South Carolina General Assembly
117th Session, 2007-2008

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S. 976

STATUS INFORMATION

General Bill
Sponsors: Senators Courson and McConnell
Document Path: l:\s-res\jec\020revb.dag.doc
Companion/Similar bill(s): 1225, 4520

Introduced in the Senate on January 10, 2008
Currently residing in the Senate Committee on Finance

Summary: Higher education revenue bond

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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   1/10/2008  Senate  Introduced and read first time SJ-2
   1/10/2008  Senate  Referred to Committee on Finance SJ-2

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

1/10/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 59-147-30 OF THE 1976 CODE, RELATING TO ISSUANCE OF REVENUE BONDS BY UNIVERSITIES, SO AS TO CLARIFY AND FURTHER SPECIFY WHAT FACILITIES ARE ELIGIBLE TO BE FINANCED UNDER THE HIGHER EDUCATION REVENUE BOND ACT, AND TO REPEAL SECTION 59-147-120.

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

SECTION    1.    Section 59-147-30 of the 1976 Code is amended to read:

"Section 59-147-30.    Subject to the approval of the State Budget and Control Board by resolution duly adopted, the university may issue revenue bonds of the university for the purpose of financing or refinancing in whole or in part the cost of acquisition, construction, reconstruction, renovation and improvement of land, buildings, and other improvements to real property and equipment for the purpose of providing facilities serving the needs of the university including, but not limited to, dormitories, apartment buildings, dwelling houses, bookstore and other university operated stores, laundry, dining halls, cafeterias, parking facilities, student recreational, entertainment, health, and fitness related facilities, inns, conference and other nondegree educational facilities and similar auxiliary facilities, health, and educational, administrative, operations and health facilities of the university and any other facilities which are auxiliary ancillary to any of the foregoing excluding, however, athletic department projects which primarily serve varsity athletic teams of the university."

SECTION    2.    Section 59-147-120 of the 1976 Code is repealed.

SECTION    3.    This act takes effect upon approval by the Governor.

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