Current Status Bill Number:4578 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19960207 Primary Sponsor:McAbee All Sponsors:McAbee and Carnell Drafted Document Number:gjk\22298htc.96 Residing Body:House Current Committee:Ways and Means Committee 30 HWM Subject:Capital improvement bonds, higher education institutions
Body Date Action Description Com Leg Involved
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House 19960207 Introduced, read first time, 30 HWM
referred to Committee
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TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO THE ISSUANCE OF STATE CAPITAL IMPROVEMENT BONDS, SO AS TO DELETE THE PROVISION DENYING ACCESS TO THE CONTINGENCY REVOLVING FUND MAINTAINED BY THE STATE BUDGET AND CONTROL BOARD TO INSTITUTIONS OF HIGHER EDUCATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The first proviso following the total line of subitem 2A of item (f) of Section 31 of Act 1377 of 1968, as last amended by Act 538 of 1986, is further amended to read:
"Provided that, in making the above authorization, it is the intent of the General Assembly to provide the funding needed to establish a revolving fund to be used to finance emergency permanent improvement repair and replacement projects. Agency proposals for using these funds must be submitted to the Budget and Control Board and to the Joint Bond Review Committee simultaneously. The board shall promptly consider and forward its recommendations on each request to the Joint Bond Review Committee. No request may be recommended for approval by the board and no request may be approved by the Joint Bond Review Committee unless both the board and the committee shall have unanimously determined that the repair and/or replacement project for which funding is requested in a bona fide emergency which the requested funds, together with any other available funds, can address effectively. No institution of higher education, the Neither the Department of Mental Health, or nor the Department of Mental Retardation may request funds from this account."
SECTION 2. This act takes effect upon approval by the Governor.