South Carolina General Assembly
112th Session, 1997-1998

Bill 4021

Indicates Matter Stricken
Indicates New Matter 

                    Current Status

Bill Number:                       4021
Type of Legislation:               General Bill GB
Introducing Body:                  House
Introduced Date:                   19970410
Primary Sponsor:                   Boan 
All Sponsors:                      Boan 
Drafted Document Number:           pt\1168sd.97
Residing Body:                     House
Current Committee:                 Ways and Means Committee 30
                                   HWM
Subject:                           Colleges and universities,
                                   institution bonds, maximum amount of
                                   outstanding bonds increased; Bonds
                                   or Notes
History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________
House   19970514  Recommitted to Committee                 30 HWM
House   19970430  Debate adjourned until
                  Thursday, 19970501
House   19970430  Request for debate by Representative             Young-
                                                                   Brickell
                                                                   H. Brown
                                                                   Lanford
                                                                   R. Smith
                                                                   Woodrum
House   19970430  Objection by Representative                      Kirsh
                                                                   Walker
                                                                   Rice
                                                                   Littlejohn
                                                                   Davenport
House   19970429  Objection by Representative                      Tripp
House   19970424  Committee report: Favorable with         30 HWM
                  amendment
House   19970410  Introduced, read first time,             30 HWM
                  referred to Committee
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

COMMITTEE REPORT

April 24, 1997

H. 4021

Introduced by Rep. Boan

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

Read the first time April 10, 1997.

THE COMMITTEE ON WAYS AND MEANS

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

REPORT:

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.

STATEMENT OF ESTIMATED FISCAL IMPACT

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

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.

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.

-----XX-----