View Amendment Current Amendment: 27a to Bill 4000 Rep. FRY proposes the following Amendment No. 27a to H.4000 as passed by the House of Representatives
(Doc Name COUNCIL\DG\4000C023.NBD.DG19.DOCX):


Amend the bill, as and if amended, Part IB, Section 117, GENERAL PROVISIONS, page 523, by amending amendment 12A Sub, doc path h:/legwork\house\amend\h-wm\001\
h2 santee cooper.docx, beginning on page 18, by striking (H)(1) and inserting:

/            (H)      (1)      At the conclusion of the evaluation of the bids and proposals, and negotiations, as required by this joint resolution, but no later than December 1, 2019, the department shall concurrently present a recommendation by its professional service experts on all bids for sale and all management proposals that the professional service experts consider to be in the best interests of the State, its taxpayers, Santee Cooper's employees and retirees, economic development interests, and the customers of Santee Cooper. Also, the department shall present its recommendation for Santee Cooper's proposal. Each recommendation must include justifications for the recommendation; also, the recommendations in regard to the sale and management proposal must include a contract for each recommended bidder obligating the bidder to comply with terms of its bid in the event it is approved by the General Assembly, along with a proposed contract to execute the sale or management proposal, and any supporting documents. The proposed contracts must include covenants that the bidder will abide by the terms of its bid for sale or its proposal, as applicable. The department must also present a full evaluation of each recommendation and for Santee Cooper's proposal. An evaluation must include, but not be limited to: (a) a description of each item listed in Sections B, C or D, as applicable, along with a copy of an opinion letter submitted by a bond attorney and/or tax attorney; (b) a proposed contract with Central Power Electric Cooperative, Inc., including a statement from the professional service experts involved in the negotiations that each party did or did not negotiate in good faith; (c) the Office of Regulatory Staff's commentary; (d) any recommendations or concerns from the department's professional services; and (e) any supporting documents.
     The department must enter into a contract with each entity that submitted a bid for sale or management proposal that establishes penalties for failure to proceed with finalizing the sale or management proposal in the event the bid or proposal is selected by the General Assembly. This contract must include, but is not limited to, earnest money to be paid upon a recommendation of that entity being made to the General Assembly and penalties for failure to finalize the terms of the bid or proposal upon selection by the General Assembly.                  /

Renumber sections to conform.
Amend totals and titles to conform.