by the governing body of the municipality. If the governing body determines to
sell any obligations the obligations must be sold at public or private sale in
such manner and upon such terms as the governing body considers best for the
interest of the municipality.
A certified copy of the ordinance authorizing the issuance of the obligations
must be filed with the clerk of the governing body of each county and treasurer
of each county in which any portion of the municipality is situated and shall
constitute the authority for the extension and collection of the taxes to be
deposited in the special tax allocation fund.
A municipality also may issue its obligations to refund in whole or in part
obligations previously issued by such municipality under the authority of this
chapter, whether at or prior to maturity.
The debt incurred by a municipality pursuant to this chapter is exclusive of
any statutory limitation upon the indebtedness a taxing district may incur. All
obligations issued pursuant to this chapter shall contain a statement on the face
of the obligation specifying the sources from which payment is to be made and
shall state that the full faith, credit, and taxing powers are not pledged for
the obligations.
The trustee or depositary under any indenture may be such persons or
corporations as the governing body designates, or they may be nonresidents of
South Carolina or incorporated under the laws of the United States or the laws
of other states of the United States.
Section 31-6-50. The proceeds from obligations issued under authority of this
chapter must be applied only for the purpose for which they were issued. Any
premium and accrued interest received in any such sale must be applied to the
payment of the principal of or the interest on the obligations sold. Any portion
of the proceeds not needed for redevelopment project costs must be applied to the
payment of the principal of or the interest on the obligations.
Section 31-6-60. The obligations authorized by this chapter and the income from
the obligations and all security agreements and indentures executed as security
for the obligations made pursuant to the provisions of this chapter and the
revenue derived from the obligations are exempt from all taxation in the State
of South Carolina except for inheritance, estate, or transfer taxes and all
security agreements and indentures made pursuant to the provisions of this
chapter are exempt from all state stamp and transfer taxes.
Section 31-6-70. A municipality, at the time a redevelopment project area is
designated and which has undertaken acts establishing a redevelopment plan and
redevelopment project and has designated a redevelopment project area, which acts
are in conformance with the procedures of this chapter, may issue obligations
under this chapter to finance the redevelopment project upon adoption of an
ordinance providing that after the total equalized assessed valuation of the
taxable real property in a redevelopment project area exceeds the certified
'total initial equalized assessed value' established in accordance with
subsection (b) of Section 31-6-100 of all taxable real property in such project
area, the ad valorem taxes, if any, arising from the levies upon taxable real
property in such project area by taxing districts and tax rates determined in the
manner provided in subsection (b) of Section 31-6-100 each year after the
effective date of the ordinance until redevelopment project costs have been paid
must be divided as follows:
(a) That portion of taxes levied upon each taxable lot, block, tract, or
parcel of real property which is attributable to the initial equalized assessed
value of each such taxable lot, block, tract, or parcel of real property in the
redevelopment project area must be allocated to and when collected must be paid
by the county treasurer to the respective affected taxing districts in the manner
required by law in the absence of the adoption of the redevelopment plan.
(b) That portion, if any, of taxes which is attributable to the increase in
the current equalized assessed valuation of each taxable lot, block, tract, or
parcel of real property in the redevelopment project area over and above the
initial equalized assessed value of each property in the redevelopment project
area must be allocated to and when collected must be paid to the municipality who
shall deposit the taxes into a special fund called the special tax allocation
fund of the municipality for the purpose of paying redevelopment project costs
and obligations incurred in the payment of the costs and obligations. The
municipality may pledge in the ordinance the funds in and to be deposited in the
special tax allocation fund for the payment of such costs and obligations.
Any ordinance adopted based on acts of the municipality occurring prior to the
effective date of this chapter must incorporate by reference and adopt those
prior acts undertaken in accordance with the procedures of this chapter as if
they had been undertaken pursuant to this chapter.
When redevelopment project costs incurred under this chapter have been paid,
as evidenced by resolution of the governing body of the municipality, all surplus
funds then remaining in the special tax allocation fund must be paid by the
municipal treasurer to the county treasurer who shall immediately, after
receiving the payment, pay the funds to the taxing districts in the redevelopment
project area in the same manner and proportion as the most recent distribution
by the treasurer to the affected districts of real property taxes from real
property in the redevelopment project area.
