Current Status Bill Number:1099 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19960206 Primary Sponsor:Ford All Sponsors:Ford Drafted Document Number:RES9848.rf Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:State property, referendum required to sell, value of
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
Senate 19960206 Introduced, read first time, 06 SF
referred to Committee
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TO AMEND CHAPTER 1, TITLE 10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO PUBLIC BUILDINGS AND PROPERTY, BY ADDING SECTION 10-1-210 SO AS TO PROVIDE THAT NO TRANSACTION INVOLVING PROPERTY OWNED BY OR TITLED IN THE NAME OF THE STATE OF SOUTH CAROLINA OR A STATE AGENCY IS ALLOWED BETWEEN A STATE AGENCY AND A PRIVATE ENTITY IF IN THE AGGREGATE THE PROPERTY IS TWENTY-FIVE MILLION DOLLARS OR MORE IN VALUE, UNLESS APPROVED BY A MAJORITY OF VOTERS VOTING IN A STATEWIDE REFERENDUM; AND TO PROVIDE DEFINITIONS OF "PRIVATE ENTITY", "STATE AGENCY", AND "TRANSACTION."
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 1, Title 10 of the 1976 Code is amended by adding:
"Section 10-1-210. (A) No transaction involving property owned by or titled in the name of the State of South Carolina or a state agency is allowed between a state agency and a private entity if in the aggregate the property is twenty-five million dollars or more in value, unless approved by a majority of voters voting in a statewide referendum.
(B) For purposes of this section:
(1) `Private entity' means an individual, sole proprietorship, partnership, trust, corporation, nonprofit corporation, joint stock company, firm, or an association, but does not include a state agency as defined in subsection (2) of this section, or an agency or department of the United States.
(2) `State agency' means an officer, department, board, commission, institution, university, college, body politic and corporate of the State, and any other person or administrative division of state government or corporate outgrowth of state government expending or encumbering state funds by virtue of an appropriation from the General Assembly, but does not mean counties.
(3) `Transaction' includes, but is not limited to, the sale, lease, transfer, rental, use, agreement for the management or operation or other disposition of real or personal property, in whole or in part.
(C) The provisions of this section shall apply to:
(1) a single transaction; or
(2) two or more transactions during a twelve-month period in which the aggregate value of the property involved is twenty-five million dollars or more between a state agency and:
(a) the same private entity;
(b) an assignee of a private entity which acquired state real or personal property from a private entity which acquired the property from the state agency; or
(c) a member of a controlled group of corporations, as defined in Internal Revenue Code Section 267, if another member of the controlled group acquired property from the agency during the twelve-month period.
(D) No real or personal property may be sold, leased, or otherwise valued at less than its fair market value for the purpose of avoiding the provisions of this section.
(E)(1) Whenever a transaction subject to this section is proposed, the state agency having control over the property involved must notify the State Election Commission, which must conduct a referendum on the question of whether the transaction shall be approved. The referendum shall be held on the twelfth Tuesday after notification is received by the commission. If the date for a referendum falls on a state holiday, it must be set for the next succeeding Tuesday. For purposes of this section, state holiday does not mean the general election day. If the date for a referendum is within three months prior to a general election, the referendum must be held at the time of the general election.
(2) The State Election Commission shall conduct the referendum under the election laws of this State, mutatis mutandis, and shall certify the result no later than sixty days after the date of the referendum to the appropriate state agency.
(3) The question placed on the ballot must read substantially as follows:
`Shall the transaction between (name or private entity) and (name of state agency or department) involving the (description of transaction, i.e. sale, lease, etc.) of state (real and/or personal) located at (location of property) property valued at (value of property, in dollars) be approved?
All qualified electors desiring to vote in favor of the transaction shall vote `yes' and all qualified electors opposed to the transaction shall vote `no'.'
(4) If a majority of qualified electors vote `yes', the transaction may be completed when the results of the election are certified by the state election commission. If a majority of qualified voters vote `no' on the question, the transaction shall not be effected."
SECTION 2. This act takes effect upon approval by the Governor. Any transaction between a state agency and a private entity for which negotiations were commenced prior to the effective date of this act but for which there is no final disposition on or before the effective date of this act is subject to the provisions of this act.