Reference is to Printer's Date 6/4/13-S.
Amend the bill, as and if amended, by adding the following appropriately numbered SECTION:
/ SECTION __. Article 1, Chapter 43, Title 11 of the 1976 Code is amended by adding:
"Section 11-43-165. Each fiscal year, the South Carolina Department of Transportation shall transfer up to and not exceeding fifty million dollars from non-tax sources to the South Carolina Transportation Infrastructure Bank (SIB). The department may transfer the total amount in one lump sum or it may transfer the amount quarterly in four equal installments. The general fund revenue appropriated to the department for 'Highway Engineering Permanent Improvements' in the annual general appropriations act is exempt from any across-the-board reductions. The transferred funds must be used by the SIB solely to finance the maintenance, rehabilitation, expansion, and improvements of existing mainline interstates and state-owned highways and bridges. The department shall submit a list approved by the Department of Transportation Commission in accordance with Act 114 of 2007 of projects programmed in the Statewide Transportation Improvement Program (STIP), or the state program contained in Section 57-1-370(C)(1), or both. The SIB Board shall only expend these funds on projects meeting the above criteria and having received Joint Bond Review Committee approval. /
Renumber sections to conform.
Amend title to conform.