H 4601

South Carolina General Assembly
126th Session, 2025-2026
Bill 4601
Indicates Matter Stricken
Indicates New Matter
(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)
A bill
TO AMEND THE SOUTH CAROLINA CODE OF LAWS
BY ADDING CHAPTER 54 TO TITLE 11 SO AS TO ESTABLISH THE "I-95 CORRIDOR
AUTHORITY ACT" AND TO PROVIDE FOR THE COMPOSITION, DUTIES, AND POWERS OF THE
AUTHORITY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1.  Title 11 of the S.C. Code is
amended by adding:
    CHAPTER 54
    I-95 Corridor Authority Act
    Section 11-54-5. This chapter may be cited as the "I-95 Corridor
Authority Act."
    Section 11-54-10.  There is established
the I-95 Corridor Authority. The authority must:
    (1) carry out economic development,
health, and educational improvement activities which, in the opinion of the
authority, will improve the economic conditions in its member counties and are
located in a member county or an adjacent qualified census tract.
    (2) report to
the General Assembly, at least annually, on the progress made related to its
charge, any modification of the laws of this State needed to allow the
authority to better fulfill its charge, programs, and operations.
    Section 11-54-15.  The authority is a
public body, politic and corporate, and an agency of the State and may:
    (1) adopt bylaws, procedures, and
regulations for the directors, officers, and employees and for implementation
and operation of the programs authorized by this act;
    (2) sue and be sued in its own name;
    (3) enter into contracts, agreements,
and instruments and make offers to contract with persons, partnerships, firms,
corporations, agencies, or entities, whether public or private, considered
desirable in the furtherance of its purpose;
    (4) acquire by purchase, donation,
exchange, or otherwise, hold, improve, mortgage, pledge, or otherwise,
encumber, manage, lease, convey, transfer, or dispose of any real or personal
property, whether tangible or intangible, together with rights and privileges
as may be incidental and appurtenant thereto. To the extent that administrative
funds are involved, the authority must comply with the provisions of the South
Carolina Consolidated Procurement Code. To the extent that the liability of the
authority is limited to program funds, any acquisition or disposition may be
pursuant to public or private sale upon terms and conditions as the authority
may approve in accordance with prudent business practices;
    (5) appoint officers, agents,
employees, and consultants, prescribe their duties, and fix their compensation;
and
    (6) participate in and cooperate with
any agency or instrumentality of the United States and with any agency or
political subdivision of this State in the administration of any of the
programs authorized by this act.
    Section
11-54-20.  The member counties of the authority consist of Allendale, Bamberg,
Barnwell, Calhoun, Chesterfield, Clarendon, Colleton, Darlington, Dillon,
Hampton, Jasper, Lee, Marion, Marlboro, Orangeburg, Sumter, and Williamsburg.
    Section
11-54-25.  (A) The authority is
governed by a board of directors that is composed of fifteen members. The
members must be appointed as follows:
       (1) five members appointed by the
senators whose districts include the member counties;
       (2) five members appointed by the
representatives whose districts include the member counties; and
       (3) five members appointed by the
Governor, one of whom is designated as chairperson.
    No
member may be a legislator or a member of a legislator's family. No two members
designated in items (1) through (3) may reside in the same county. At least
three of the five members selected in each of items (1) through (3) shall
reside in a member county or adjacent qualified census tract. All members
designated in items (1) through (3) must have sufficient experience in the
fields of education, economic development, healthcare, or business management
to deem them qualified as determined by the appointing senators,
representatives, or chairman.
    (B) Except as provided in subsection
(C), members must serve a three-year term and must be limited to two terms. Any
vacancy on the authority must be filled in the same manner as the original
appointment. Members of the authority shall serve without mileage, per diem,
and subsistence.
    (C)  Initial appointments to the
authority pursuant to subsection (A)(3) must be made within sixty days of the
enactment of this section. Appointments pursuant to subsection (A)(1) and (2)
must be made from sixty to one hundred twenty days of the enactment of this section.
    Five
appointees shall serve for a one-year term and five appointees shall serve for
a two-year term, all determined by lot at the first called meeting except for
the chairman who shall serve a three-year term.
    (D) The initial meeting of the
authority shall be convened by the chairman as soon as practical after the
initial appointments are made. Business of the authority only may be conducted
when a quorum is present. A quorum consists of a majority of the members appointed
pursuant to subsection (A)(1)-(3).
    Section 11-54-30.  (A) The
authority shall receive state funds as appropriated by the General Assembly.
    (B) In addition to funding sources
listed in subsection (A), the authority is authorized to solicit and accept
private and public donations, grants, gifts, and federal funds. All funds
received by the authority, regardless of their source, are to be held and
accounted for by the State Treasurer in a separate investment account to be
known as the "I-95 Corridor Authority Fund." This fund is separate and distinct
from all other funds. Earnings and interest on this fund must be credited to it
and any balance in this fund at the end of a fiscal year carries forward in the
fund in the succeeding fiscal year. Disbursements from the authority fund only
must be made upon the signature of the chairman of the board of directors, or a
designee of the board, upon written warrants of the Comptroller General drawn
on the State Treasurer to the payee designated in the requisition.
    (C) The authority must distribute funds
as loans or grants, in a manner which fulfills the charge in Section 11-54-10.
The authority must create guidelines to govern the selection of recipients of
grants or loans and the distribution of these funds.
    (D) The authority must be audited
annually by the State Auditor or by an independent certified public accounting
firm approved by the State Auditor.
SECTION 2.  This
act takes effect upon approval by the Governor.
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