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Bill 3445

                    Current Status

Bill Number:                      3445
Ratification Number:              81
Act Number:                       40
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  19990203
Primary Sponsor:                  Keegan
All Sponsors:                     Keegan, Carnell, H. Brown, Harrell, 
                                  Quinn, Knotts
Drafted Document Number:          l:\council\bills\dka\3111htc99.doc
Companion Bill Number:            447
Date Bill Passed both Bodies:     19990428
Date of Last Amendment:           19990420
Governor's Action:                S
Date of Governor's Action:        19990601
Subject:                          Colleges and Universities, institution 
                                  bonds; over all debt limit on repealed; Bonds 
                                  or Notes


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
------  19990618  Act No. A40
------  19990601  Signed by Governor
------  19990526  Ratified R81
House   19990428  Concurred in Senate amendment, 
                  enrolled for ratification
Senate  19990421  Read third time, returned to House
                  with amendment
Senate  19990420  Read second time, ordered to
                  third reading with notice of
                  general amendments
Senate  19990420  Committee amendment adopted
Senate  19990415  Committee report: Favorable with       04 SED
                  amendment
Senate  19990217  Introduced, read first time,           04 SED
                  referred to Committee
House   19990216  Read third time, sent to Senate
House   19990211  Read second time
House   19990211  Co-Sponsor added (Rule 5.2) by Rep.            Knotts
House   19990210  Debate adjourned until
                  Thursday, 19990211
House   19990204  Recalled from Committee                30 HWM
House   19990203  Introduced, read first time,           30 HWM
                  referred to Committee


                             Versions of This Bill
Revised on February 4, 1999 - Word format
Revised on April 15, 1999 - Word format
Revised on April 20, 1999 - Word format

(A40, R81, H3445)

AN ACT TO AMEND SECTION 59-107-90, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ONE HUNDRED TWENTY MILLION DOLLAR OVER ALL DEBT LIMIT ON STATE INSTITUTION BONDS, SO AS TO REPEAL THE LIMIT AND PROVIDE THAT THE MAXIMUM AMOUNT OF ANNUAL DEBT SERVICE ON ALL OUTSTANDING STATE INSTITUTION BONDS FOR EACH STATE INSTITUTION SHALL NOT EXCEED NINETY PERCENT OF THE SUMS RECEIVED BY SUCH STATE INSTITUTION.

Be it enacted by the General Assembly of the State of South Carolina:

State institution bonds

SECTION 1. Section 59-107-90 of the 1976 Code, as last amended by Act 419 of 1998, is further amended to read:

"Section 59-107-90. The maximum amount of annual debt service on all outstanding state institution bonds for each state institution shall not exceed ninety percent of the sums received by such state institution from tuition fees for the preceding fiscal year, as provided in Section 13(6)(b) of Article X of the South Carolina Constitution."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Ratified the 26th day of May, 1999.

Approved the 1st day of June, 1999.

This web page was last updated on Wednesday, December 9, 2009 at 9:14 A.M.