Current Status Introducing Body:House Bill Number:3309 Primary Sponsor:Rama Committee Number:30 Type of Legislation:GB Subject:Prepaid Postsecondary Education Expense Program Residing Body:House Current Committee:Ways and Means Date Tabled:Apr 23, 1991 Computer Document Number:JIC/5170.HC Introduced Date:Jan 24, 1991 Last History Body:House Last History Date:Apr 23, 1991 Last History Type:Tabled in Committee Scope of Legislation:Statewide All Sponsors:Rama Type of Legislation:General Bill
Bill Body Date Action Description CMN
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3309 House Apr 23, 1991 Tabled in Committee 30
3309 House Jan 24, 1991 Introduced, read first time, 30
referred to Committee
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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING CHAPTER 118 TO TITLE 59, SO AS TO ENACT THE SOUTH CAROLINA PREPAID POSTSECONDARY EDUCATION EXPENSE PROGRAM; TO ESTABLISH THE SOUTH CAROLINA PREPAID POSTSECONDARY EDUCATION EXPENSE BOARD TO IMPLEMENT THE PROGRAM; TO AMEND SECTION 12-7-435, AS AMENDED, RELATING TO DEDUCTIONS FROM SOUTH CAROLINA TAXABLE INCOME, SO AS TO ALLOW THE DEDUCTION OF PAYMENTS FOR AND BENEFITS FROM AN ADVANCE PAYMENT CONTRACT FOR UNIVERSITY AND COMMUNITY COLLEGE ADVANCE PAYMENT PLANS, TO REQUIRE THE BOARD TO OBTAIN RULINGS FROM THE INTERNAL REVENUE SERVICE AND THE SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO THE PROGRAM AND TO REQUIRE THE INFORMATION TO BE PROVIDED TO PARTICIPANTS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Title 59 of the 1976 Code is amended by adding:
Section 59-118-10. This chapter may be cited as the South Carolina Prepaid Postsecondary Education Expense Program.
Section 59-118-20. As used in this chapter:
(1) `Advance payment contract' means a contract entered into by the board and a purchaser pursuant to this chapter.
(2) `Board' means the South Carolina Prepaid Postsecondary Education Expense Board.
(3) `Community college' means a two-year state postsecondary institution offering an associate degree.
(4) `Fund' means the Prepaid Postsecondary Education Expense Trust Fund.
(5) `Program' means the South Carolina Prepaid Postsecondary Education Expense Program.
(6) `Purchaser' means a person who makes or is obligated to make advance registration or dormitory residence payments in accordance with an advance payment contract.
(7) `Qualified beneficiary' means:
(a) A resident of this State at the time a purchaser enters into an advance payment contract on behalf of the resident; or
(b) A nonresident who is the child of a noncustodial parent who is a resident of this State at the time that the parent enters into an advance payment contract on behalf of the child.
(8) `State postsecondary institution' means a public institution of higher learning as defined in Section 59-103-5.
(9) `Registration fee' means the semester charges imposed to attend a state postsecondary institution and all mandatory fees required as a condition for enrolling as determined by the board.
(10) `University' means a four-year state postsecondary institution which offers a baccalaureate degree.
Section 59-110-25. (A) There is created the South Carolina Prepaid Postsecondary Education Expense Program Board consisting of nine members as follows:
(1) the State Treasurer, ex officio;
(2) eight members appointed by the Governor with the advice and consent of the Senate as follows:
(a) one member nominated by the President Pro Tempore of the Senate for a term coterminous with that of the President Pro Tempore;
(b) one member nominated by the Speaker of the House of Representatives for a term coterminous with that of the Speaker of the House;
(c) one member nominated by the Council of Presidents of State Institutions of Higher Learning for a term of four years;
(d) one member nominated by the Advisory Council of Private College Presidents for a term of four years;
(e) four members who shall serve for terms of four years, one of whom must be designated chairman.
(B) Vacancies must be filed in the manner of original appointment for the unexpired portion of the term. Members shall receive the per diem, mileage, and subsistence authorized by law for members of state boards, committees, and commissions.
Section 59-118-27. The board shall appoint an executive director to serve as the chief administrative and operational officer of the board and to perform other duties assigned to him by the board.
