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Bill 906

                    Current Status

Bill Number:                      906
Type of Legislation:              Joint Resolution JR
Introducing Body:                 Senate
Introduced Date:                  20020122
Primary Sponsor:                  Richardson
All Sponsors:                     Richardson, Kuhn, Ravenel, Mescher, 
                                  Leventis, Pinckney, Grooms, McConnell
Drafted Document Number:          l:\council\bills\bbm\10632htc02.doc
Residing Body:                    Senate
Current Committee:                Transportation Committee 15 ST
Subject:                          Daniel Island, proceeds from sale of 
                                  property, provisions; State Ports Authority 
                                  must receive approval of General Assembly 
                                  before spending Daniel Island funds; 
                                  contributions to State Infrastructure Bank 
                                  from Daniel Island sale proceeds, provisions


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20020122  Introduced, read first time,           15 ST
                  referred to Committee


              Versions of This Bill

DIRECTING THE SOUTH CAROLINA STATE PORTS AUTHORITY TO SELL ITS DANIEL ISLAND PROPERTY, TO ALLOW PERSONS WHOSE PROPERTY WAS ACQUIRED BY THE AUTHORITY FOR THE DANIEL ISLAND RAILWAY AND ROADWAY RIGHTS-OF-WAY FIRST REFUSAL TO REPURCHASE AT THE AUTHORITY'S PURCHASE PRICE, TO PROVIDE THAT THE REVENUE OF THESE SALES MUST BE USED FOR STATE PORT CONSTRUCTION WITH GENERAL ASSEMBLY APPROVAL REQUIRED FOR NEW PORT TERMINALS AND FOR A CONTRIBUTION TO THE SOUTH CAROLINA TRANSPORTATION INFRASTRUCTURE BANK, AND TO PROVIDE THE PAYMENT AMOUNT AND METHOD.

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

SECTION 1. The South Carolina State Ports Authority Board shall sell all state ports authority property on Daniel Island in the Charleston Harbor, and all property for a Daniel Island railway right-of-way, and all property for a Daniel Island roadway right-of-way. All persons whose property was acquired by the State Ports Authority for the Daniel Island railway right-of-way must have the right of first refusal to purchase the property which they previously owned, or was owned by a family member, at the authority's purchase price.

The proceeds of the sale of the Daniel Island properties must be distributed in the following manner:

(1) toward the state port construction fund; but all new state ports authority port terminals must receive the approval of the General Assembly before any expenditure for land purchase or construction; and

(2) a contribution to the state ports authority to the South Carolina Transportation Infrastructure Bank as provided in Section 11-43-160 of the 1976 Code in the amount of seventy-five million dollars:

(a) over twenty-five years beginning July 1, 2002, or

(b) a one-time payment by December 30, 2002, in an amount equal to the present value of subitem (a) of this item.

SECTION 2. This joint resolution takes effect upon approval by the Governor.

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