Amend the joint resolution, as and if amended, by striking SECTION 1 in its entirety and inserting:
/ SECTION 1. From the funds lapsed to the general fund from the South Carolina Farm Aid Fund pursuant to Section 46-1-160(E)(2), the State Treasurer is directed to loan $700,000 to the Town of Nichols. The funds loaned to the Town of Nichols shall be used by the town for recovery expenses associated with the aftermath of Hurricane Matthew, including, but not limited to, the repair or replacement of equipment, vehicles, and physical infrastructure. Upon receipt of the $700,000 loan, the Town of Nichols shall apply for any and all sources of federal disaster relief funds. The Town of Nichols shall repay the $700,000 loan, free of interest, to the State Treasurer with the federal disaster relief funds within ninety days of receipt. However, if the Town of Nichols has not received federal funds to repay the loan at the close of thirty-six months after receiving the loan, the loan shall be forgiven. /
Renumber sections to conform.
Amend title to conform.