H 3206 Session 109 (1991-1992)
H 3206 General Bill, By P.B. Harris, C.Y. Waites, D.C. Waldrop and J.B. Wilder
A Bill to amend Act 1377 of 1968, as amended, relating to the issuance of
capital improvement bonds, so as to authorize the issuance of additional bonds
for the Commission on Aging and increase the limitation on the maximum
aggregate principal indebtedness of the State; and to temporarily increase the
bingo license tax and authorize the additional revenues to be used for partial
payment of principal and interest payments for capital improvement bond
issues.
01/15/91 House Introduced and read first time HJ-5
01/15/91 House Referred to Committee on Ways and Means HJ-5
A BILL
TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO
THE ISSUANCE OF CAPITAL IMPROVEMENT BONDS, SO AS TO
AUTHORIZE THE ISSUANCE OF ADDITIONAL BONDS FOR THE
COMMISSION ON AGING AND INCREASE THE LIMITATION ON
THE MAXIMUM AGGREGATE PRINCIPAL INDEBTEDNESS OF
THE STATE; AND TO TEMPORARILY INCREASE THE BINGO
LICENSE TAX AND AUTHORIZE THE ADDITIONAL REVENUES
TO BE USED FOR PARTIAL PAYMENT OF PRINCIPAL AND
INTEREST PAYMENTS FOR CAPITAL IMPROVEMENT BOND
ISSUES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Item (f) of Section 3 of Act 1377 of 1968, as last
amended by Act 622 of 1990, is further amended by adding:
"Commission on Aging
(a) Repairs to existing multi-
purpose senior citizen
centers, satellite
centers, and nutrition
sites $ 511,900
(b) Construct ten multi-
purpose senior citizen
centers in counties
without centers 3,557,200
(c) Construct additions to
facilities to provide
additional space 641,025
(d) Construct ten satellite
centers in eight counties 1,841,000
(e) Construct seven replace-
ment senior centers 2,206,000
__________
Total, Commission on Aging $ 8,757,125
The funds authorized in this subitem are for the projects identified in
the Senior Citizens Center Survey published by the Commission on
Aging in October, 1989, and updated August, 1990. The commission
must receive Joint Bond Review Committee review and Budget and
Control Board approval for each individual project, including the
amount of funds required to complete the project. Without regard to a
specific project, twenty-five percent of the total amount authorized in
this item must begin to be funded in the groups to be released July 1,
1991, and January 1, 1992.
TOTAL, ALL AGENCIES $8,757,125".
SECTION 2. Section 4 of Act 1377 of 1968, as last amended by Act
638 of 1988, is further amended to read:
"Section 4. The aggregate principal indebtedness on account
of bonds issued pursuant to this act may not exceed
$1,445,782,506.29 $1,514,539,631.10. The limitation
imposed by the provisions of this section does not apply to bonds issued
on behalf of the Mental Health Commission as provided in Act 151
of 1983 and Acts 1272 and 1276 of 1970, as amended, or
to bonds issued on behalf of the Commission on Mental Retardation as
provided in Act 1087 of 1970 Article 7, Chapter 20, Title 44,
of the 1976 Code, as added by Act 496 of 1990. The limitation
imposed by the provisions of this section is not considered to be an
obligation of the contract made between the State and holders of bonds
issued pursuant to this act, and the limitation imposed by the provisions
of this section may be enlarged by acts amending it or reduced by the
application of the Capital Reserve Fund or by amendments of this act.
Within these limitations state capital improvement bonds may be issued
under the conditions prescribed by this act."
SECTION 3. In addition to the bingo taxes levied under the
provisions of Section 12-21-3440(B) of the 1976 Code, and beginning
July 1, 1991, and ending June 30, 2006, an additional one dollar is
levied for each bingo player a session for sessions conducted by holders
of a Class AA license and an additional fifty cents is levied for each
bingo player a session for sessions conducted by holders of a Class B
license. The revenues generated by the imposition of these additional
taxes levied under the provisions of this section must be deposited in the
general fund of the State, to be used for partial payment of principal and
interest payments for Capital Improvement Bond issues.
SECTION 4. Except as is provided otherwise, this act takes effect
upon approval by the Governor.
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