South Carolina House Bill 3125 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 13 2009 - 25% progression, died in committee
Action: 2009-01-13 - Referred to Committee on Ways and Means HJ-57
Pending: House Ways and Means Committee

A BILL TO AMEND CHAPTER 146, TITLE 59, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE STATE SCHOOL FACILITIES BOND ACT, BY ADDING SECTION 59-146-55 SO AS TO PROVIDE THAT BEGINNING WITH FISCAL YEAR 2009-2010 AND CONTINUING FOR A PERIOD OF FOUR FISCAL YEARS THEREAFTER, AN ADDITIONAL THREE HUNDRED MILLION DOLLARS IN SCHOOL FACILITIES BONDS MAY BE ISSUED OVER THIS FIVE YEAR PERIOD, AND TO PROVIDE THAT THESE BONDS MUST BE ALLOCATED TO SCHOOL DISTRICTS BASED ON A FORMULA WHICH GIVES PRIORITY CONSIDERATION TO DISTRICTS WITH HIGHER PERCENTAGES OF STUDENTS ELIGIBLE FOR FREE OR REDUCED PRICED LUNCHES, THE RELATIVE FINANCIAL ABILITY OF A DISTRICT TO FUND NEW SCHOOL FACILITIES OR IMPROVE EXISTING FACILITIES, AND REMAINING CAPACITY OF A DISTRICT TO ISSUE ADDITIONAL CAPITAL IMPROVEMENT BONDS; AND TO AMEND TITLE 59, BY ADDING CHAPTER 75 SO AS TO ENACT THE "SOUTH CAROLINA SCHOOL FACILITIES INFRASTRUCTURE ACT", TO ESTABLISH THE SOUTH CAROLINA SCHOOL FACILITIES INFRASTRUCTURE AUTHORITY, AND TO PROVIDE FOR ITS GOVERNANCE, POWERS, AND DUTIES; TO AUTHORIZE THE AUTHORITY TO PROVIDE LOANS AND OTHER FINANCIAL ASSISTANCE TO SCHOOL DISTRICTS TO FINANCE SCHOOL FACILITIES; TO ALLOW STATE APPROPRIATIONS, GRANTS, LOAN REPAYMENTS, AND OTHER AVAILABLE AMOUNTS TO BE CREDITED TO THE FUND OF THE AUTHORITY; TO AUTHORIZE LENDING TO AND BORROWING BY SCHOOL DISTRICTS THROUGH THE AUTHORITY; AND TO AUTHORIZE THE ISSUANCE OF GENERAL OBLIGATION BONDS BY THE AUTHORITY TO BE USED FOR ITS STATED PURPOSES.

Enact The "south Carolina School Facilities Infrastructure Act", To Establish The South Carolina School Facilities Infrastructure Authority, And To Provide For Its Governance, Powers, And Duties; To Authorize The Authority To Provide Loans And Other Financial Assistance To School Districts To Finance School Facilities; To Allow State Appropriations, Grants, Loan Repayments, And Other Available Amounts To Be Credited To The Fund Of The Authority; To Authorize Lending To And Borrowing By School Districts Through The Authority; And To Authorize The Issuance Of General Obligation Bonds By The Authority To Be Used For Its Stated Purposes.

Rep. Gilda Cobb-Hunter [D]

Date	Chamber	Action
2009-01-13		Referred to Committee on Ways and Means HJ-57
2009-01-13		Introduced and read first time HJ-57
2008-12-16		Referred to Committee on Ways and Means
2008-12-16		Prefiled

S0143 (Similar To) 2009-01-13 - Referred to Committee on Education SJ-140
H3586 (Similar To) 2009-02-26 - Member(s) request name added as sponsor: Hutto

Chapter	Article	Section	Citation Type	Statute Text
59	146	55	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/cgi-bin/web_bh10.exe?bill1=3125&session=118