Current Status Introducing Body:House Bill Number:3784 Primary Sponsor:Cobb-Hunter Committee Number:26 Type of Legislation:GB Subject:Housing Finance and Development Authority Residing Body:House Current Committee:Labor, Commerce and Industry Computer Document Number:436/11151AC.93 Introduced Date:19930330 Last History Body:House Last History Date:19930330 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Cobb-Hunter Rogers Beatty Waites Scott Keyserling Stille Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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3784 House 19930330 Introduced, read first time, 26
referred to Committee
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TO AMEND SECTION 31-13-30, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE STATE HOUSING FINANCE AND DEVELOPMENT AUTHORITY, SO AS TO PROVIDE THAT THERE MUST BE ONE COMMISSIONER FROM EACH CONGRESSIONAL DISTRICT AND ONE COMMISSIONER AT-LARGE AND TO PROVIDE FOR REPRESENTATIVES FROM CERTAIN INDUSTRIES AND PROGRAMS; AND TO AMEND SECTION 31-13-50, AS AMENDED, RELATING TO THE POWERS OF THE AUTHORITY, SO AS TO PROVIDE THAT THERE MUST BE AN EMPHASIS ON DEVELOPMENT OF LOWER SOCIO-ECONOMIC HOUSING.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 31-13-30 of the 1976 Code, as last amended by Act 538 of 1988, is further amended to read:
"Section 31-13-30. The Governor shall appoint, with the advice and consent of the Senate, seven persons to be commissioners of the South Carolina State Housing Finance and Development Authority,
one from each congressional district and one at-large. The seven persons so appointed shall have experience in the fields of mortgage finance, banking, real estate, and home building commissioners must include representatives of the mortgage and housing finance industry, home construction, lower socio-economic housing programs, and consumers. In making these appointments the Governor shall consider race, gender, and other demographic factors to assure nondiscrimination, inclusion, and representation to the greatest extent possible of all segments of the population of this State. The Governor shall appoint a chairman from among the seven commissioners. The commissioners must be appointed for terms of four years, except that all vacancies must be filled for the unexpired term. A commissioner shall hold office until his successor has been appointed and qualifies. A certificate of the appointment or reappointment of any commissioner must be filed in the office of the Secretary of State and in the office of the authority, and the certificate is conclusive evidence of the due and proper appointment of the commissioner. The Governor or his designee and the State Commissioner of Health and Environmental Control or his designee from his administrative staff shall serve ex officio as commissioners of the authority with the same powers as the other commissioners."
SECTION 2. Section 31-13-50 of the 1976 Code, as last amended by Act 575 of 1988, is further amended to read:
"Section 31-13-50. Except as otherwise provided in this article, the authority and its commissioners have the same functions, rights, powers, duties, privileges, immunities, and limitations as those provided for housing authorities created for cities, counties or groups of counties, and the commissioners of the housing authorities with an emphasis on stimulating the development of lower socio-economic housing, including housing for the homeless. The authority also may make home equity conversion mortgages to any person who is a member of a beneficiary class of the authority as provided in Section 31-13-170(b), (o), and (p) and who is over sixty-five years of age. The authority may prepare and administer a program for the home equity conversion mortgages and may coordinate any available funding for the program with the federal government and the private sector. Money received as a result of obtaining a home equity conversion mortgage must not be counted as income in a determination of entitlement to any public assistance. The term `home conversion mortgage' means a first mortgage which provides for future payments to the homeowner based on accumulated equity. The provisions of this chapter and Chapter 11 apply to the authority in the same manner and to the same extent as the provisions are applicable to a housing authority created for a city or a county, and the term `Authority' or `Housing Authority' as used in the provisions includes the South Carolina State Housing Finance and Development Authority unless a different meaning clearly appears from the context."
SECTION 3. This act takes effect upon approval by the Governor.