S 829 — Joint System Governance

2025-2026 Bill 829 Text of Previous Version (Mar.(Jan.

11,20, 2026) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 829Indicates Matter StrickenIndicates New Matter(Text matches printed bills.

Document has been reformatted to meet World Wide Web specifications.) Indicates  Matter  Stricken  Indicates  New  Matter    Committee  ReportA Marchbill 11,  2026TO  AMEND S.THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 6-25-20, RELATING TO DEFINITIONS, SO AS TO PROVIDE APPROPRIATE DEFINITIONS;

829   Introduced by Senator Alexander   S.

Printed 3/11/26--S.

Read the first time January 20, 2026   ________   The committee on Senate Judiciary To whom was referred a Bill (S.

829) to amend the South Carolina Code of Laws by amending Section 6-25-20, relating to definitions, so as to provide appropriate definitions;

by amending Section 6-25-50, etc., respectfully Report:

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

     Amend the bill, as and if amended, SECTION 6, by striking Section 6-25-110 and inserting:

    Section 6-25-110.  A joint system may incur debt for any of its purposes and may issue bonds pledging to the payment as to both principal and interest the revenues, or any portion, derived or to be derived from all or any of its projects and any additions and betterments or extensions or contributions or advances from its members or other sources of funds available to it.

A joint system may not undertake a project required to be financed, in whole or in part, with the proceeds of bonds without the approval of the governing bodies of each member which is obligated or to be obligated under any contract for the payment of amounts to be pledged as security therefore and a favorable vote of two-thirds of all commissioners.

Notwithstanding the foregoing, when a commission is appointed under Section 6-25-60(B)(2), no separate approval of the governing bodies of each member shall be required for the issuance of any bonds, and such bonds shall be authorized and approved by a simple majority of the commissioners.

Any project may be preauthorized, preapproved, or otherwise permitted under the terms of the project contract for the joint system, and such authority, approval, or permission shall constitute all necessary approval of the respective governing bodies of each member herein.

Notwithstanding the foregoing, when a commission is appointed under Section 6-25-60(B)(2), no separate approval of the governing bodies of each member shall be required for the issuance of any bonds, and such bonds shall be authorized and approved by a simple majority of the commissioners.

A joint system formed only for the purpose of creating a financing pool may issue notes in anticipation of the issuance of bonds by its members to the government.

Renumber sections to conform.

Amend title to conform.

  LUKE RANKIN for Committee.

  _______                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 6-25-20, RELATING TO DEFINITIONS, SO AS TO PROVIDE APPROPRIATE DEFINITIONS;

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