H*4916(Rat #0523, Act #0389 of 1998)  General Bill, By Boan
 A BILL TO AMEND SECTION 4-35-30, CODE OF LAWS OF SOUTH CAROLINA, 1976,
 RELATING TO DEFINITIONS FOR PURPOSES OF THE PUBLIC WORKS IMPROVEMENT ACT, SO
 AS TO FURTHER DEFINE "IMPROVEMENTS" TO INCLUDE RECREATIONAL AND OTHER
 FACILITIES FOR PUBLIC USE AND CERTAIN OTHER FACILITIES DESIGNATED AS PUBLIC
 WORKS OR A SYSTEM OF RELATED PROJECTS ELIGIBLE FOR REVENUE BOND FINANCING, TO
 EXCLUDE CONSIDERATION OF IMPROVEMENTS FROM "ASSESSMENT" FOR PURPOSES OF THE
 ACT, TO MAKE THE ASSESSMENT PERMANENT ABSENT A PROVISION IN THE IMPROVEMENT
 PLAN ALLOWING REASSESSMENT UPON LATER SUBDIVISION AND TRANSFER OF REAL
 PROPERTY AND TO DEFINE "GOVERNING BODY" AS THE GOVERNING BODY OF A COUNTY; TO
 AMEND SECTION 4-35-40, RELATING TO FINANCING OF IMPROVEMENTS, SO AS TO PROVIDE
 FOR REVENUE BONDS OF THE COUNTY AS A FINANCING MECHANISM; TO AMEND SECTION
 4-35-50, RELATING TO FINDINGS REQUIRED FOR ESTABLISHMENT OF AN IMPROVEMENT
 DISTRICT, SO AS TO INCLUDE AN ALTERNATIVE FINDING OF PROMOTION OF PROPERTY
 DEVELOPMENT AND IMPROVEMENT OF PROPERTY VALUES; AND TO AMEND SECTION 4-35-80,
 RELATING TO FINANCING OF IMPROVEMENTS, SO AS TO INCLUDE REVENUE BONDS OF THE
 COUNTY AND TO PROVIDE THAT ASSESSMENTS CONSTITUTE REVENUES OF THE SYSTEM FOR
 PURPOSES OF CHAPTER 21, TITLE 6, THE REVENUE BOND ACT FOR UTILITIES.-AMENDED
 TITLE

   03/31/98  House  Introduced and read first time HJ-9
   03/31/98  House  Referred to Committee on Ways and Means HJ-9
   05/12/98  House  Recalled from Committee on Ways and Means HJ-25
   05/13/98  House  Amended HJ-24
   05/13/98  House  Read second time HJ-24
   05/14/98  House  Read third time and sent to Senate HJ-20
   05/19/98  Senate Introduced and read first time SJ-12
   05/19/98  Senate Referred to Committee on Finance SJ-12
   06/03/98  Senate Recalled from Committee on Finance
   06/03/98  Senate Read second time
   06/03/98  Senate Ordered to third reading with notice of amendments
   06/04/98  Senate Read third time and enrolled SJ-30
   06/10/98         Ratified R 523
   06/15/98         Signed By Governor
   06/15/98         Effective date 06/25/98
   06/25/98         Copies available
   06/30/98         Act No. 389

AN ACT TO AMEND SECTION 4-35-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE PUBLIC WORKS IMPROVEMENT ACT, SO AS TO FURTHER DEFINE IMPROVEMENTS TO INCLUDE RECREATIONAL AND OTHER FACILITIES FOR PUBLIC USE AND CERTAIN OTHER FACILITIES DESIGNATED AS PUBLIC WORKS OR A SYSTEM OF RELATED PROJECTS ELIGIBLE FOR REVENUE BOND FINANCING, TO EXCLUDE CONSIDERATION OF IMPROVEMENTS FROM "ASSESSMENT" FOR PURPOSES OF THE ACT, TO MAKE THE ASSESSMENT PERMANENT ABSENT A PROVISION IN THE IMPROVEMENT PLAN ALLOWING REASSESSMENT UPON LATER SUBDIVISION AND TRANSFER OF REAL PROPERTY, AND TO DEFINE "GOVERNING BODY" AS THE GOVERNING BODY OF A COUNTY; TO AMEND SECTION 4-35-40, RELATING TO FINANCING OF IMPROVEMENTS, SO AS TO PROVIDE FOR REVENUE BONDS OF THE COUNTY AS A FINANCING MECHANISM; TO AMEND SECTION 4-35-50, RELATING TO FINDINGS REQUIRED FOR ESTABLISHMENT OF AN IMPROVEMENT DISTRICT, SO AS TO INCLUDE AN ALTERNATIVE FINDING OF PROMOTION OF PROPERTY DEVELOPMENT AND IMPROVEMENT OF PROPERTY VALUES; AND TO AMEND SECTION 4-35-80, RELATING TO FINANCING OF IMPROVEMENTS, SO AS TO INCLUDE REVENUE BONDS OF THE COUNTY AND TO PROVIDE THAT ASSESSMENTS CONSTITUTE REVENUES OF THE SYSTEM FOR PURPOSES OF CHAPTER 21, TITLE 6, THE REVENUE BOND ACT FOR UTILITIES.

