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SC S0891
Bill
Status
Introduced
2/4/2026
Primary Sponsor
Thomas Corbin
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AI Summary
- Expands the definition of "financing agreement" to include contracts where governmental entity payments are used to service debt issued to acquire or improve assets, and covers partial title transfers
- Applies financing agreement rules to all contracts with installment payments from school districts or political subdivisions to nonprofit corporations or other entities, not just those for school facilities
- Makes local governing body members who knowingly vote for actions violating constitutional debt limits (Section 14, Article X) guilty of misconduct in office
- Makes school board trustees and other school district governing body members who knowingly vote for actions violating constitutional school debt limits (Section 15, Article X) guilty of misconduct in office
- Takes effect upon approval by the Governor
Legislative Description
Financing Agreements
Last Action
Referred to Committee on Finance
2/4/2026
Committee Referrals
Finance2/4/2026
Full Bill Text
No bill text available