Upon the payment of all redevelopment project costs, retirement of obligations,
and the distribution of any surplus monies pursuant to this section the
municipality shall adopt an ordinance dissolving the tax allocation fund for the
project redevelopment area and terminating the designation of the redevelopment
project area as a redevelopment project area for purposes of this chapter.
Thereafter, the rates of the taxing districts must be extended and taxes levied,
collected, and distributed in the manner applicable in the absence of the
adoption of a redevelopment plan and the issuance of obligations under this
chapter.
Section 31-6-80. Prior to the issuance of any obligations under this chapter,
the municipality shall set forth by way of ordinance the following:
(a) A copy of the redevelopment plan containing a statement of the objectives
of a municipality with regard to the plan.
(b) A statement indicating the need for and proposed use of the proceeds of
the obligations in relationship to the redevelopment plan.
(c) A statement containing the cost estimates of the redevelopment plan and
redevelopment project and the projected sources of revenue to be used to meet the
costs including estimates of tax increments and the total amount of indebtedness
to be incurred.
(d) A list of all real property in the redevelopment project area.
(e) The duration of the redevelopment plan.
(f) A statement of the estimated impact of the redevelopment plan upon the
revenues of all taxing districts in which a redevelopment project area is
located.
(g) Findings that (i) the redevelopment project area is a blighted or
conservation area and that private initiatives are unlikely to alleviate these
conditions without substantial public assistance, (ii) property values in the
area would remain static or decline without public intervention, and (iii)
redevelopment is in the interest of the health, safety, and general welfare of
the citizens of the municipality.
Before approving any redevelopment plan and the issuance of obligations under
this chapter, the governing body of the municipality must hold a public hearing
on the redevelopment plan and the issuance of obligations after published notice
in a newspaper of general circulation in the county in which the municipality and
any taxing district affected by the redevelopment plan is located not less than
fifteen days and not more than thirty days prior to the hearing. The notice
shall include the following:
(1) the time and place of the public hearing;
(2) the boundaries of the proposed redevelopment project area;
(3) a notification that all interested persons will be given an opportunity
to be heard at the public hearing; and
(4) a description of the redevelopment plan and redevelopment project.
Not less than forty-five days prior to the date set for the public hearing, the
municipality shall give notice to all taxing districts of which taxable property
is included in the redevelopment project area, and in addition to the other
requirements of the notice set forth in the section, the notice shall request
each taxing district to submit comments to the municipality concerning the
subject matter of the hearing prior to the date of the public hearing.
If a taxing district does not file an objection to the redevelopment plan at
or prior to the date of the public hearing, the taxing district is considered to
have consented to the redevelopment plan and the issuance of obligations under
this chapter to finance the redevelopment project. The municipality may issue
obligations to finance the redevelopment project if less than all taxing
districts consent to the redevelopment plan. The tax increment for a taxing
district that does not consent to the redevelopment plan must not be included in
the special tax allocation fund after the first fifteen years after the issuance
of obligations to finance such plan. No consent is required of any taxing
district if the term of the proposed obligations is fifteen years or less.
Prior to the adoption of an ordinance approving a redevelopment plan, changes
may be made in the redevelopment plan which do not alter the exterior boundaries
or do not substantially affect the general land use established in the plan or
substantially change the nature of the redevelopment project, without further
hearing or notice, provided that notice of the changes is given by mail to each
affected taxing district and by publication in a newspaper or newspapers of
general circulation within the taxing districts not less than ten days prior to
the adoption of the changes by ordinance. Notice of the adoption of the
ordinance must be published by the municipality in a newspaper having general
circulation in the affected taxing districts. Any interested party may, within
twenty days after the date of publication of the notice of adoption of the
redevelopment plan, but not afterwards, challenge the validity of such adoption
by action de novo in the court of common pleas in the county in which the
redevelopment plan is located.
