H 4420 General Bill, By Finlay, Huggins, W. Newton and Fry
 A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION
 58-33-282 SO AS TO PROHIBIT A UTILITY THAT EMPLOYS THE BASE LOAD REVIEW ACT'S
 ABANDONMENT PROCEDURES FROM GIVING OR AWARDING TO AN OFFICER OR A "C-SUITE" OR
 "C-LEVEL" EXECUTIVE A SEVERANCE PACKAGE WITH A VALUE OR WORTH THAT EXCEEDS THE
 LARGEST SEVERANCE PACKAGE GIVEN OR AWARDED TO AN EMPLOYEE OR INDEPENDENT
 CONTRACTOR TERMINATED AS A RESULT OF THE UTILITY'S ABANDONMENT.

   11/09/17  House  Prefiled
   11/09/17  House  Referred to Committee on Judiciary
   01/09/18  House  Introduced and read first time (House Journal-page 104)
   01/09/18  House  Referred to Committee on Judiciary
                     (House Journal-page 104)

H. 4420

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 58-33-282 SO AS TO PROHIBIT A UTILITY THAT EMPLOYS THE BASE LOAD REVIEW ACT'S ABANDONMENT PROCEDURES FROM GIVING OR AWARDING TO AN OFFICER OR A "C-SUITE" OR "C-LEVEL" EXECUTIVE A SEVERANCE PACKAGE WITH A VALUE OR WORTH THAT EXCEEDS THE LARGEST SEVERANCE PACKAGE GIVEN OR AWARDED TO AN EMPLOYEE OR INDEPENDENT CONTRACTOR TERMINATED AS A RESULT OF THE UTILITY'S ABANDONMENT.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Article 4, Chapter 33, Title 58 of the 1976 Code is amended by adding:

"Section 58-33-282.    Notwithstanding another provision of law, a utility that employs the abandonment procedures pursuant to this article may not give or award to an officer or a 'C-suite' or 'C-level' executive a severance package with a value or worth that exceeds the largest severance package given or awarded to an employee or independent contractor terminated as a result of the utility's abandonment."

SECTION    2.    This act takes effect upon approval by the Governor.