Download This Bill in Microsoft Word format
Current Status Bill Number:View additional legislative information at the LPITS web site.3748 Ratification Number:161 Act Number:89 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19990317 Primary Sponsor:Walker All Sponsors:Walker, Allison, Davenport, Lee, Littlejohn and D. Smith Drafted Document Number:l:\council\bills\kgh\15298htc99.doc Date Bill Passed both Bodies:19990602 Date of Last Amendment:19990601 Governor's Action:S Date of Governor's Action:19990611 Subject:Property, lease purchase or financing agreement, constitutional debt limits, Energy conservation, State Government History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ ------ 19990702 Act No. A89 ------ 19990611 Signed by Governor ------ 19990609 Ratified R161 House 19990602 Concurred in Senate amendment, enrolled for ratification Senate 19990601 Amended, read third time, returned to House with amendment Senate 19990512 Amended, read second time, ordered to third reading with notice of general amendments Senate 19990511 Recalled from Committee, 06 SF placed on the Calendar Senate 19990429 Introduced, read first time, 06 SF referred to Committee House 19990428 Read third time, sent to Senate House 19990427 Amended, read second time House 19990422 Committee report: Favorable with 30 HWM amendment House 19990317 Introduced, read first time, 30 HWM referred to Committee Versions of This Bill Revised on April 22, 1999 - Word format Revised on April 27, 1999 - Word format Revised on May 11, 1999 - Word format Revised on May 12, 1999 - Word format Revised on June 1, 1999 - Word format
(A89, R161, H3748)
AN ACT TO AMEND SECTION 11-27-110, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LEASE PURCHASE OR FINANCING AGREEMENTS BEING SUBJECT TO APPLICABLE CONSTITUTIONAL DEBT LIMITATIONS, SO AS TO CONFORM THE TREATMENT OF A LEASE PURCHASE AGREEMENT FOR ENERGY EFFICIENCY PRODUCTS AND A GUARANTEED ENERGY SAVINGS CONTRACT IN THE CALCULATION OF THE DEBT LIMIT TO THE PROVISIONS OF THE SECTION SPECIFICALLY EXCLUDING THEM FROM THOSE TYPES OF AGREEMENTS SUBJECT TO THE DEBT LIMIT, TO ADD CERTAIN LOAN AGREEMENTS FOR CONSERVATION MEASURES TO THESE EXCLUSIONS AND PROVIDE THAT THESE AGREEMENTS OR CONTRACTS DO NOT CONSTITUTE ANY AGREEMENT TO PROVIDE RETAIL SALES OF ENERGY, AND TO MAKE TECHNICAL REFERENCE CHANGES; AND TO AMEND SECTIONS 48-52-650 AND 48-52-660, RELATING TO STATE GOVERNMENT ENERGY CONSERVATION, SO AS TO ALLOW POLITICAL SUBDIVISIONS OF THE STATE TO PARTICIPATE IN THE REVOLVING LOAN FUND OF THE STATE ENERGY OFFICE AND AUTHORIZE POLITICAL SUBDIVISIONS TO ENTER INTO LEASE PURCHASE AGREEMENTS FOR MORE THAN ONE YEAR WITH VENDORS OF ENERGY EFFICIENCY PRODUCTS AND UTILITY COMPANIES.
Be it enacted by the General Assembly of the State of South Carolina:
Debt limitation, exemptions
SECTION 1. Subsections (B) and (C) of Section 11-27-110 of the 1976 Code are amended to read:
"(B) A governmental entity described in subsection (A) (8)(b) of this section may not enter into a financing agreement, other than an enterprise financing agreement, a loan agreement for energy conservation measures as provided for in Section 48-52-650, a lease purchase agreement for energy efficiency products as provided for in Section 48-52-660, or a guaranteed energy savings contract as provided for in Section 48-52-670, where no such lease agreement or contract shall constitute in any manner an agreement, consent, authority, or otherwise, to provide retail sales of energy by an energy or power provider or creates the authority to sell or provide retail energy or power, if the principal balance of the financing agreement, when added to the principal amount of limited bonded indebtedness outstanding on the date of execution of the financing agreement exceeds eight percent of the assessed value of taxable property in the jurisdiction of the governmental entity unless the financing agreement is approved by a majority of the electors voting on the agreement in a referendum duly called for this purpose by the governmental entity.
(C) If a governmental entity described in subsection (A) (8)(b) of this section has outstanding any financing agreement, other than an enterprise financing agreement, a loan agreement for energy conservation measures as provided for in Section 48-52-650, or a lease purchase agreement for energy efficiency products as provided in Section 48-52-660, or a guaranteed energy savings contract as provided in Section 48-52-670, where no such lease agreement or contract shall constitute in any manner an agreement, consent, authority, or otherwise, to provide retail sales of energy by an energy or power provider or creates the authority to sell or provide retail energy or power, on the date of issuance of any limited bonded indebtedness pursuant to any bond act, the amount of this limited bonded indebtedness plus the amount of all other limited bonded indebtedness of the governmental entity, when added to the principal balance under any financing agreement or agreements of the governmental entity must not exceed the amount of the governmental entity's constitutional debt limit unless this bonded indebtedness is approved by a majority of the electors voting on the bonded indebtedness in a referendum duly called for this purpose by the governmental entity. This requirement applies notwithstanding any other provision of any bond act and is in addition to the terms and conditions specified in any bond act."
Revolving fund participation
SECTION 2. Section 48-52-650 of the 1976 Code, as added by Act 449 of 1992, is amended to read:
"Section 48-52-650. The State Energy Office shall establish a mechanism for a revolving loan fund for state agencies and political subdivisions of the State to use for energy conservation measures. Repayment may be from the savings in the entity's utility budget."
Lease purchase for energy conservation
SECTION 3. Section 48-52-660(A)of the 1976 Code, as added by Act 449 of 1992, is amended to read:
"(A) A state agency or political subdivision of the State may enter into lease purchase agreements for a duration of more than one year with vendors of energy efficiency products and utility companies. No funds disclaimer clause as provided for in Section 11-35-2030 is required in these contracts. Repayment is allowed from savings on the entity's budget."
Time effective
SECTION 4. This act takes effect upon approval by the Governor.
Ratified the 9th day of June, 1999.
Approved the 11th day of June, 1999.
This web page was last updated on Wednesday, December 9, 2009 at 9:24 A.M.