A bill

to amend the South Carolina Code of Laws by amending Section 11-50-30, relating to the South Carolina Rural Infrastructure Authority, so as to direct the authority to provide staff support and assistance for the South Carolina Infrastructure Facilities Authority and the South Carolina Water Quality Revolving Fund Authority; and by repealing Section 1-11-25 relating to the Local Government Division.

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

SECTION 1.Section 11-50-30 of the S.C. Code is amended to read:

Section 11-50-30.(A) There is created a body corporate and politic and an instrumentality of the State to be known as the South Carolina Rural Infrastructure Authority.

(B) The authority is governed by a board of directors as provided in this chapter.

(C) The corporate purpose of the authority is to select and assist in financing qualified rural infrastructure by providing loans and other financial assistance to municipalities, counties, special purpose and public service districts, and public works commissions for constructing and improving rural infrastructure facilities. The exercise by the authority of a power conferred in this chapter is an essential public function.

(D) The authority shall establish and maintain the South Carolina Rural Infrastructure Fund into which monies for the purposes of the authority must be deposited.

(E)The authority's Division of Local Government shall provide staff support and assistance for the South Carolina Infrastructure Facilities Authority as established in Chapter 40, Title 11 and the South Carolina Water Quality Revolving Fund Authority as established in Chapter 5, Title 48.

SECTION 2.Section 1-11-25 of the S.C. Code is repealed.

SECTION 3.This act takes effect upon approval by the Governor.

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