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Current Status Bill Number:View additional legislative information at the LPITS web site.4350 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20010827 Primary Sponsor:Loftis All Sponsors:Loftis, Koon, Knotts, Littlejohn, Altman, Barfield, Dantzler, Davenport, Edge, Fleming, Frye, Hamilton, Keegan, Kelley, Kirsh, Leach, Merrill, Perry, Quinn, Rice, Robinson, Scarborough, Sharpe, Simrill, F.N. Smith, J.R. Smith, W.D. Smith, Stille, Taylor, Tripp, Vaughn and Witherspoon Drafted Document Number:l:\council\bills\dka\4576mm01.doc Companion Bill Number:782 Residing Body:House Current Committee:Judiciary Committee 25 HJ Subject:General obligation bonds, successor-in- interest with associate of state, political subdivision, school district operates History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 20010827 Companion Bill No. 782 House 20010827 Introduced, read first time, 25 HJ referred to Committee Versions of This Bill
TO AMEND SECTIONS 11-27-30, 11-27-40, AND 11-27-50, ALL AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EFFECT OF ARTICLE X OF THE SOUTH CAROLINA CONSTITUTION ON BONDS OF THE STATE, POLITICAL SUBDIVISIONS OF THE STATE, AND SCHOOL DISTRICTS, RESPECTIVELY, SO AS TO DEEM A COMPLETE OR PARTIAL SUCCESSOR-IN-INTEREST TO, OR OTHER TRANSFEREE OF, OR OTHER ASSOCIATE OF THE STATE, A POLITICAL SUBDIVISION, OR A SCHOOL DISTRICT TO BE THE STATE, POLITICAL SUBDIVISION, OR SCHOOL DISTRICT FOR BONDING PURPOSES WHEN THE SUCCESSOR, TRANSFEREE, OR ASSOCIATE UNDERTAKES ALL OR A PORTION OF THE OPERATION OR ASSUMES ALL OR A PORTION OF A DUTY OF THE STATE, POLITICAL SUBDIVISION, OR SCHOOL DISTRICT.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 11-27-30 of the 1976 Code, as last amended by Act 27 of 2001, is further amended by adding an item at the end to read:
"9. For purposes of this section, a complete or partial successor-in-interest to, or other transferee of, the State or other associate of any kind of the State is deemed to be the State when the successor, transferee, or associate undertakes all or a portion of the operation or assumes all or a portion of a duty of the State."
SECTION 2. Section 11-27-40 of the 1976 Code, as last amended by Act 113 of 1999, is further amended by adding an item at the end to read:
"10. For purposes of this section, a complete or partial successor-in-interest to, or other transferee of, the political subdivision of the State or other associate of any kind of the political subdivision of the State is deemed to be the political subdivision of the State when the successor, transferee, or associate undertakes all or a portion of the operation or assumes all or a portion of a duty of the political subdivision of the State."
SECTION 3. Section 11-27-50 of the 1976 Code, as last amended by Act 113 of 1999, is further amended by adding an item at the end to read:
"8. For purposes of this section, a complete or partial successor-in-interest to, or other transferee of, the school district or other associate of any kind of the school district is deemed to be the school district when the successor, transferee, or associate undertakes all or a portion of the operation or assumes all or a portion of a duty of the school district."
SECTION 4. This act takes effect upon approval by the Governor.
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