The board has the powers necessary to carry out the provisions of this chapter, including, but not limited to, the power to:
(1) adopt an official seal and rules;
(2) sue and be sued;
(3) make and execute contracts and other necessary instruments;
(4) establish agreements or other transactions with federal, state, and local agencies, including state postsecondary institutions;
(5) invest funds not required for immediate disbursement;
(6) appear in its own behalf before boards, commissions, or other governmental agencies;
(7) hold, buy, and sell any instruments, obligations, securities, and property determined appropriate by the board;
(8) require a reasonable length of state residence for qualified beneficiaries;
(9) restrict the number of participants in the various plans. However, any person denied participation solely on the basis of the restriction must be granted priority for participation during the succeeding year.
(10) segregate contributions and payments to the fund into various accounts and funds;
(11) contract for necessary goods and services, employ necessary personnel, and engage the services of private consultants, actuaries, managers, legal counsel, and auditors for administrative or technical assistance;
(12) solicit and accept gifts, grants, loans, and other aids from any source or participate in any other way in any government program to carry out the purposes of this chapter;
(13) require and collect administrative fees and charges in connection with any transaction and impose reasonable penalties, including default, for delinquent payments or for entering into an advance payment contract on a fraudulent basis;
(14) procure insurance against any loss in connection with the property, assets, and activities of the fund or the board;
(15) impose reasonable time limits on use of the tuition benefits provided by the program. However, any such limitation must be specified within the advance payment contract;
(16) delineate the terms and conditions under which payments may be withdrawn from the fund and impose reasonable fees and charges for the withdrawal. The terms and conditions must be specified within the advance payment contract.
(17) provide for the receipt of contributions in lump sums or installment payments;
(18) establish other policies, procedures, and criteria to implement and administer the provisions of this chapter.
Section 59-118-30. (A) There is created the South Carolina Prepaid Postsecondary Education Expense Program to provide a medium through which the cost of registration and dormitory residence may be paid in advance of enrollment in a state postsecondary institution at a rate lower than the projected corresponding cost at the time of actual enrollment. These payments must be combined and invested in a manner that yields, at a minimum, sufficient interest to generate the difference between the prepaid amount and the cost of registration and dormitory residence at the time of actual enrollment. Students who enroll in a state postsecondary institution pursuant to this chapter may be charged no fees in excess of the terms delineated in the advance payment contract.
(B) The board shall administer the fund in a manner that is sufficiently actuarially sound to defray the obligations of the program. The board shall annually evaluate or cause to be evaluated the actuarial soundness of the fund. If the board perceives a need for additional assets in order to preserve actuarial soundness, the board may adjust the terms of subsequent advance payment contracts to ensure such soundness.
(C) The board, acting with the approval of the State Budget and Control Board, shall establish a comprehensive investment plan for the purposes of this chapter. The comprehensive investment plan shall specify the investment policies to be utilized by the board in its administration of the fund. The board may place assets of the fund in savings accounts or use assets to purchase fixed or variable life insurance or annuity contracts, securities, evidence of indebtedness, or other investment products pursuant to the comprehensive investment plan and in the proportions as may be designated or approved under that plan. The insurance, annuity, savings, or investment products must be underwritten and offered in compliance with the applicable federal and state laws, regulations, and rules by persons who are authorized by applicable federal and state authorities. Within the comprehensive investment plan, the board may authorize investment vehicles, or products incident to investment vehicles, as may be available or offered by qualified companies or persons.
(D) The board may delegate responsibility for administration of the comprehensive investment plan required in subsection (C) of this section to a person the board determines to be qualified. This person must be compensated by the board. Directly or through this person, the board may contract with a private corporation or institution to provide those services as may be a part of the comprehensive investment plan or as considered necessary by the board or the person, including, but not limited to, providing consolidated billing, individual and collective recordkeeping and accountings, and asset purchase, control, and safekeeping.
(E) The board shall annually prepare or cause to be prepared a report setting forth in appropriate detail an accounting of the fund and a description of the financial condition of the program at the close of each fiscal year. The report must be submitted to the President of the Senate, the Speaker of the House of Representatives, the State Budget and Control Board, and members of the Commission on Higher Education before March first of each year. In addition, the board shall make the report available to purchasers of advance payment contracts. The accounts of the fund are subject to annual audits by the State Auditor or his designee.
