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TO AMEND SECTION 6-1-1060, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICATION OF IMPACT FEES THAT EXISTED BEFORE 1999, SO AS TO ALLOW FOR THE USE OF REVENUES FROM ANY IMPACT FEES TO PAY DOWN INDEBTEDNESS FOR SYSTEM IMPROVEMENTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 6-1-1060 of the 1976 Code is amended by adding an appropriately lettered subsection to read:
"( ) Notwithstanding any other provision of this article, any governmental entity or school district that had an existing law to which this section applied, may use the revenues from any impact fee imposed pursuant to this article to pay down indebtedness associated with system improvements made under any such imposition. A governmental entity may not prevent any such school district from using the revenues to pay down such indebtedness."
SECTION 2. This act takes effect upon approval by the Governor.
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