(Doc Name COUNCIL\DG\4950C051.BBM.DG18.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, $12,500,000 to the Department of Education
for teacher hiring incentives and bonuses, $12,500,000 to the
Department of Corrections for correctional officer hiring
incentives and bonuses, $13,360,642 to the Department of
Corrections for Critical Security Upgrades including, but not
limited to, installation of additional security measures for
window frames and glazing, opaque glazing, food flaps, cuff
ports and door locks for inmate cells, housing units and
correctional facilities, $10,000,000 to Aid to Subdivisions -
State Treasurer for the Local Government Fund, and $5,000,000 to
the Department of Parks, Recreation and Tourism for the
International African-American Museum in Charleston County.
Also, the Treasurer shall utilize $14,078,993 to provide a
one-time rebate to each utility customer subject to the
additional fee authorized by the Base Load Review Act who is
also eligible for Medicaid. The Treasurer shall establish a
process by which the rebate is awarded, but the amount of the
rebate must be the same for each customer. 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.