(Doc Name COUNCIL\AHB\4950C002.BBM.AHB18.DOCX):
EXPLANATION:
Amend the bill, as and if amended, Part IB, Section 112, DEBT
SERVICE, page 458, paragraph 112.1, lines 11-14, BY STRIKING THE
PROVISO IN ITS ENTIRETY AND INSERTING:
/ 112.1. (DS: Excess
Debt Service) The State Treasurer shall transfer, from
debt service that exceeds the principal and interest due in the
current fiscal year, $5,000,000 TO The Department of Parks,
Recreation, and Tourism for the International African-American
Museum in Charleston County. Any additional excess debt
service funds from available in
Fiscal Year 2016-17 2018-19
must may be carried
forward and expended in Fiscal Year 2017-18
expended in the fiscal year to pay down general
obligation bond debt for which the State (1) is paying the
highest rate of interest, (2) will achieve relief in constrained
debt capacity, or (3) reduce the amount of debt issued.
/
Renumber sections to conform.
Amend totals and titles to conform.