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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 44-56-497 SO AS TO PROVIDE THAT AN OWNER OR OPERATOR OF A DRYCLEANING FACILITY MAY, FOR VALID REASONS, OPT OUT OF COVERAGE UNDER THE DRYCLEANING FACILITY RESTORATION TRUST FUND; TO REQUIRE THE FACILITY TO HAVE BEEN SOLD IN AN ARMS LENGTH TRANSACTION SUBSEQUENT TO WITHDRAWING FROM THE TRUST FUND IN ORDER TO REREGISTER FOR COVERAGE UNDER THE FUND, AND TO PROVIDE THAT FEES PAID INTO THE TRUST FUND ARE NONREFUNDABLE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 4, Chapter 36, Title 44 of the 1976 Code is amended by adding:
"Section 44-56-497. (A) Notwithstanding any other provision of this article, the department may direct the Department of Revenue to allow a person, owner, or operator of a drycleaning facility that has previously registered for coverage under this article to elect to opt out of the provisions of this article, based on valid reasons as determined by the department.
(B) In order to reregister into the program, the drycleaning facility must be sold in an arms length transaction, which would allow the new owner to come under the provisions of this article.
(C) Fees that have been paid by a person, owner, or operator that is opting out of the provisions of this article may not be refunded."
SECTION 2. This act takes effect upon approval by the Governor.
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