South Carolina - H 3225 - 2016

A bill to provide that on or before July 1, 2017, the state Fiscal Accountability Authority shall issue a request for proposals (RFP) soliciting bids for the complete purchase of or a noncontrolling percentage ownership interest in the South Carolina Public Service Authority by a third party from the state of South Carolina, to stipulate the requirements of this request for proposals, to provide that the state Fiscal Accountability Authority on or before January 1, 2018, shall open the bids and may accept the highest suitable bid, to require the Public Service Authority to certify its assets and liabilities, and provide its certified income statements for the last five years and balance sheet to the state Fiscal Accountability Authority for the purposes of this solicitation, to also require the Public Service Authority to cooperate with interested bidders in the preparation of their bid, and to provide civil remedies and penalties for failure to perform these requirements, to specify how proceeds derived from the sale must be used if a suitable bid is accepted; and to repeal Chapter 31, Title 58, Code of Laws of South Carolina, 1976, relating to the Public Service Authority upon final consummation of a complete purchase and sale.

View Latest Bill

Regulatory

Added On: 03-28-2017
Updated On: 07-18-2017
Status: Introduced
Primary Sponsors: James Mikell "Mike" Burns (House/Republican), William M. Chumley (House/Republican), Dwight A. Loftis (House/Republican), Steven Wayne Long (House/Republican), Josiah Magnuson (House/Republican)





Actions (4)

  • 12-15-2016 - Referred to Committee on Ways and Means
  • 12-15-2016 - Prefiled
  • 01-10-2017 - Referred to Committee on Ways and Means
  • 01-10-2017 - Introduced and read first time