View Amendment Current Amendment: 4 to Bill 4100

Senators CLIMER, HARPOOTLIAN and GOLDFINCH propose the following amendment (4100R015.SP.WC.DOCX):

Amend the bill, as and if amended, Part IB, Section 50, DEPARTMENT OF COMMERCE, page 407, after line 4, by adding an appropriately numbered new proviso to read:

/ 50.__.(CMRC: Coordinating Council Incentives) For the current fiscal year, the SC Coordinating Council for Economic Development is prohibited from granting extensions and from modifying or otherwise waiving or forgiving conditions under which companies were awarded incentives or credits. At the expiration of incentives authorized by the coordinating council, the coordinating council may make recommendations to the State Fiscal Accountability Authority regarding whether a credit should be extended, repaid, modified, waived, or forgiven. The State Fiscal Accountability Authority shall be responsible for making determinations regarding extensions, repayments, modifications, waivers, or forgiveness for credits or incentives authorized by the coordinating council and must make all determinations under the provisions of this section in a public meeting. Any economic development funds returned to the State shall be deposited in the General Fund of the State for future use. /

Amend sections, totals and title to conform.