View Amendment Current Amendment: 81 to Bill 4100

Senator SETZLER proposes the following amendment (AGM QUASI-STATE AGENCIES):

Amend the bill, as and if amended, Part IB, Section 117, GENERAL PROVISIONS, page 538, after line 28, by adding an appropriately numbered new proviso to read:

/ (GP: Quasi-State Agency Reports) (A)For purposes of this section:

(1) 'JBRC' means the Joint Bond Review Committee.

(2)'Committee' or 'committees' means the Senate Finance Committee and the House Ways and Means Committee.

(3)'Quasi -state agency' includes: the Charleston Naval Complex Redevelopment Authority, the Myrtle Beach Air Force Base Redevelopment Authority, the Patriots Point Development Authority, the South Carolina Education Assistance Authority, the South Carolina State Housing Finance and Development Authority, the South Carolina Jobs-Economic Development Authority, the South Carolina Lottery Commission, the South Carolina Public Railways, the South Carolina Public Service Authority, the South Carolina Research Authority, the South Carolina State Ports Authority, and the South Carolina Transportation Infrastructure Bank.

(B)The Senate Finance Committee and the House Ways and Means Committee shall review and provide fiscal accountability of quasi-state agencies no less frequently than every two years. The committees shall provide a report with findings to the Senate Legislative Oversight Committee and the House Legislative Oversight Committee.

(1) Every two years, or as often as requested by either committee, each agency must submit to the committees:

(a)annual audited financial statements;

(b)projected and actual annual revenue;

(c)actual annual expenditures;

(d)any debt issuances in the previous five years, whether short -term or long-term;

(e)percent of annual revenues utilized for administration. For purposes of this item, 'administration' includes executive level employees compensation and other operating costs;

(f)organizational flow chart displaying the position titles and name of executive -level employees;

(g)major components of any long -term capital plan, including timing and cost estimates, and financing plan for such capital investments whether paid from operations or debt;

(h)performance objectives and results;

(i) performance measurements used to evaluate program effectiveness;

(j) any outstanding litigation issues; and

(k)planning documents and progress reports, including budgeted and actual expenditures.

(2) Each quasi-state agency must post its annual audited financial report in a conspicuous place on the quasi-state agency's website and distribute the reports to members of the General Assembly.

(3)Any problems or issues of concern that arise during this oversight process may be forwarded to the State Inspector General for investigation after a vote of either committee. The Inspector General is granted the authority to complete the investigation.

(C)(1)Prior to issuing any bonds, notes, or other indebtedness, including any refinancing that does not achieve a savings in total debt service, JBRC must approve, reject, or modify the issuance by the agencies.

(2) If JBRC does not take action on the issuance within sixty days, the issuance is considered approved.

(D)(1)By June 30th of each year, each quasi-state agency shall provide an annual report regarding every transaction involving an interest in real property and executed during the preceding twelve months, including:

(a)a summary of the key terms of all contracts effectuating or related to such transactions; and

(b)parties involved in the transaction, including all entities or persons with any type of ownership interest or authority to control.

(2)A transfer of any interest in real property by a quasi-state agency, regardless of the value of the transaction, requires approval, rejection, or modification by JBRC.

(3)The reporting and other requirements of this item do not apply to encroachment agreements, rights-of-way, or lease agreements and private individuals for residential use on and near lakes in this State.

(E)JBRC, may adopt instructions which must be followed by the agencies for any submission pursuant to this provision.

(F)Any and all executive compensation and retention programs must be reviewed by the Agency Head Salary Commission. Additionally, any employment contracts or retention contracts that last longer than five years, and all contract extensions, must be reviewed by the Agency Head Salary Commission.

(G)Quasi-state agencies are a public body for purposes of the Freedom of Information Act.

(H) The requirements imposed on a quasi-state agency pursuant to this provision are in addition to any other requirements of law. /

Amend sections, totals and title to conform.