South Carolina General Assembly
120th Session, 2013-2014

Download This Bill in Microsoft Word format

Indicates Matter Stricken
Indicates New Matter

H. 3015

STATUS INFORMATION

General Bill
Sponsors: Reps. Clemmons, Sellers, Bernstein, G.R. Smith and Putnam
Document Path: l:\council\bills\nl\13010dg13.docx

Introduced in the House on January 8, 2013
Currently residing in the House Committee on Ways and Means

Summary: Authorized investments of political subdivisions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/11/2012  House   Prefiled
  12/11/2012  House   Referred to Committee on Ways and Means
    1/8/2013  House   Introduced and read first time (House Journal-page 44)
    1/8/2013  House   Referred to Committee on Ways and Means 
                        (House Journal-page 44)
    1/9/2013  House   Member(s) request name added as sponsor: Putnam

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/11/2012

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

A BILL

TO AMEND SECTION 6-5-10, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO AUTHORIZED INVESTMENTS OF POLITICAL SUBDIVISIONS, SO AS TO AUTHORIZE INVESTMENT IN OBLIGATIONS OF AN ISRAELI CORPORATION, THE STATE OF ISRAEL, OR A POLITICAL SUBDIVISION OF THE STATE OF ISRAEL, SO LONG AS THE OBLIGATION IS DENOMINATED IN UNITED STATES DOLLARS AND BEAR AN INVESTMENT GRADE RATING OF AT LEAST TWO NATIONALLY RECOGNIZED RATING SERVICES.

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

SECTION    1.    Section 6-5-10(a) of the 1976 Code, as last amended by Act 116 of 2007, is further amended by adding an appropriately numbered item at the end to read:

"( )    Obligations of an Israeli corporation, the State of Israel, or a political subdivision of the State of Israel, so long as the obligation is denominated in United States dollars and bear an investment grade rating of at least two nationally recognized rating services."

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

----XX----

This web page was last updated on Thursday, February 28, 2013 at 3:21 P.M.