(F) The board shall solicit answers to applicable ruling requests from the Internal Revenue Service regarding the tax status of fees paid pursuant to an advance payment contract to the purchaser or qualified beneficiary and from the Securities and Exchange Commission regarding the application of federal securities laws to the fund. The board shall make the status of these requests known before entering into an advance payment contract.
(G) The board shall solicit proposals for the marketing of the South Carolina Prepaid Postsecondary Education Expense Program pursuant to the South Carolina Consolidated Procurement Code. The entity designated pursuant to this subsection shall serve as a centralized marketing agent for the program and is solely responsible for the marketing of the program. Any materials produced for the purpose of marketing the program must be submitted to the board for review. No materials may be made available to the public before the materials are approved by the board. Any educational institution may distribute marketing materials produced for the program; however, all the materials must have been approved by the board before distribution. Neither the State nor the board shall be liable for misrepresentation of the program by a marketing agent.
(H) The board may establish a direct-support organization which is:
(1) A South Carolina corporation, not for profit, organized under the applicable laws of this State.
(2) Organized and operated exclusively to receive, hold, invest, and administer property and to make expenditures to or for the benefit of the program.
(3) An organization which the board, after review, has certified to be operating in a manner consistent with the goals of the program and in the best interests of the State. Unless so certified, the organization may not use the name of the program.
(4) Subject to an annual postaudit by an independent certified public accountant in accordance with rules prescribed by the board. The annual audit must be submitted to the Department of Insurance and the State Auditor for review. The Department of Insurance and the State Auditor may require and receive from the organization or its independent auditor any detail or supplemental data relative to the operation of the organization. The identity of donors who desire to remain anonymous must be protected, and this anonymity must be maintained in the auditor's report. All records of the organization other than the auditor's report and the supplemental data requested by the Department of Insurance or the State Auditor are not considered public records for the purpose of the Freedom of Information Act.
The chairman of the board and the executive director must be directors of the direct-support organization and shall jointly name three other individuals to serve as directors of the organization.
(I) The board may endorse insurance coverage written exclusively for the purpose of protecting advance payment contracts, and the purchasers or beneficiaries of the contracts, which may be issued in the form of a group life policy.
Section 59-118-40. (A) The board shall construct advance payment contracts for registration and advance payment contracts for dormitory residence in accordance with the provisions of this chapter. Advance payment contracts constructed for the purposes of this section are exempt from the provisions of the South Carolina insurance laws. The board may request assistance from the Attorney General in the development of the advance payment contracts. The contents of both contracts must include, but not be limited to, the following:
(1) the amount of the payment or payments and the number of payments required from a purchaser on behalf of a qualified beneficiary;
(2) the terms and conditions under which purchasers shall remit payments, including, but not limited to, the date or dates upon which each payment is due;
(3) provisions for late payment charges and for default;
(4) provisions for penalty fees for withdrawals from the fund;
(5) the name and date of birth of the qualified beneficiary on whose behalf the contract is drawn and the terms and conditions under which another person may be substituted as the qualified beneficiary;
(6) the name of a person who may terminate the contract. The terms of the contract must specify whether the contract may be terminated by the purchaser, the qualified beneficiary, a specific designated person, or any combination of these persons;
(7) the terms and conditions under which a contract may be terminated, the name of the person entitled to a refund due as a result of termination of the contract pursuant to the terms and conditions, and the amount of refund, if any, due to the person so named;
(8) the time limitations, if any, within which the qualified beneficiary must claim his benefits through the program;
(9) other terms and conditions considered by the board to be appropriate.
(B) In addition to the provisions of Subsection (A), an advance payment contract for registration must include, but not be limited to, the following:
(1) the number of credit hours contracted by the purchaser;
(2) the state postsecondary system toward which the contracted credit hours will be applied;
(3) the assumption of a contractual obligation by the board to the qualified beneficiary to provide for a specified number of credit hours of undergraduate instruction at a state postsecondary institution, not to exceed the average number of credit hours required for the conference of the degree that corresponds to the plan purchased on behalf of the qualified beneficiary.
(C) In addition to the provisions of subsection (A), an advance payment contract for dormitory residence must include, but not be limited to, the following:
(1) the number of semesters of dormitory residence contracted by the purchaser;
(2) the assumption of a contractual obligation by the board to the qualified beneficiary to provide for a specified number of semesters of dormitory residence at a state university, not to exceed the maximum number of semesters of full-time enrollment required for the conference of a baccalaureate degree.
