A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 58-31-205 SO AS TO AUTHORIZE THE PUBLIC SERVICE AUTHORITY TO JOINTLY OWN, AS TENANTS-IN-COMMON OR THROUGH A LIMITED LIABILITY COMPANY, WITH INVESTOR-OWNED UTILITIES, ELECTRICAL GENERATION AND TRANSMISSION FACILITIES.

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

SECTION 1.  Article 1, Chapter 31, Title 58 of the S.C. Code is amended by adding:

    Section 58-31-205. (A) The Public Service Authority shall have the power to jointly own, as tenants-in-common or through a limited liability company, with investor-owned electric utilities, electrical generation and transmission facilities, the power to plan, finance, acquire, own, operate, and maintain an interest in such plants and facilities necessary or incidental to the generation and transmission of electric power, and the power to make plans and enter into such contracts as are necessary or convenient for the planning, financing, acquisition, construction, ownership, operation, and maintenance of such plants and facilities. However, the Public Service Authority shall own a percentage of such plants and facilities equal to the percentage of the money furnished or the value of property supplied by the Public Service Authority for the acquisition and construction of the plants and facilities. The Public Service Authority shall also own and control a like percentage of the electrical output thereof.

    (B) The Public Service Authority shall be severally liable in proportion to its ownership share of such plants and facilities acquired pursuant to this section for the acts, omissions, or obligations performed, omitted, or incurred by the operator or other owners of the plants and facilities while acting as the designated agent of the Public Service Authority for the purposes of constructing, operating, or maintaining the plants and facilities, or any of them. However, the Public Service Authority shall not be otherwise liable, jointly or severally, for the acts, omissions, or obligations of other owners of the plants and facilities, nor shall any money or property of the Public Service Authority be credited or otherwise applied to the account of the operator or other owners of the plants and facilities, or be charged with any debt, lien, or mortgage as a result of any debt or obligation of the operator or other owners of the plants and facilities.

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

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