Bill Text: SC H4810 | 2013-2014 | 120th General Assembly | Introduced
Bill Title: Forest Renewal Fund
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-02-27 - Referred to Committee on Ways and Means [H4810 Detail]
Download: South_Carolina-2013-H4810-Introduced.html
A BILL
TO AMEND SECTION 48-28-100, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FOREST RENEWAL FUND, SO AS TO ALLOW THE GENERAL ASSEMBLY TO APPROPRIATE FUNDING IN ANY AMOUNT TO THE FOREST RENEWAL FUND AND TO LIMIT THE ASSESSMENTS AGAINST PRIMARY FOREST PRODUCT PROCESSORS TO EIGHT HUNDRED THOUSAND DOLLARS OR FIVE TIMES THE STATE APPROPRIATION, WHICHEVER IS LESS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 48-28-100 of the 1976 Code is amended to read:
"Section 48-28-100. (A) There is created in the commission the forest renewal fund for which fiscal management and responsibility is vested in the state forester.
(B) The fund shall be is the depository for all revenue derived from the forest development renewal assessment on primary forest product processors as authorized by the General Assembly and for any funds appropriated specifically for the forest renewal program from the general fund. State-appropriated funds remaining in the forest renewal fund at the end of any a fiscal year shall revert to the general fund. Revenues derived from the forest renewal assessment shall do not revert but shall remain in the forest renewal fund until expended under pursuant to the provisions of this chapter.
(C) In any a fiscal year, new funding agreements from the forest renewal fund assessments pursuant to this section are limited to eight hundred thousand dollars or five times the amount of the state appropriation for to the forest renewal law fund for that year, whichever is less, plus the amount of any cancellation or slippage funds from previous agreements. Whenever necessary to comply with the terms of a contract, payments forest renewal assessments in a fiscal year may exceed five times the amount of the state appropriation for that year.
(D) In any a fiscal year, expenditures from the forest renewal fund shall be are limited to five times the amount of the state appropriation for the Forest Renewal Law to the forest renewal fund for that year.
(E) In any a fiscal year, no more than five percent of the available funds generated by the Primary Forest Products Assessment Law, pursuant to Chapter 30 of this title, shall may be used for program support under pursuant to the provisions of Section 48-28-40.
(F) Funds used for the purchase of equipment under pursuant to the provisions of Section 48-28-40 shall be are limited to state appropriations to the forest renewal fund designated specifically for equipment purchase.
(G) The commission shall serve as the disbursing agency for funds expended from and deposited in the forest renewal fund."
SECTION 2. This act takes effect upon approval by the Governor.