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

Definitions changed

SECTION 1. Section 4-35-30(1) and (2) of the 1976 Code, as added by Act 99 of 1993, are amended to read:

"(1) 'Assessment' means an assessment voluntarily agreed upon by a majority of the owners of real property within an improvement district and representing at least sixty-six percent of the assessed value of all real property within the improvement district. The assessment must be made upon all real property located within the district, other than property constituting improvements within the meaning of this section, and based upon assessed value, front footage, area, per parcel basis, the value of improvements to be constructed within the district, or a combination of them, as the basis is determined by the governing body of the county. An assessment imposed upon real property with the consent of the owner remains valid and enforceable in accordance with the provisions of this chapter even if there is a later subdivision and transfer of the property or a part of it. An improvement plan may provide for a change in the basis of assessment upon the subdivision and transfer of real property.

(2) 'Improvements' means recreational facilities, pedestrian facilities, sidewalks, storm drains, or water course facilities or improvements, the relocation, construction, widening, and paving of roads and streets, any building or other facilities for public use, any public works eligible for financing pursuant to Section 6-21-50, and may include the acquisition of necessary easements and land and all things incidental to the provision of the above. These improvements may be designated by the governing body as public works eligible for revenue bond financing pursuant to Section 6-21-50, and the improvements, taken in the aggregate, may be designated by the governing body as a 'system' of related projects within the meaning of Section 6-21-15."

Revenue bonds of county as financing mechanism

SECTION 2. Section 4-35-40 of the 1976 Code, as added by Act 99 of 1993, is amended to read:

"Section 4-35-40. The governing body is authorized to acquire, own, construct, establish, enlarge, improve, expand, operate, maintain and repair, and sell, lease, and otherwise dispose of an improvement and to finance the acquisition, construction, establishment, enlargement, improvement, expansion, operation, maintenance and repair, in whole or in part, by the imposition of assessments in accordance with this chapter and through the issuance of special district bonds, general obligation bonds of the county, or revenue bonds of the county, from general revenues from any source not restricted from that use by law, or by a combination of the funding sources."

Alternative findings

SECTION 3. Section 4-35-50 of the 1976 Code, as added by Act 99 of 1993, is amended to read:

"Section 4-35-50. (A) If the governing body finds that (1) improvements may be beneficial within a designated improvement district, (2) the improvements may preserve property values within the district, (3) in the absence of the improvements, property values within the area would likely depreciate, (4) it would be fair and equitable to finance all or part of the cost of the improvements by an assessment upon the real property located within the district, and (5) written consent for the creation of the improvement district from a majority of the owners of real property within the district and having an aggregate assessed value in excess of sixty-six percent of the assessed value of all real property within the improvement district has been obtained, the governing body may establish the area as an improvement district and implement and finance, in whole or in part, an improvement plan in the district in accordance with the provisions of this chapter.

(B) Instead of items (A)(2) and (A)(3), the governing body may find that the improvements are likely significantly to improve property values within the district by promoting the development of the property."

Assessments constitute revenues; etc.

SECTION 4. Section 4-35-80 of the 1976 Code, as added by Act 99 of 1993, is amended to read:

"Section 4-35-80. The governing body may provide by the resolution for the payment of the cost of the improvements and facilities to be constructed within the improvement district by assessments on the property as defined in Section 4-35-30, by the issuance of special district bonds, revenue bonds, or general obligation bonds of the county, from general revenues from a source not restricted from that use by law, or from a combination of the financing sources as may be provided in the improvement plan. The governing body may use the provisions of Chapter 21, Title 6 to issue revenue bonds, and any assessments authorized by this chapter are revenues of the system for that purpose."

"Governing body" defined

SECTION 5. Section 4-35-30 of the 1976 Code, as added by Act 99 of 1993, is amended by adding an appropriately numbered item to read:

"( ) 'Governing body' means the governing body of a county."

Time effective

SECTION 6. This act takes effect upon approval by the Governor.

Approved the 15th day of June, 1998.