South Carolina General Assembly
115th Session, 2003-2004

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Bill 4901

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

COMMITTEE REPORT

April 22, 2004

H. 4901

Introduced by Reps. Ceips, Rivers, Gilham, Herbkersman and Lloyd

S. Printed 4/22/04--H.

Read the first time March 4, 2004.

            

THE COMMITTEE ON WAYS AND MEANS

To whom was referred a Bill (H. 4901) to amend Chapter 3, Title 54, Code of Laws of South Carolina, 1976, by adding Section 54-3-700, so as to provide that the State Ports Authority, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass with amendment:

Amend the bill, as and if amended, Section 54-3-700, SECTION 1, by sstriking subsection (D) in its entirety and inserting:

/ (D)    Any real or personal property at Port Royal which is to be sold must be first appraised and then sold at fair market value. The real property appraiser must be a State Certified General Real Estate Appraiser, an MAI, and must be knowledgeable in appraisal and in appraising marine terminal facilities. The appraisal of the real property should include its future development opportunities and those of the surrounding properties. The sale of the real property shall comply with all state procedures, must be approved by the Budget and Control Board, must be on an open-bid basis, and no bid may be accepted which is less than the property's fair market value as shown by the appraisal. All proceeds from the sale of real and personal property at Port Royal must be retained by the State Ports Authority; provided, however, that the Town of Port Royal shall have the right to petition the Budget and Control Board for a portion of the net proceeds from any sale and may be allocated a portion of these net proceeds in an amount not to exceed five percent of the net proceeds upon showing the allocation is necessary to pay for infrastructure needs directly associated with and necessitated by the closing of the port as Port Royal. These funds must be expended at the direction of the Town Council of Port Royal with the approval of the Budget and Control Board, solely for the infrastructure, and shall have priority over all other expenditures except usual and necessary closing costs attributable to any sales contracts. /

Renumber sections to conform.

Amend title to conform.

ROBERT W. HARRELL, JR. for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

ESTIMATED FISCAL IMPACT ON GENERAL FUND EXPENDITURES:

$0 (No additional expenditures or savings are expected)

ESTIMATED FISCAL IMPACT ON FEDERAL & OTHER FUND EXPENDITURES:

$0 (No additional expenditures or savings are expected)

EXPLANATION OF IMPACT:

The state general fund does not currently underwrite from the operations of the Port Royal marine terminal. Since none of the proceeds from the sale of the marine terminal at Port Royal would accrue to the state, there is no fiscal impact on the state general fund.

Approved By:

Don Addy

Office of State Budget

A BILL

TO AMEND CHAPTER 3, TITLE 54, CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 54-3-700, SO AS TO PROVIDE THAT THE STATE PORTS AUTHORITY IS NOT REQUIRED TO OPERATE A MARINE TERMINAL AT PORT ROYAL, AND TO PROVIDE FOR THE CESSATION OF TERMINAL OPERATIONS, THE SALE OF PROPERTY AT FAIR MARKET VALUE, AND FOR THE DISPOSITION OF THE PROCEEDS FROM THE SALE OF THE PROPERTY.

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

SECTION    1.    Chapter 3, Title 54, of the 1976 Code is amended by adding:

"Section 54-3-700.    (A)    Upon the effective date of this section:

(1)    the State Ports Authority has no statutory responsibility to operate a marine terminal at Port Royal; and

(2)    marine operations at Port Royal shall cease as soon as practicable.

(B)    The State Ports Authority is hereby directed to sell all its real and personal property at Port Royal upon the effective date of this section, but in a manner that is financially responsible and advantageous to the State Ports Authority.

(C)    The State Ports Authority shall, in its discretion, determine the manner of the sale, but in no event shall terms of the sale extend beyond December 31, 2006, except for parcels which may be under long-term contract, in which case the South Carolina Ports Authority is directed to terminate such leases as soon as possible through 'lease purchases,' 'buy outs,' or any other lawful means.

(D)    Any real or personal property at Port Royal which is to be sold shall first be appraised and then sold at fair market value. All proceeds from the sale of real and personal property at Port Royal shall be retained by the State Ports Authority of which two million dollars must be expended in the town of Port Royal for economic development and infrastructure needs necessitated by the closing of Port Royal. These funds must be expended at the direction of the Town Council of Port Royal with the approval of the Budget and Control Board and shall have priority over all other expenditures except usual and necessary closing costs attributable to any sales contracts."

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

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