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S 0443 - Allows for the issuance of bonds to defray the cost of infrastructure for certain economic development projects

Tracking Level: Of Interest
Sponsor: Hugh Leatherman (R)
Last Action: 1/12/2021 - Senate - Referred to Committee on Finance
Senate Committee: Fin
Assigned To:
Economic DevelopmentNext Bill

Staff Analysis of the Legislation

01.28.2021 The Senate Finance Natural Resources and Economic Development subcommittee carried this bill over.
Summary of the bill as introduced: Allows for the issuance of bonds to defray the cost of infrastructure for certain economic development projects.

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Session 124 - (2021-2022)Printer Friendly
(pdf format)
S 0443 General Bill, By Leatherman and Alexander
Similar (H 3607)
Summary: State General Obligation Economic Development Bond Act
    A BILL TO AMEND SECTION 11-41-20, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE STATE GENERAL OBLIGATION ECONOMIC DEVELOPMENT BOND ACT, SO AS TO ALLOW FOR THE ISSUANCE OF BONDS TO DEFRAY THE COST OF INFRASTRUCTURE FOR CERTAIN ECONOMIC DEVELOPMENT PROJECTS; TO AMEND SECTION 11-41-30, RELATING TO DEFINITIONS FOR SUCH BONDS, SO AS TO INCLUDE GOVERNMENT-OWNED PROJECTS AND UNDERTAKINGS THAT SUPPORT OR PROMOTE A FOUNDATION FOR ECONOMIC GROWTH AND INDUSTRIAL DEVELOPMENT, AND TO EXPAND THE DEFINITION OF "INFRASTRUCTURE"; TO AMEND SECTIONS 11-41-50 AND 11-41-60, RELATING TO SUCH BONDS, SO AS TO MAKE A CONFORMING CHANGE; TO AMEND SECTION 11-41-70, RELATING TO BOND NOTIFICATION REQUIREMENTS, SO AS TO SPECIFY REQUIREMENTS FOR THE ISSUANCE OF BONDS FOR SUCH GOVERNMENT-OWNED PROJECTS; TO AMEND SECTION 11-41-80, RELATING TO THE RESOLUTION EFFECTING THE ISSUANCE OF SUCH BONDS, SO AS TO SPECIFY THAT THE STATE FISCAL ACCOUNTABILITY AUTHORITY SHALL ADOPT THE RESOLUTION, AND TO AMEND SECTION 11-41-90, RELATING TO THE AUTHORIZING RESOLUTION, SO AS TO MAKE A CONFORMING CHANGE.
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01/12/21Senate Introduced and read first time (Senate Journal-page 314)
01/12/21Senate Referred to Committee on Finance (Senate Journal-page 314)



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