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A409, R299, S836

STATUS INFORMATION

General Bill
Sponsors: Senator Moore
Document Path: l:\council\bills\nbd\11800ac05.doc

Introduced in the Senate on May 11, 2005
Introduced in the House on May 17, 2005
Last Amended on May 11, 2006
Passed by the General Assembly on May 17, 2006
Became law without Governor's signature, May 25, 2006

Summary: Clark's-Hill Russell Authority

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   5/11/2005  Senate  Introduced, read first time, placed on local & 
                        uncontested calendar SJ-12
   5/11/2005  Senate  Unanimous consent for second and third readings on next 
                        two consecutive legislative days SJ-12
   5/12/2005  Senate  Read second time SJ-37
   5/12/2005          Scrivener's error corrected
   5/13/2005  Senate  Read third time and sent to House SJ-1
   5/17/2005  House   Introduced and read first time HJ-6
   5/17/2005  House   Referred to Committee on Ways and Means HJ-7
   5/10/2006  House   Committee report: Favorable with amendment Ways and 
                        Means HJ-3
   5/11/2006  House   Amended HJ-20
   5/11/2006  House   Read second time HJ-20
   5/11/2006  House   Unanimous consent for third reading on next legislative 
                        day HJ-20
   5/12/2006  House   Read third time and returned to Senate with amendments 
                        HJ-2
   5/17/2006  Senate  Concurred in House amendment and enrolled SJ-45
   5/18/2006          Ratified R 299
   5/25/2006          Became law without Governor's signature
   5/31/2006          Copies available
   5/31/2006          Effective date 05/25/06
  10/17/2006          Act No. 409

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

5/11/2005
5/11/2005-A
5/12/2005
5/10/2006
5/11/2006

(A409, R299, S836)

AN ACT TO AMEND JOINT RESOLUTION 210 OF 1987, RELATING TO THE PURCHASE OF NOTES OF THE CLARK'S-HILL RUSSELL AUTHORITY BY THE DIVISION OF GENERAL SERVICES OF THE STATE BUDGET AND CONTROL BOARD AND THE INTEREST RATE ON THESE NOTES, SO AS TO CORRECT THE NAME OF THE AUTHORITY TO THE DIVISION OF SAVANNAH VALLEY DEVELOPMENT AND TO PROVIDE THAT THE INTEREST RATE MUST BE DETERMINED PERIODICALLY BY THE STATE TREASURER, RATHER THAN SET AT A RATE OF EIGHT PERCENT PER YEAR.

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

Division of Savannah Valley Development; notes and interest rates thereon

SECTION    1.    Section 1 of Joint Resolution 210 of 1987 is amended to read:

"SECTION    1.    The Division of General Services of the State Budget and Control Board through the Insurance Reserve Fund and the State Treasurer shall purchase not more than twenty million dollars of notes of the Division of Savannah Valley Development in amounts not exceeding three million five hundred thousand dollars in any one year for the purpose prescribed in Article 5, Chapter 1, Title 13 of the 1976 Code. The notes of the authority must bear interest at a rate of interest to be determined periodically by the State Treasurer and must be repaid over a term not exceeding thirty years from the date of issuance of a respective series of notes."

Time effective

SECTION    2.    This act takes effect upon approval by the Governor.

Ratified the 18th day of May, 2006.

Became law without the signature of the Governor -- 5/25/06.

This web page was last updated on Friday, December 4, 2009 at 3:32 P.M.