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Indicates Matter Stricken
Indicates New Matter
Indicates Matter Stricken
Indicates New Matter
COMMITTEE REPORT
March 12, 2003
S. 34
S. Printed 3/12/03--S.
Read the first time January 14, 2003.
To whom was referred a Bill (S. 34) to amend the Code of Laws of South Carolina, 1976, by adding Section 30-4-55 so as to provide that a public body or person or entity acting on behalf of the public body, etc., respectfully
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 all after the enacting words and inserting therein the following:
/ SECTION 1. Chapter 4, Title 30 of the 1976 Code is amended by adding:
"Section 30-4-55. A public body as defined by Section 30-4-20(a), or a person or entity employed by or authorized to act for or on behalf of a public body, that undertakes to attract business or industry to invest or locate in South Carolina by offering incentives that require the expenditure of public funds or the transfer of anything of value or that reduce the rate or alter the method of taxation of the business or industry or that otherwise impact the offeror fiscally, must disclose, upon request, the fiscal impact of the offer on the public body and a governmental entity affected by the offer after:
(a) the offered incentive or expenditure is accepted, and
(b) the project has been publicly announced or any incentive agreement has been finalized, whichever occurs later.
The fiscal impact disclosure must include a cost-benefit analysis that compares the anticipated public cost of the commitments with the anticipated public benefits. Notwithstanding the requirements of this section, information that is otherwise exempt from disclosure under Section 30-4-40(a)(1), (a)(5)(c), and (a)(9) remains exempt from disclosure."
SECTION 2. Section 30-4-40(a)(1) of the 1976 Code is amended to read:
"(1) Trade secrets, which are defined as unpatented, secret, commercially valuable plans, appliances, formulas, or processes, which are used for the making, preparing, compounding, treating, or processing of articles or materials which are trade commodities obtained from a person and which are generally recognized as confidential; and work products, in whole or in part collected or produced for sale or resale, and paid subscriber information. Trade secrets also include, for those public bodies who market services or products in competition with others, feasibility, planning, and marketing studies, marine terminal service and non-tariff agreements, and evaluations and other materials which contain references to potential customers, competitive information, or evaluation."
SECTION 3. Section 30-4-40(a)(9) of the 1976 Code is amended to read:
"(9) Memoranda, correspondence, documents, and working papers relative to efforts or activities of a public body and of a person or entity employed by or authorized to act for or on behalf of a public body to attract business or industry to invest within South Carolina.; however, an incentive agreement made with an industry or business: (1) requiring the expenditure of public funds or the transfer of anything of value, (2) reducing the rate or altering the method of taxation of the business or industry, or (3) otherwise impacting the offeror fiscally, is not exempt from disclosure after:
(a) the offer to attract an industry or business to invest or locate in the offeror's jurisdiction is accepted by the industry or business to whom the offer was made; and
(b) the public announcement of the project or finalization of any incentive agreement, whichever occurs later."
SECTION 4. This act takes effect upon approval by the Governor. /
Renumber sections to conform.
Amend title to conform.
JAMES H. RITCHIE, JR. for Committee.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 30-4-55 SO AS TO PROVIDE THAT A PUBLIC BODY OR PERSON OR ENTITY ACTING ON BEHALF OF THE PUBLIC BODY THAT OFFERS CERTAIN INCENTIVES TO ATTRACT A BUSINESS OR INDUSTRY TO INVEST IN SOUTH CAROLINA SHALL DISCLOSE THE FISCAL IMPACT OF THE OFFER ON THE PUBLIC BODY OR OTHER GOVERNMENTAL ENTITY AT THE TIME THE OFFER IS ACCEPTED OR REJECTED, AND TO PRESCRIBE THE SUBSTANCE OF THE FISCAL IMPACT DISCLOSURE; AND TO AMEND SECTION 30-4-40, AS AMENDED, RELATING TO MATTERS EXEMPT FROM DISCLOSURE UNDER THE FREEDOM OF INFORMATION ACT, SO AS TO PROVIDE THAT MEMORANDA, CORRESPONDENCE, AND DOCUMENTS RELATING TO AN OFFER MADE TO AN INDUSTRY OR BUSINESS OF INCENTIVES THAT REQUIRE THE EXPENDITURE OF PUBLIC FUNDS OR THE TRANSFER OF ANYTHING OF VALUE OR THAT REDUCE THE RATE OR ALTER THE METHOD OF TAXATION OF THE BUSINESS OR INDUSTRY OR OTHERWISE IMPACT THE OFFEROR FISCALLY ARE NOT EXEMPT FROM DISCLOSURE AFTER THE OFFER IS ACCEPTED OR REJECTED BY THE INDUSTRY OR BUSINESS TO WHOM THE OFFER WAS MADE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 4, Title 30 of the 1976 Code is amended by adding:
"Section 30-4-55. A public body as defined by Section 30-4-20(a), or a person or entity employed by or authorized to act for or on behalf of a public body, that undertakes to attract business or industry to invest or locate in South Carolina by offering incentives that require the expenditure of public funds or the transfer of anything of value or that reduce the rate or alter the method of taxation of the business or industry or that otherwise impact the offeror fiscally shall disclose at the time an offer is accepted or rejected the fiscal impact of the offer on the public body and a governmental entity affected by the offer. The fiscal impact disclosure must reveal the cost or the current value of the transfer or the difference between tax revenue that would have been collected in the absence of the incentives and the taxes or fees to be collected under the offer."
SECTION 2. Section 30-4-40(a)(9) of the 1976 Code is amended to read:
"(9) Memoranda, correspondence, documents, and working papers relative to efforts or activities of a public body and of a person or entity employed by or authorized to act for or on behalf of a public body to attract business or industry to invest within South Carolina.; except that, memoranda, correspondence, and documents relating to an offer of incentives made to an industry or business requiring the expenditure of public funds, or the transfer of anything of value or reducing the rate or altering the method of taxation of the business or industry or otherwise impacting the offeror fiscally are not exempt from disclosure after the offer to attract an industry or business to invest or locate in this State is accepted or rejected by the industry or business to whom the offer was made."
SECTION 3. This act takes effect upon approval by the Governor.
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