(D) An advance payment contract may provide that contracts which have not been terminated or the benefits exercised within a specified period of time are considered terminated. Time expended by a qualified beneficiary as an active duty member of any of the armed services of the United States must be added to the time specified pursuant to this subsection. No purchaser or qualified beneficiary whose advance payment contract is terminated pursuant to this subsection is entitled to a refund. The board shall retain any monies paid by the purchaser for an advance payment contract that has been terminated in accordance with this subsection. Monies retained by the board must be used by the board to further the purposes of this chapter.
(E) (1) No refund provided pursuant to Subsection (A)(7) may exceed the amount paid into the fund by the purchaser. If an advance payment contract is converted from a university to a community college registration plan, the refund amount must be reduced by the amount transferred to a community college on behalf of the qualified beneficiary. However, refunds may exceed the amount paid into the fund in the following circumstances:
(a) If the beneficiary is awarded a scholarship, the terms of which cover the benefits included in the advance payment contracts, monies paid for the purchase of the advance payment contracts must be returned to the purchaser in semester installments coinciding with the matriculation by the beneficiary in amount of the original purchase price plus five percent compounded interest.
(b) In the event of the death or total disability of the beneficiary, monies paid for the purchase of advance payment contracts must be returned to the purchaser together with five percent compounded interest.
(c) (i) If an advance payment contract is converted from a university plan to a community college plan or a community college plus university plan, or is converted from a community college plus university plan to a community college plan, the amount refunded must be the value of the original advance payment contract minus the value of the contract after the conversion.
(ii) No refund is authorized through an advance payment contract for any school year partially attended but not completed. For purposes of this chapter, a school year partially attended but not completed shall mean any one semester in which the student is still enrolled at the conclusion of the official drop-add period, but withdraws before the end of the semester. If a beneficiary does not complete a community college plan or university plan for reasons other than specified in this section, the purchaser shall receive a refund of the amount paid into the fund for the remaining unattended years of the advance payment contract pursuant to rules prescribed by the board.
Section 59-118-50. At a minimum, the board shall make advance payment contracts available for three independent plans to be known as the community college plan, the university plan, and the dormitory residence plan, respectively.
(1) Through the community college plan, the advance payment contract must provide prepaid registration fees for a specified number of undergraduate semester credit hours not to exceed the average number of hours required for the conference of an associate degree. The cost of participation in the community college plan must be based primarily on the average current and projected registration fees within the Technical Education System and the number of years expected to elapse between the purchase of the plan on behalf of a qualified beneficiary and the exercise of the benefits provided in the plan by the beneficiary. Qualified beneficiaries shall bear the cost of any laboratory fees associated with enrollment in specific courses. Each qualified beneficiary must be classified as a resident for tuition purposes regardless of his actual legal residence.
(2) Through the university plan, the advance payment contract must provide prepaid registration fees for a specified number of undergraduate semester credit hours not to exceed the average number of hours required for the conference of a baccalaureate degree. The cost of participation in the university plan must be based primarily on the current and projected registration fees of state four-year postsecondary institutions and the number of years expected to elapse between the purchase of the plan on behalf of a qualified beneficiary and the exercise of the benefits provided in the plan by the beneficiary. Qualified beneficiaries must bear the cost of any laboratory fees associated with enrollment in specific courses. If a qualified beneficiary fails to be admitted to a state four-year postsecondary institution or chooses to attend a community college, the qualified beneficiary may convert the average number of semester credit hours required for the conference of an associate degree from a university plan to a community college plan and may retain the remaining semester credit hours in the university plan or may request a refund for prepaid credit hours in excess of the average number of semester or quarter credit hours required for the conference of an associate degree pursuant to Section 59-118-40(A)(7). Each qualified beneficiary must be classified as a resident for tuition purposes regardless of his actual legal residence.
