H 4021 General Bill, By Boan
 A BILL TO AMEND SECTION 59-107-90, CODE OF LAWS OF SOUTH CAROLINA, 1976,
 RELATING TO THE MAXIMUM AMOUNT OF OUTSTANDING STATE INSTITUTION BONDS, SO AS
 TO INCREASE THE MAXIMUM AMOUNT OF SUCH BONDS.

   04/10/97  House  Introduced and read first time HJ-125
   04/10/97  House  Referred to Committee on Ways and Means HJ-125
   04/24/97  House  Committee report: Favorable with amendment Ways
                     and Means HJ-9
   04/29/97  House  Objection by Rep. Tripp HJ-86
   04/30/97  House  Objection by Rep. Kirsh, Walker, Littlejohn,
                     Davenport & Rice HJ-37
   04/30/97  House  Requests for debate-Rep(s). Young-Brickell,
                     Lanford, R. Smith, Woodrum & H. Brown HJ-37
   04/30/97  House  Debate adjourned until Thursday, May 1, 1997 HJ-91
   05/14/97  House  Recommitted to Committee on Ways and Means HJ-47

April 24, 1997

H. 4021

S. Printed 4/24/97--H.

Read the first time April 10, 1997.

To whom was referred a Bill (H. 4021), to amend Section 59-107-90, Code of Laws of South Carolina, 1976, relating to the maximum amount of outstanding state institution bonds, etc., respectfully

That they have duly and carefully considered the same, and recommend that the same do pass with amendment:

Amend the bill, as and if amended, by striking SECTION 1 and inserting:

/SECTION 1. Section 59-107-90 of the 1976 Code, as last amended by Act 145 of 1995, is further amended to read:

"Section 59-107-90. Notwithstanding any other provision of this chapter, there must not be outstanding at any given time state institution bonds for all institutions in excess of ninety one hundred million dollars except that in computing this debt limitation, all bonds defeased pursuant to Section 59-107-200 must be deducted from the aggregate of state institution bonds outstanding at the time."/

Renumber sections to conform.

Amend title to conform.

HENRY E. BROWN, JR., for Committee.

1. Estimated Cost to State-First Year$ - 0 -

2. Estimated Cost to State-Annually Thereafter$ - 0 -

This bill would have no impact on the general fund. It increases the amount of bonds that may be outstanding for colleges and universities relating to the issuance of institutional bonds.

Approved By:

Michael L. Shealy

Office of State Budget

TO AMEND SECTION 59-107-90, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MAXIMUM AMOUNT OF OUTSTANDING STATE INSTITUTION BONDS, SO AS TO INCREASE THE MAXIMUM AMOUNT OF SUCH BONDS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 59-107-90 of the 1976 Code is amended to read:

"Section 59-107-90.

SECTION 2. This act takes effect upon approval by the Governor.