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H. 3937
STATUS INFORMATION
General Bill
Sponsors: Reps. Ott, Lucas, Anthony, Bales, R. Brown, Clark, Coates, Cobb-Hunter, Frye, Taylor and McLeod
Document Path: l:\council\bills\dka\3205dw05.doc
Introduced in the House on April 14, 2005
Currently residing in the House Committee on Ways and Means
Summary: Rural infrastructure bank trust fund created
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 4/14/2005 House Introduced and read first time HJ-46 4/14/2005 House Referred to Committee on Ways and Means HJ-46
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 1-11-30 SO AS TO CREATE THE SOUTH CAROLINA RURAL INFRASTRUCTURE BANK TRUST FUND, TO PROVIDE THAT AN ELIGIBLE APPLICANT MAY APPLY FOR A WATER OR SEWER CONSTRUCTION PROJECT, AND TO PROVIDE FOR CRITERIA FOR APPROVING A PROJECT; AND TO AMEND SECTION 12-10-85, AS AMENDED, RELATING TO THE STATE RURAL INFRASTRUCTURE FUND, SO AS TO PROVIDE THAT A MUNICIPALITY IS ELIGIBLE FOR GRANTS UNDER THE FUND, TO PROVIDE FOR THE USE OF REVENUES IN THE FUND, AND TO ADD THE OFFICE OF LOCAL GOVERNMENT AS AN ENTITY CHARGED WITH SUBMITTING A REPORT TO THE GOVERNOR AND GENERAL ASSEMBLY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 11, Title 1, of the 1976 Code is amended by adding:
"Section 1-11-30. (A) For purposes of this section:
(1) 'Eligible applicant' means a special purpose district, public service district, commission of public works, and private nonprofit water and sewer providers.
(2) 'Rural' means a county of this State and a municipality with a population of less than twenty-five thousand dollars based on the latest decennial census and any geographical area located outside a municipal boundary.
(3) 'Soft costs' includes, but are not limited to engineering, rolling stock, land acquisition, legal expenses, and force accounts.
(4) 'Sub-applicant' means a special purpose district, public service district, commission of public works, and private nonprofit water and sewer providers.
(B) There is created in the office of the State Treasurer separate and distinct from all other funds the 'South Carolina Rural Infrastructure Bank Trust Fund'. The trust fund may receive and hold revenues from any source. Earnings on the trust fund are retained in the trust fund and unexpended trust fund revenues at the end of a fiscal year are carried forward in the trust fund. The trust fund may receive revenues from any source the General Assembly may provide by law and from governmental grants. Trust fund revenues may be used only as provided in this chapter.
(C)(1) An eligible applicant and a sub-applicant, who applies through a county, may apply for water or sewer construction, or both. Funding may be spent only on construction costs and money may not be spent on soft costs.
(2) One project for each municipality is authorized at a given time, and two open projects are allowed for each county.
(3) The Director of the Office of Local Government has the authority to approve a project up to two hundred thousand dollars without Budget and Control Board approval. The Budget and Control Board may approve a project up to five hundred thousand dollars.
(4) On a project administered by the Office of Local Government, the limit approval ceiling is two hundred fifty thousand dollars.
(D) In the first two quarters of a fiscal year, only projects incorporating federal matching dollars, economic development dollars, natural disaster aid, health or environmental hazards, or both, or threats, and projects involving Department of Environmental Control consent orders may be considered. In the third and fourth quarters, eligible projects include nontraditional economic development projects that create jobs and investments using the heritage, cultural, historic, and natural resources of a rural area. All eligible projects for the third and fourth quarters must be considered on a first come, first served bases, provided that funding is available.
(E) To carry out the functions of the South Carolina Rural Infrastructure Bank Trust Fund, the Office of Local Government shall submit a report at the end of the current fiscal year to the Governor, Lieutenant Governor, and General Assembly. The report must account for trust fund and other program receipts, briefly describe grants and loans that were approved by the Office of Local Government during the fiscal year, describe recipients of trust fund grants, and contain a financial audit of the trust fund conducted by the State Auditor or an outside independent certified public accountant."
SECTION 2. Section 12-10-85 of the 1976 Code, as last amended by Act 332 of 2002, is further amended to read:
"Section 12-10-85. (A) Funds received by the department for the State Rural Infrastructure Fund must be deposited in the State Rural Infrastructure Fund of the Council. The fund must be administered by the council for the purpose of providing financial assistance to local governments for infrastructure and other economic development activities including, but not limited to:
(1) training costs and facilities;
(2) improvements to regionally planned public and private water and sewer systems;
(3) improvements to both public and private nonprofit electricity, natural gas, and telecommunications systems including, but not limited to, an electric cooperative, electrical utility, or electric supplier described in Chapter 27 of Title 58; or
(4) fixed transportation facilities including highway, rail, water, and air.
(B) Rural Infrastructure Fund grants must be available to benefit counties or municipalities designated as 'distressed' or 'least developed' as defined in Section 12-6-3360 according to guidelines established by the council, except that up to twenty-five percent of the funds annually available in excess of ten million dollars must be set aside for grants to areas of "underdeveloped", "moderately developed", and "developed" counties. A governing body of an "underdeveloped", "moderately developed", or " developed" county must apply to the council for these set-aside grants stating the reasons that certain areas of the county qualify for these grants because the conditions in that area of the county are comparable to those conditions qualifying a county as "distressed" or "least developed".
(C) For the purposes of this section, 'local government' means a county, or group of counties, or a municipality organized pursuant to Section 4-9-20(a), (b), (c), or (d).
(D) Between July first and June thirtieth of each fiscal year, any revenues in excess of twelve million dollars must be directly deposited by the Department of Revenue to the Rural Infrastructure Bank Trust Fund under the Office of Local Government and the Budget and Control Board. Any revenues in excess of seventeen million dollars revert back to the Rural Infrastructure Fund.
(E) The council and the Office of Local Government shall submit a report to the Governor and General Assembly by March fifteenth covering activities for the prior calendar year."
SECTION 3. This act takes effect upon approval by the Governor.
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