(3) Through the dormitory residence plan, the advance payment contract must provide prepaid housing fees for a maximum of ten semesters of full-time undergraduate enrollment in a state four-year postsecondary institution. Dormitory residence plans are optional and may be purchased only in conjunction with a university plan. Dormitory residence plans must be purchased in increments of two semesters. The cost of participation in the dormitory residence plan must be based primarily on the average current and projected housing fees for state four-year postsecondary institutions and the number of years expected to elapse between the purchase of the plan on behalf of a qualified beneficiary and the exercise of the benefits provided in the plan by the beneficiary. Qualified beneficiaries must bear the cost of any additional elective charges such as laundry service or long distance telephone service. Each four-year postsecondary institution may specify the residence halls eligible for inclusion in the plan. In addition, any such institution may request immediate termination of a dormitory residence contract based on a violation or multiple violations of rules of the residence hall. Qualified beneficiaries must have the highest priority in the assignment of housing within residence halls. If sufficient housing is not available for all qualified beneficiaries, the board shall refund the purchaser or qualified beneficiary an amount equal to the fees charged for dormitory residence during that semester.
(4) A qualified beneficiary may apply a community college plan, university plan, or dormitory residence plan toward any eligible independent college or university in this State as defined in Section 59-113-50. In order to be eligible for participation in the dormitory residence plan, an eligible independent college or university must provide written certification to the board that it complies with the provisions of item (3) of this section. The board shall transfer or cause to have transferred to the eligible independent college or university designated by the qualified beneficiary an amount not to exceed the redemption value of the plan within a state postsecondary institution. If the cost of registration or housing fees at the independent college or university is less than the corresponding fees at a state postsecondary institution, the amount transferred may not exceed the actual cost of registration or housing fees. No transfer authorized pursuant to this item may exceed the number of semester credit hours or semesters of dormitory residence contracted on behalf of a qualified beneficiary.
Section 59-118-60. The board shall solicit proposals for the operation of the South Carolina Postsecondary Education Expense Program pursuant to the South Carolina Consolidated Procurement Code, through which the board shall contract for the services of a records administrator, a trustee services firm, and one or more product providers.
(1) The records administrator must be the entity designated by the board to conduct the daily operations of the program on behalf of the board. The goals of the board in selecting a records administrator must be to provide all purchasers with the most secure, well-diversified, and beneficially administered postsecondary education expense plan possible, to allow all qualified firms invested in providing the services equal consideration and to provide the services to the State at no cost and to the purchasers at the lowest cost possible. Evaluations of proposals submitted pursuant to this paragraph must include, but not be limited to, the following criteria:
(a) fees and other costs charged to purchasers that affect account values or operational costs related to the program;
(b) past experience in records administration and current ability to provide timely and accurate service in the areas of records administration, audit, and reconciliation, plan communication, participant service, and complaint resolution;
(c) sufficient staff and computer capability for the scope and level of service expected by the board;
(d) financial history and current financial strength and capital adequacy to provide administrative services required by the board.
(2) The trustee services firm must be the entity designated by the board to select and supervise investment programs on behalf of the board. The goals of the board in selecting a trustee services firm must be to obtain the highest standards of professional trustee services, to allow all qualified firms interested in providing these services equal consideration, and to provide the services to the State at no cost and to the purchasers at the lowest cost possible. The trustee services firm shall agree to meet the obligations of the board to qualified beneficiaries if monies in the fund fail to offset the obligations of the board as a result of imprudent selection or supervision of investment programs by the firm. Evaluation of proposals submitted pursuant to this item must include, but not be limited to, the following criteria:
(a) adequacy of trustee services for supervision and management of the program, including current operations and staff organization and commitment of management to the proposal;
(b) capability to execute program responsibilities within time and regulatory constraints;
(c) past experience in trustee services and current ability to maintain regular and continuous interactions with the board, records administrator, and product provider;
(d) the minimum purchaser participation assumed within the proposal and any additional requirements of purchasers;
(e) adequacy of technical assistance and services proposed for staff;
(f) adequacy of a management system for evaluation and improving overall trustee services to the program;
(g) adequacy of facilities, equipment, and electronic data processing services;
(h) detailed projections of administrative costs, including the amount and type of insurance coverage, and detailed projections of total costs.
