South Carolina General Assembly

116th Session, 2005-2006

S. 1064

STATUS INFORMATION

General Bill

Sponsors: Senator Gregory

Document Path: l:\council\bills\agm\18030mm06.doc

Introduced in the Senate on January 19, 2006

Introduced in the House on February 8, 2006

Currently residing in the House Committee on Agriculture, Natural Resources and Environmental Affairs

Summary: Mitigation Trust Fund

HISTORY OF LEGISLATIVE ACTIONS

DateBodyAction Description with journal page number

1/19/2006SenateIntroduced and read first time SJ4

1/19/2006SenateReferred to Committee on Fish, Game and ForestrySJ4

2/1/2006SenateCommittee report: Favorable Fish, Game and ForestrySJ43

2/2/2006SenateRead second time

2/2/2006Scrivener's error corrected

2/7/2006SenateRead third time and sent to House SJ21

2/8/2006HouseIntroduced and read first time HJ11

2/8/2006HouseReferred to Committee on Agriculture, Natural Resources and Environmental AffairsHJ11

VERSIONS OF THIS BILL

1/19/2006

2/1/2006

2/2/2006

Indicates Matter Stricken

Indicates New Matter

COMMITTEE REPORT

February 1, 2006

S.1064

Introduced by Senator Gregory

S. Printed 2/1/06--S.[SEC 2/2/06 2:24 PM]

Read the first time January 19, 2006.

THE COMMITTEE ON FISH, GAME AND FORESTRY

To whom was referred a Bill (S.1064) to amend the Code of Laws of South Carolina, 1976, by redesignating Section 503180, as amended, relating to the Mitigation Trust Fund, as Article 12, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

CHAUNCEY K. GREGORY for Committee.

[1064-1]

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY REDESIGNATING SECTION 503180, AS AMENDED, RELATING TO THE MITIGATION TRUST FUND, AS ARTICLE 12 OF CHAPTER 3 OF TITLE 50, TO FURTHER PROVIDE FOR THE AUTHORITY OF THE TRUSTEES OF THE FUND, THE PURPOSES OF THE FUND, AND USES FOR WHICH THE FUND MAY BE EXPENDED; TO REPEAL SECTION 501310, RELATING TO THE MITIGATION TRUST FUND.

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

SECTION1.Section 503180 of the 1976 Code, as last amended by Act 419 of 1998, is redesignated as Section 5031310 to be part of new Article 12 of Chapter 3, Title 50. When redesignated Article 12 shall read:

“Article 12

Mitigation Trust Fund

Section 5031805031310. (A) The Mitigation Trust Fund of South Carolina is creditedcreated for the purposes of receiving gifts, grants, contributions, and other proceedsfunding in satisfaction of a public or private obligation for environmental mitigation, whether the obligation arises out of law, equity, contract, regulation, administrative proceeding, or judicial proceeding,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 interestbearing account pursuant to South Carolina law.

(B)The Mitigation Trust Fund may receive appropriations of state general funds, interagency transfers, 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)(1)The income received and accruing from the fund must be spent only for the acquisition, restoration, enhancement, orand management of mitigation property and the development and implementation of restoration and enhancement plansfor mitigation forof adverse impacts to natural resources. As a part of a mitigation plan the trustees may contract with notforprofit entities that have taxexempt status under the Internal Revenue Code to act for the trustees to acquire or manage mitigation projects if the entity:

(a)is authorized to do business in this State; and

(b)has the principal activity of acquisition and management of interests in land for conservation purposes.

(2)Lands acquired for mitigation must be protected permanently and demonstrate a direct benefit to the public.

(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.”

SECTION2.Section 501310 of the 1976 Code is repealed.

SECTION3.This act takes effect upon approval by the Governor.

XX

[1064]1