Amend the bill, as and if amended, Section 59-157-140(B), as contained in SECTION 1, by deleting /, and the financing of those capital projects, /.
Amend the bill further, Section 59-157-140(C), as contained in SECTION 1, by deleting the subsection in its entirety and inserting:
/ (C) Notwithstanding
another provision of this chapter:
(1)
a permanent improvement project, as defined in Section
2-47-50, must be submitted to the Joint Bond Review Committee
for review and comment and to the State Fiscal Accountability
Authority for approval if the project:
(a)
requires the issuance of debt which involves funds derived
from the issuance of private debt, excluding said private debt
issued by the South Carolina Jobs Economic Development
Authority;
(b)
requires revenue bonds authorized pursuant to Title X,
Section 13(9) of the South Carolina Constitution;
(c)
requires state general obligation bond funds; capital
reserve funds; or
(d)
uses State-appropriated funds for its funding; and
(2)
private debt issued by the South Carolina Jobs Economic
Development Authority must continue to go before the South
Carolina Coordinating Council for Economic Development. /
Amend the bill further, Section 59-157-160(B), as contained in SECTION 1, by deleting the subsection in its entirety and inserting:
/ (B) The board of trustees also shall establish internal and external audit functions to monitor the activities of the auxiliary division, and annually before September thirtieth report the findings of these internal and external audit functions from the preceding fiscal year to the Governor, the Senate Finance Committee, and the House Ways and Means Committee. /
Renumber sections to conform.
Amend title to conform.