BIL:4998
RTN:363
ACN:286
TYP:General Bill GB
INB:House
IND:20020403
PSP:Kelley
SPO:Kelley
DDN:l:\council\bills\pt\1808dw02.doc
DPB:20020516
LAD:20020509
GOV:S
DGA:20020528
SUB:State government entities renting, leasing, or purchasing of equipment, State Treasurer to provide financing arrangements under Master Lease Program to entities
HST:
BodyDateAction DescriptionComLeg Involved
______
------20020613Act No. A286
------20020528Signed by Governor
------20020522Ratified R363
House20020516Concurred in Senate amendment,
enrolled for ratification
Senate20020514Read third time, returned with
amendment
Senate20020509Amended, read second time
Senate20020508Committee report: Favorable06 SF
Senate20020418Introduced, read first time,06 SF
referred to Committee
House20020418Read third time, sent to Senate
House20020417Amended, read second time
House20020411Committee report: Favorable with30 HWM
amendment
House20020403Introduced, read first time,30 HWM
referred to Committee
Versions of This Bill
Revised on 20020411
Revised on 20020417
Revised on 20020508
Revised on 20020509
TXT:
(A286, R363, H4998)
AN ACT TO AMEND SECTION 111020, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE AUTHORIZATION FOR THE STATE TREASURER TO MAKE INSTALLMENT LOANS TO ENTITIES OF STATE GOVERNMENT FOR THE PURPOSE OF RENTING, LEASING, OR PURCHASING OF CERTAIN EQUIPMENT, SO AS TO DELETE REFERENCES TO INSTALLMENT LOANS AND INSTEAD ALLOW THE STATE TREASURER TO PROVIDE FINANCING ARRANGEMENTS UNDER THE MASTER LEASE PROGRAM TO ENTITIES OF STATE GOVERNMENT FOR THE PURPOSE OF OBTAINING CERTAIN EQUIPMENT, TO REQUIRE THE STATE TREASURER TO NEGOTIATE THE FINANCING TERMS FOR THIS PROGRAM, TO REQUIRE REPAYMENT SCHEDULES UNDER THE PROGRAM TO PROVIDE SUFFICIENT FUNDS TO DEFRAY PROGRAM ADMINISTRATION COSTS, AND TO ALLOW THE OFFICE OF THE STATE TREASURER TO RETAIN THESE FUNDS TO DEFRAY ITS COSTS WITH ANY EXCESS FUNDS AT YEAREND DEPOSITED TO THE CREDIT OF THE GENERAL FUND OF THE STATE.
Be it enacted by the General Assembly of the State of South Carolina:
Master lease program; funds retained
SECTION1.Section 111020 of the 1976 Code, as last amended by Act 497 of 1994, is further amended to read:
“Section 111020.(A)The Office of State Treasurer is authorized to provide financing arrangements under the master lease program on behalf of boards, commissions, institutions, and agencies of state government for the purpose of renting, leasing, or purchasing office equipment, telecommunications equipment, energy conservation equipment, medical equipment, data processing equipment, and related software in accordance with procurement statutes and regulations.
(B)The Office of State Treasurer shall negotiate the terms of any financing arrangement and prescribe the procedures necessary to administer this program.
(C)When providing financing as described in subsection (A) of this section, the Office of State Treasurer shall ensure that repayment schedules provide sufficient funds to defray the cost of administering this program. The Office of State Treasurer shall retain such funds as are necessary to defray administrative costs. Any excess funds at yearend must be deposited to the credit of the general fund of the State.”
Time effective
SECTION2.This act takes effect upon approval by the Governor.
Ratified the 22nd day of May, 2002.
Approved the 28th day of May, 2002.
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