The bill S. 12 proposes to amend the South Carolina Code of Laws by adding Section 58-31-205, which grants the Public Service Authority the authority to jointly own electrical generation and transmission facilities with investor-owned utilities. This ownership can be structured as tenants-in-common or through a limited liability company. The bill outlines that the Public Service Authority will have the power to plan, finance, acquire, own, operate, and maintain these facilities, with ownership proportional to the financial contributions made by the Authority for their acquisition and construction. Additionally, the Authority will control a corresponding percentage of the electrical output from these facilities.

Furthermore, the bill establishes that the Public Service Authority will be severally liable for its share of the facilities in relation to any acts or obligations incurred by the operator or other owners while acting as the designated agent. However, it clarifies that the Authority will not be jointly or severally liable for the actions of other owners, nor will its funds or property be used to cover debts or obligations of the operator or other owners. The act will take effect upon approval by the Governor.

Statutes affected:
12/11/2024: 58-31-205
02/19/2025: 58-31-205
Latest Version: 58-31-205