South Carolina General Assembly
117th Session, 2007-2008

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Bill 1429

Indicates Matter Stricken
Indicates New Matter

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

Indicates Matter Stricken

Indicates New Matter

AMENDED

May 29, 2008

S. 1429

Introduced by Senator Elliott

S. Printed 5/29/08--S.

Read the first time May 28, 2008.

            

A BILL

TO AMEND SECTION 6-21-180, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ACCEPTANCE OF FEDERAL LOANS AND GRANTS UNDER THE REVENUE BOND ACT FOR UTILITIES, SO AS TO PERMIT MORTGAGES TO FEDERAL AGENCIES IN CERTAIN CIRCUMSTANCES.

Amend Title To Conform

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

SECTION    1.    Under the revenue bond act for utilities in the case of a special purpose district providing hospital, nursing home, or care facilities in a county with more than fourteen million dollars in accommodations tax collections for the most recent fiscal year, the special purpose district is authorized to provide a mortgage on any real or personal property to secure its bonds or loan by any federal agency or guarantee if the federal agency provides a guarantee of any such loan securing the bonds."

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

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