Current Status Introducing Body:House Bill Number:4974 Ratification Number:486 Act Number:423 Primary Sponsor:Boan Type of Legislation:JR Subject:Prudential Bache settlement revenues Date Bill Passed both Bodies:19940511 Computer Document Number:JIC/5321HTC.94 Governor's Action:S Date of Governor's Action:19940524 Introduced Date:19940324 Date of Last Amendment:19940510 Last History Body:------ Last History Date:19940524 Last History Type:Act No. 423 Scope of Legislation:Statewide All Sponsors:Boan Hodges Type of Legislation:Joint Resolution
Bill Body Date Action Description CMN Leg Involved
---- ------ ------------ ------------------------------ --- ------------
4974 ------ 19940524 Act No. 423
4974 ------ 19940524 Signed by Governor
4974 ------ 19940519 Ratified R 486
4974 House 19940511 Concurred in Senate
amendment, enrolled for
ratification
4974 Senate 19940510 Amended, read third time,
returned to House with
amendments
4974 Senate 19940427 Read second time, notice of
general amendments
4974 Senate 19940421 Recalled from Committee, 06
placed on Calendar
4974 Senate 19940414 Introduced, read first time, 06
referred to Committee
4974 House 19940413 Read third time, sent to
Senate
4974 House 19940412 Amended, read second time
4974 House 19940406 Debate adjourned until
Thursday, April 7, 1994
4974 House 19940324 Introduced, read first time,
placed on Calendar without
reference
View additional legislative information at the LPITS web site.
(A423, R486, H4974)
A JOINT RESOLUTION TO AMEND SECTION 56-3-2320, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEALER AND WHOLESALER MOTOR VEHICLE LICENSE PLATES, SO AS TO AUTHORIZE THE USE OF A DEALER PLATE ON A MOTOR VEHICLE LENT BY THE DEALER TO A PUBLIC OR PRIVATE SCHOOL FOR A DRIVER EDUCATION PROGRAM AND PROVIDE FOR THE CONDITIONS UNDER WHICH A DEALER PLATE FOR THIS PURPOSE MAY BE OBTAINED AND USED, TO PROVIDE FOR THE USE OF FUNDS DERIVED FROM THE PRUDENTIAL BACHE SETTLEMENT, INCLUDING AMOUNTS WHICH MAY BE RETAINED BY THE SECRETARY OF STATE AND APPROPRIATIONS FOR INVESTOR RESTITUTION, THE ADMINISTRATIVE LAW JUDGE DIVISION, AND THE DIVISION OF GENERAL SERVICES OF THE STATE BUDGET AND CONTROL BOARD, TO ALLOW FUNDS APPROPRIATED FOR THE ADMINISTRATIVE LAW JUDGE DIVISION TO BE CARRIED FORWARD INTO THE SUCCEEDING FISCAL YEAR, AND TO AUTHORIZE THE STATE DEPARTMENT OF EDUCATION TO TRANSFER EDUCATION FINANCE ACT FUNDS TO COVER OPERATING EXPENSES OF SCHOOL BUS SHOPS WITH ANY UNEXPENDED FUNDS FURTHER TRANSFERRED TO THE SCHOOL BUILDING FUND AFTER THE CLOSE OF FISCAL YEAR 1993-94.
Be it enacted by the General Assembly of the State of South Carolina:
Funds retained and appropriated
SECTION 1. Of $647,715 collected by the Office of the Secretary of State in fiscal year 1993-94 from the settlement of the Prudential Bache litigation, the Office of the Secretary of State may retain an amount not exceeding $324,201 to retire installment purchase program debt incurred for office automation. An amount equal to $197,545 from this sum is appropriated for the Administrative Law Judge Division for fiscal year 1993-94. An amount equal to $119,439.37 from this sum is appropriated for restitution to investors in Prudential Bache products covered by the settlement. The remaining balance from this sum is appropriated to the Division of General Services of the State Budget and Control Board for the State House renovations project.
Carry forward
SECTION 2. Unexpended amounts appropriated pursuant to Section 1 of this joint resolution for the Administrative Law Judge Division may be carried forward to fiscal year 1994-95.
Funds transferred
SECTION 3. The State Department of Education may transfer an amount not to exceed five hundred thousand dollars appropriated in the general appropriations act for fiscal year 1993-94 to fund the Education Finance Act to cover operating expenses of school bus shops obligated and paid during fiscal year 1993-94. Immediately after closing the financial records for fiscal year 1993-94, the Department of Education must transfer all unexpended funds transferred for school bus maintenance from the Education Finance Act to the School Building Fund.
Dealer license plates
SECTION 4. Section 56-3-2320(A) of the 1976 Code, as last amended by Section 1388, Act 181 of 1993 and Section 105B, Part II, Act 164 of 1993, is further amended by inserting before the last unnumbered paragraph:
"A dealer license plate is allowed on a motor vehicle which the dealer lends to a public or private school for use in a driver education program. A plate used for this purpose may be obtained without fee and without regard to the limit on plates issued pursuant to this section. When the motor vehicle is no longer used for driver education, the dealer shall surrender the plate to the department."
Time effective
SECTION 5. This joint resolution takes effect upon approval by the Governor.
Approved the 24th day of May, 1994.