Bill 2858

                    Current Status

Bill Number:               2858
Ratification Number:       296
Act Number:                196
Introducing Body:          House
Subject:                        Industrial development projects and
                           definitions

(A196, R296, H2858)

AN ACT TO AMEND SECTION 4-29-10, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INDUSTRIAL DEVELOPMENT PROJECTS AND DEFINITIONS, SO AS TO PROVIDE A NEW DEFINITION FOR THE TERM "PROJECT"; AND TO REQUIRE THAT AFTER JANUARY 1, 1986, BEFORE ANY PROJECT MAY BE PURCHASED OR LEASED FOR THE PURPOSE OF PROVIDING A PROJECT UNDER THIS ACT, THE PLAN FOR THE PURCHASE OR LEASE MUST BE SUBMITTED TO THE APPLICABLE COUNCIL OF GOVERNMENTS FOR THE PREPARATION OF A FEASIBILITY REPORT, PROVIDE FOR THE CONTENTS OF THIS REPORT, AND REQUIRE THIS REPORT TO BE SUBMITTED TO THE GOVERNING BODY AT LEAST THIRTY DAYS PRIOR TO THE EXECUTION OF THE FINAL PURCHASE OR LEASE ARRANGEMENT.

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

Findings

SECTION 1. The General Assembly finds that:

(a) Recent changes in federal funding for facilities for providing water and wastewater treatment have made it necessary that cities, counties, special purpose districts, and others providing water and wastewater treatment services find alternative means of financing or obtaining these facilities.

(b) Under certain circumstances it may be possible for private persons or corporations to acquire and construct these facilities for the purpose of providing services to public agencies at costs below those which these agencies would incur by financing these facilities themselves.

(c) The ability of private persons or corporations to provide these facilities and services would be enhanced by the availability of tax-exempt financing for these facilities.

(d) The provision of these facilities serves a public purpose.

Definition

SECTION 2. Item (3) of Section 4-29-10 of the 1976 Code, as last amended by Act 479 of 1984, is further amended to read:

"(3) 'Project' means any land and any buildings and other improvements on the land including, without limiting the generality of the foregoing, water, sewage treatment and disposal facilities, air pollution control facilities, and all other machinery, apparatus, equipment, office facilities and furnishing which are considered necessary, suitable, or useful by the following or any combination thereof: (a) any enterprise for the manufacturing, processing, or assembling of any agricultural or manufactured products; (b) any commercial enterprise engaged in storing, warehousing, distributing, transporting, or selling products of agriculture, mining, or industry, or engaged in providing laundry services to hospitals, to convalescent homes, or to medical treatment facilities of any type, public or private, within or outside of the issuing county or incorporated municipality and within or outside of the State; (c) any enterprise for research in connection with any of the foregoing or for the purpose of developing new products or new processes or improving existing products or processes; (d) any enterprise engaged in commercial business, including, but not limited to, wholesale, retail, or other mercantile establishments; office buildings; computer centers; tourism, sports, and recreational facilities; convention and trade show facilities; and public lodging and restaurant facilities if the primary purpose is to provide service in connection with another facility qualifying under this subitem; and (e) any enlargement, improvement, or expansion of any existing facility in subitems (a), (b), (c), and (d) of this item. The term project does not include facilities for an enterprise primarily engaged in the sale or distribution to the public of electricity, gas, or telephone services. A project may be located in one or more counties or incorporated municipalities. The term 'project' also includes any structure, building, machinery, system, land, interest in land, water right, or other property necessary or desirable to provide facilities to be owned and operated by any person, firm, or corporation for the purpose of providing drinking water, water, or wastewater treatment services or facilities to any public body, agency, political subdivision, or special purpose district."

Plan must be submitted

SECTION 3. After January 1, 1986, before any project may be purchased or leased from any municipality, county, agency, political subdivision, or special purpose district for the purpose of providing a project hereunder, the plan for the purchase or lease must be submitted to the applicable council of governments for the preparation of a feasibility report which shall include the fiscal impact of the proposed action on the taxpayers of each taxing authority affected by the project. The report must be submitted to the governing body of the municipality, county, agency, political subdivision or special purpose district at least thirty days prior to the execution of the final purchase or lease arrangement.

Time effective

SECTION 4. This act shall take effect upon approval by the Governor.