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S. 115
STATUS INFORMATION
Joint Resolution
Sponsors: Senators Leventis, Elliott, Knotts and Fair
Document Path: l:\council\bills\swb\5040cm07.doc
Introduced in the Senate on January 9, 2007
Currently residing in the Senate Committee on Labor, Commerce and Industry
Summary: Petroleum pricing
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/6/2006 Senate Prefiled
12/6/2006 Senate Referred to Committee on Labor, Commerce and Industry
1/9/2007 Senate Introduced and read first time SJ-75
1/9/2007 Senate Referred to Committee on Labor, Commerce and Industry
SJ-75
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO CREATE A COMMITTEE TO STUDY THE PRICING OF PETROLEUM PRODUCTS BY AND BUSINESS PRACTICES OF THE NATION'S MAJOR OIL COMPANIES, TO PROVIDE FOR THE STUDY COMMITTEE'S MEMBERSHIP, AND TO REQUIRE THAT THE STUDY COMMITTEE REPORT ITS FINDINGS AND RECOMMENDATIONS TO THE GENERAL ASSEMBLY BEFORE MARCH 1, 2008, AT WHICH TIME THE STUDY COMMITTEE IS ABOLISHED.
Whereas, over the past year the price of gasoline at the retail pumps has increased by as much as fifty cents per gallon; and
Whereas, in the small State of South Carolina at the price of two dollars per gallon for gasoline this costs our state's citizens approximately six billion dollars per year; and
Whereas, during the past year the increase of fifty cents per gallon has cost South Carolina consumers one and one-half billion dollars; and
Whereas, the cost of gasoline is taking dollars out of South Carolina that are desperately needed to build highways or improve the state's economy; and
Whereas, it is imperative that the General Assembly commit its resources to investigate and determine whether pricing of petroleum products by and business practices of the nation's major oil companies are fair and equitable. Now, therefore,
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. (A) There is created a committee to study the pricing of petroleum products by and business practices of the nation's major oil companies and report to the General Assembly its findings on whether their pricing methods and business practices are fair and in the best interests of both the consuming public and the petroleum industry.
(B) The committee is composed of the following members who shall serve without compensation;
(1) one person appointed by the President Pro Tempore of the Senate;
(2) one person appointed by the Senate Majority Leader;
(3) two persons appointed by the Senate Minority Leader;
(4) one person appointed by the Speaker of the House of Representatives;
(5) one person appointed by the House of Representatives Majority Leader; and
(6) two persons appointed by the House of Representatives Minority Leader.
(C) The members of the committee shall serve until their successors are appointed and qualify or the committee is dissolved. Vacancies on the committee must be filled in the manner of the original appointment and for the remainder of the unexpired term. The members of the committee shall appoint a chairman.
(D) The staffing for the committee must be provided by the appropriate committees of the Senate and House of Representatives that oversee the practices of businesses and industry in the State.
(E) The committee, in the discharge of its duties, is authorized to issue subpoenas and subpoenas duces tecum, to compel the attendance of witnesses and production of documents, books, papers, correspondence, memoranda, and other relevant records to its study.
(F) The committee must render its report and recommendations to the General Assembly before March 1, 2008, at which time it is dissolved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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