Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
S. 138
STATUS INFORMATION
General Bill
Sponsors: Senators Lourie and Fair
Document Path: l:\s-res\jl\001loca.mrh.jl.docx
Introduced in the Senate on January 8, 2013
Currently residing in the Senate Committee on Finance
Summary: Political Subdivisions
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 12/18/2012 Senate Prefiled 12/18/2012 Senate Referred to Committee on Finance 1/8/2013 Senate Introduced and read first time (Senate Journal-page 93) 1/8/2013 Senate Referred to Committee on Finance (Senate Journal-page 93)
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 6-5-10 OF THE 1976 CODE, RELATING TO ENTITIES IN WHICH LOCAL GOVERNMENT UNITS AND POLITICAL SUBDIVISIONS ARE ALLOWED TO INVEST, TO ALLOW LOCAL GOVERNMENT UNITS AND POLITICAL SUBDIVISIONS TO INVEST IN OBLIGATIONS OF A CORPORATION, STATE, OR POLITICAL SUBDIVISION DENOMINATED IN UNITED STATES DOLLARS, IF THE OBLIGATIONS BEAR AN INVESTMENT GRADE RATING OF AT LEAST TWO NATIONALLY RECOGNIZED RATING SERVICES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 6-5-10(a) of the 1976 Code is amended by adding an appropriately numbered item to read:
"(9) Obligations of a corporation, state, or political subdivision denominated in United States dollars, if the obligations bear an investment grade rating of at least two nationally recognized rating services."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on Thursday, February 28, 2013 at 3:50 P.M.