South Carolina Legislature


Session 111 - (1995-1996)Printer Friendly
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S*0048 (Rat #0094, Act #0055 of 1995) General Bill, By Leatherman, Elliott, Giese, Leventis, Rankin, M.T. Rose and Wilson
Similar (H 3002)
    A Bill to amend the Code of Laws of South Carolina, 1976, by adding Section 11-27-110 so as to provide that the principal amount of a lease purchase or financing agreement is subject to the constitutional debt limit for political subdivisions and that payments made by the state under such an agreement are deemed general obligation debt service for purposes of the constitutional debt service limit on the State, to provide that the calculation of the limitation on general obligation bonded indebtedness for future general obligation bond issues must include the principal balance of any outstanding financing agreement; and to amend the 1976 Code by adding Section 59-17-120 so as to provide that school bonds called before maturity may be reissued only if the payoff amount and the amount necessary to service the reissued bonds does not increase by more than eight percent in a year the debt service on the original bonded indebtedness and does not exceed the district's debt limit.-amended title
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09/19/94Senate Prefiled
09/19/94Senate Referred to Committee on Finance
01/10/95Senate Introduced and read first time SJ-24
01/10/95Senate Referred to Committee on Finance SJ-24
02/22/95Senate Committee report: Favorable with amendment Finance SJ-10
02/23/95Senate Amended SJ-8
02/28/95Senate Read second time SJ-19
02/28/95Senate Ordered to third reading with notice of amendments SJ-19
03/01/95Senate Read third time and sent to House SJ-10
03/02/95House Introduced, read first time, placed on calendar without reference HJ-14
03/15/95House Debate adjourned until Tuesday, March 21, 1995 HJ-15
03/21/95House Committed to Committee on Ways and Means HJ-11
04/12/95House Committee report: Favorable Ways and Means HJ-10
04/20/95House Objection by Rep. Walker HJ-45
04/20/95House Debate interrupted HJ-46
04/20/95House Objection by Rep. Herdklotz, Allison, Littlejohn, Davenport, Lanford, Wells, Wilder & Stoddard HJ-48
04/26/95House Objection withdrawn by Rep. Lanford HJ-114
05/03/95House Objection withdrawn by Rep. Wells & Stoddard HJ-79
05/04/95House Objection withdrawn by Rep. Davenport HJ-28
05/09/95House Objection withdrawn by Rep. Herdklotz HJ-181
05/09/95House Objection by Rep. Wright & Harrell HJ-181
05/09/95House Read second time HJ-220
05/09/95House Roll call Yeas-78 Nays-5 HJ-220
05/10/95House Read third time and enrolled HJ-88
06/06/95 Ratified R 94
06/07/95 Signed By Governor
06/12/95 Effective date 06/12/95
08/10/95 Copies available
08/10/95 Act No. 55

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