(3) (a) The product providers must be the entities designated by the board to develop investment portfolios on behalf of the board to achieve the purposes of this chapter. Product providers are limited to authorized insurers, banks, savings and loan associations, authorized Securities and Exchange Commission investment advisors, and investment companies as defined in the Investment Company Act of 1940. All product providers must have their principal place of business and corporate charter located and registered in the United States. In addition, each product provider must agree to meet the obligations of the board to qualified beneficiaries if monies in the fund fail to offset the obligations of the board as a result of imprudent investing by the provider. Each authorized insurer shall evidence superior performance overall on an acceptable level of surety in meeting its obligations to its policyholders and other contractual obligations. Only qualified public depositories approved by the Chief Insurance Commissioner and State Treasurer are eligible for board consideration. Each investment company shall provide investment plans as specified within the request for proposals.
(b) The goals of the board in selecting a product provider company must be to provide all purchasers with the most secure, well-diversified, and beneficially administered postsecondary education expense plan possible, to allow all qualified firms interested in providing the services equal consideration, and to provide the services to the State at no cost and to the purchasers at the lowest cost possible. Evaluations of proposals submitted pursuant to this section must include, but not be limited to, the following criteria:
(i) fees and other costs charged to purchasers that affect account values or operational costs related to the program;
(ii) past and current investment performance, including investment and interest rate history, guaranteed minimum rates of interest, consistence of investment performance, and any terms and conditions under which monies are held;
(iii) past experience and ability to provide timely and accurate service in the areas of records administration, benefit payments, investment management, and complaint resolution;
( iv) financial history and current financial strength and capital adequacy to provide products, including operating procedures and other methods of protecting program assets.
Section 59-118-70. The State shall agree to meet the obligations of the board to qualified beneficiaries if monies in the fund fail to offset the obligations of the board. The General Assembly shall appropriate to the Prepaid Postsecondary Education Expense Trust Fund the amount necessary to meet the obligations of the board to qualified beneficiaries.
Section 59-118-80. The assets of the fund must be maintained, invested, and expended solely for the purposes of this chapter and may not be loaned, transferred, or otherwise used by the State for any purpose other than the purposes of this chapter. This section may not be construed to prohibit the board from investing in, by purchase or otherwise, bonds, notes, or other obligations of the State or an agency or instrumentality of the State. Unless otherwise specified by the board, assets of the fund must be expended in the following order of priority:
(1) to make payments to state postsecondary institutions on behalf of qualified beneficiaries;
(2) to make refunds upon termination of advance payment contracts;
(3) to pay the costs of program administration and operations.
Section 59-118-90. Monies paid into or out of the fund by or on behalf of a purchaser or qualified beneficiary of an advance payment contract made under this chapter, which contract has not been terminated, are exempt from all claims of creditors of the purchaser or the beneficiary.
Section 59-118-100. The State or a county, municipality, or other political subdivision may by contract agree with any employee to remit payments toward advance payment contracts through payroll deductions made by the appropriate officer or officers of the State, county, municipality, or political subdivision. The payments must be held and administered in accordance with this chapter.
Section 59-118-110. Nothing in this chapter may be construed as a promise or guarantee that a qualified beneficiary will be admitted to a state postsecondary institution or to a particular state postsecondary institution, will be allowed to continue enrollment at a state postsecondary institution after admission, or will be graduated from a state postsecondary institution.
Section 59-118-120. If the State determines the program to be financially infeasible, the state may discontinue the program. Any qualified beneficiary who has been accepted by and is enrolled or is within five years of enrollment in an eligible independent college or university or state postsecondary institution is entitled to exercise the complete benefits for which he has contracted. All other contract holders shall receive a refund, pursuant to Section 58-118-40(A)(7), of the amount paid in and an additional amount in the nature of interest at a rate that corresponds, at a minimum, to the prevailing interest rates for savings accounts provided by banks and savings and loan associations."
SECTION 2. Section 12-7-435, as last amended by Act 189 of 1989, is further amended by adding an appropriately lettered item to read:
"( ) An amount paid to purchase a university or community college advance payment plan, not including a dormitory residence plan, pursuant to Chapter 118 of Title 59 and an amount equal to income attributable for federal income tax purposes to a beneficiary from payments of tuition and fees by a university or community college advance payme6
nt contract in the year the beneficiary's tuition is paid."
SECTION 3. The initial terms of two of the four members of the South Carolina Prepaid Postsecondary Education Expense Program Board established by this act is two years and the Governor shall note the term of the appointment.
SECTION 4. This act takes effect July 1, 1991.