After adoption of an ordinance approving a redevelopment plan, any alteration
in the exterior boundaries, general land uses established pursuant to the
redevelopment plan or nature of the redevelopment project must be approved by
ordinance of the municipality in accordance with the procedures provided in this
chapter for the initial approval of a redevelopment project and designation of
a redevelopment project area.
Section 31-6-90. When there are any persons residing in the area covered by the
redevelopment plan:
(1) The redevelopment plan shall include:
(a) An assessment of the displacement impact of the redevelopment project and
provisions for the relocation of all persons who would be displaced by the
project, provided that no residents may be displaced by a redevelopment project
unless housing is made available to them pursuant to the terms of this section.
(b) Provisions for the creation of housing opportunities to the extent
feasible to enable a substantial number of the displaced persons to relocate
within or in close proximity to the area covered by the redevelopment plan.
(2) Prior to authorizing the demolition of any residential units in connection
with a tax increment financing plan, the governing body of the municipality must
insure that the redevelopment plan complies with the requirements of this section
and further that standard housing is made available to all persons to be
displaced.
(3) Persons displaced by a redevelopment plan are entitled to the benefits and
protections available under Section 28-11-10. The costs of the relocation are
proper expenditures for the proceeds of any obligations issued under this
chapter.
Section 31-6-100. (a) If a municipality by ordinance provides for the issuance
of obligations pursuant to Section 31-6-70, the county assessor immediately after
the issuance must determine (1) the most recently ascertained equalized assessed
value of each lot, block, tract, or parcel of real property within the
redevelopment project area which value is the 'initial equalized assessed value'
of each piece of property, and (2) the total equalized assessed value of all
taxable real property within the redevelopment project area by adding together
the most recently ascertained equalized assessed value of each taxable lot,
block, tract, or parcel of real property within the project area and certifying
the amount as the 'total initial equalized assessed value' of the taxable real
property within the redevelopment project area.
(b) After the county assessor has certified the total initial equalized
assessed value of the taxable real property in the area, then in respect to every
taxing district containing a redevelopment project area, the county assessor or
any other official required by law to ascertain the amount of the equalized
assessed value of all taxable property within the district for the purpose of
computing the rate per cent of tax to be extended upon taxable property within
such district, shall in every year that obligations are outstanding for
redevelopment projects in the redevelopment area ascertain the amount of value
of taxable property in a project redevelopment area by including in the amount
the certified total initial equalized assessed value of all taxable real property
in the area in lieu of the equalized assessed value of all taxable real property
in the area. The rate per cent of tax determined must be extended to the current
equalized assessed value of all property in the redevelopment project area in the
same manner as the rate percent of tax is extended to all other taxable property
in the taxing district. The method of extending taxes established under this
section terminates when the municipality adopts an ordinance dissolving the
special tax allocation fund for the redevelopment project.
Section 31-6-110. Revenues received by the municipality from any property,
building, or facility owned by the municipality or any agency or authority
established by the municipality in the redevelopment project area may be used to
pay redevelopment project costs or reduce outstanding obligations of the
municipality incurred under this chapter for redevelopment project costs. If the
obligations are used to finance the extension or expansion of a system as defined
in Section 6-21-40 in the redevelopment project area, all or a portion of the
revenues of the system, whether or not located entirely within the redevelopment
project area, including the revenues of the redevelopment project, may be pledged
to secure the obligations issued under this chapter. The municipality may place
the revenues in the special tax allocation fund or a separate fund which must be
held by the municipality or financial institution designated by the municipality.
Revenue received by the municipality from the sale or other disposition of real
property acquired by the municipality with the proceeds of obligations issued
under the provisions of this chapter must be deposited by the municipality in the
special tax allocation fund or a separate fund which must be held by the
municipality or financial institution designated by the municipality. Proceeds
of grants may be pledged by the municipality and deposited in the special tax
allocation fund or a separate fund.
Section 31-6-120. If the redevelopment project area is located within more than
one municipality, the municipalities may jointly adopt a redevelopment plan and
authorize obligations as provided under the provisions of this chapter."
Repeal
SECTION 2. Chapter 8 of Title 31 of the 1976 Code is repealed.
Time effective
SECTION 3. This act shall take effect upon approval by the Governor. |