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TO PROVIDE THAT BEFORE THE SOUTH CAROLINA PUBLIC SERVICE AUTHORITY AND ITS ASSETS AND LIABILITIES MAY BE SOLD OR CONVEYED TO A PUBLIC OR PRIVATE ENTITY, AND BEFORE A CONTRACT FOR SALE FOR SAME MAY BE ENTERED INTO, THE DEPARTMENT OF ADMINISTRATION MUST CAUSE A FULL STUDY TO BE UNDERTAKEN IN THE TERRITORY OF THE AUTHORITY TO DETERMINE THE ECONOMIC AND OTHER IMPACTS OF THE SALE; TO PROVIDE THAT THE SALE OR CONVEYANCE OF THE PUBLIC SERVICE AUTHORITY MAY NOT BE UNDERTAKEN OR A CONTRACT FOR SUCH A SALE ENTERED INTO UNTIL THE STUDY IS COMPLETED; AND TO PROVIDE THAT THE GENERAL ASSEMBLY FURTHER PLEDGES AND COMMITS TO ENACT AND IMPLEMENT WITHOUT DELAY, BASED ON THE STUDY, MEANINGFUL ECONOMIC INCENTIVE PACKAGES FOR THOSE AREAS AND INDIVIDUALS ADVERSELY AFFECTED AS A RESULT OF A SALE IN TERMS OF JOBS LOST, ADVERSE EFFECTS ON COMMUNITIES, AND DIMINISHED PROSPECTS FOR FUTURE ECONOMIC GROWTH.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Before the South Carolina Public Service Authority and its assets and liabilities may be sold or conveyed to a public or private entity and before a contract for sale for same may be entered into, the Department of Administration must cause a full study to be undertaken in the territory of the Authority to determine the economic and other impacts of the sale, both pro and con, in the areas affected. The results of this study must be provided to the Governor, the General Assembly, and the general public upon its completion, and the sale or conveyance of the Public Service Authority may not be undertaken or a contract for such a sale entered into until the study is completed.
The General Assembly further pledges and commits by the provisions of this section to enact and implement without delay, based on the study, meaningful economic incentive packages for those areas and individuals adversely affected as a result of a sale in terms of jobs lost, adverse effects on communities, and diminished prospects for future economic growth.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
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