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H. 3351
STATUS INFORMATION
General Bill
Sponsors: Reps. M.A. Pitts, Gullick, Bedingfield, G.R. Smith and R. Brown
Document Path: l:\council\bills\nbd\11170ab07.doc
Introduced in the House on January 25, 2007
Currently residing in the House Committee on Agriculture, Natural Resources and Environmental Affairs
Summary: Mitigation Trust Fund
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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1/25/2007 House Introduced and read first time HJ-2
1/25/2007 House Referred to Committee on Agriculture, Natural Resources
and Environmental Affairs HJ-2
2/20/2007 House Member(s) request name added as sponsor: Gullick
2/28/2007 House Member(s) request name added as sponsor: Bedingfield
3/1/2007 House Member(s) request name added as sponsor: G.R.Smith
5/8/2007 House Member(s) request name added as sponsor: R.Brown
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND SECTION 50-3-180, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE MITIGATION TRUST FUND ADMINISTERED BY THE BOARD OF THE DEPARTMENT OF NATURAL RESOURCES, SO AS TO FURTHER PROVIDE FOR THE AUTHORITY OF THE TRUSTEES OF THIS FUND, AND TO CLARIFY THE PURPOSES OF THE FUND AND THE USES FOR WHICH THE FUNDS MAY BE EXPENDED.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 50-3-180 of the 1976 Code, as amended by Act 419 of 1998, is further amended to read:
"Section 50-3-180. (A)(1) The Mitigation Trust Fund of South Carolina is credited created for the purposes of receiving gifts, grants, contributions, and other proceeds for mitigation projects in the State. The Board of Trustees for the Mitigation Trust Fund is the chairman and the members of the South Carolina Department of Natural Resources Board with full authority over the administration of the funds deposited in the fund. The State Treasurer is the custodian of the fund and shall invest its assets in an interest-bearing account pursuant to South Carolina law.
(2) The trustees of the Mitigation Trust Fund are authorized to:
(a) operate a program in order to implement the purposes of this section;
(b) develop additional guidelines and prescribe procedures, consistent with the criteria and purposes of this section, as necessary to implement this section;
(c) apply for and receive additional funding for the trust fund from federal, private, and other sources to be used as provided in this section;
(d) receive charitable contributions and donations to the trust fund, to be used as provided for in this section;
(e) receive contributions to the trust fund in satisfaction of any public or private obligation for environmental mitigation, whether the obligation arises out of law, equity, contract, regulation, administrative proceeding, or judicial proceeding; and
(f) award grants to advance the purposes of this section to not-for-profit charitable corporations or trusts authorized to do business in this State whose principal activity is the acquisition and management of interests in land for conservation purposes and which has tax-exempt status as a public charity under the Internal Revenue Code of 1986.
(B) The Mitigation Trust Fund may receive appropriations of state general funds, federal funds, donations, gifts, bond issue receipts, securities, and other monetary instruments of value. Reimbursement for monies expended from this fund must be deposited in this fund. Funds received through sale, exchange, or otherwise, of products of the property including, but not limited to, timber and utility easement rights, accrue to the Mitigation Trust Fund. Funds recovered for losses or damages to natural resources must be deposited to the Mitigation Trust Fund to be used first for restoration in the areas affected and then as provided in subsection (C) of this section.
(C) The income received and accruing from the fund must be spent only for the acquisition, restoration, enhancement, or and management of mitigation property and the development and implementation of restoration and enhancement plans for mitigation for of adverse impacts to natural resources. Mitigation projects under this section may involve any natural resources within the State which have been, are, or reasonably may be subject to harm, damage, or diminution in value associated with development, growth, injury due to intentional or accidental occurrences, acts of God, or any other threat to natural resources.
(D) The proceeds from this fund may be carried forward from year to year and do not revert to the general fund of the State.
(E) The Mitigation Trust Fund must not be used for the establishment and operation of a commercial mitigation bank."
SECTION 2. This act takes effect upon approval by the Governor.
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