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S. 1010
STATUS INFORMATION
General Bill
Sponsors: Senators Verdin, Cromer, McConnell, L. Martin, S. Martin, Knotts, Ryberg, Campbell, Grooms, Bryant, Davis, Shoopman, Campsen, Peeler, Bright, Fair, Rose, Thomas, Cleary, Gregory, O'Dell, Alexander, Massey and Hayes
Document Path: l:\s-res\dbv\002gobo.kmm.dbv.docx
Companion/Similar bill(s): 1058
Introduced in the Senate on January 10, 2012
Currently residing in the Senate Committee on Education
Summary: School districts prohibited from issuing general obligation bonds for general operating expenses
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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11/28/2011 Senate Prefiled
11/28/2011 Senate Referred to Committee on Education
1/10/2012 Senate Introduced and read first time (Senate Journal-page 11)
1/10/2012 Senate Referred to Committee on Education
(Senate Journal-page 11)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND CHAPTER 71, TITLE 59 OF THE 1976 CODE, RELATING TO SCHOOL BONDS, BY ADDING SECTION 59-71-35 TO PROHIBIT SCHOOL DISTRICTS FROM ISSUING GENERAL OBLIGATION BONDS FOR GENERAL OPERATING EXPENSES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 71, Title 59 of the 1976 Code is amended by adding:
"Section 59-71-35. The authorities of any operating school unit may not issue general obligation bonds of the operating school unit for the purpose of defraying costs associated with the general operations of the operating school unit."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Tuesday, December 10, 2013 at 10:06 A.M.