The bill H. 4007 seeks to amend the South Carolina Code of Laws by adding Section 58-31-205, which authorizes the Public Service Authority to jointly own, alongside Dominion Energy South Carolina, Inc., one or more combined cycle natural gas units and related facilities at the Canadys site. This provision allows the Public Service Authority to engage in various activities related to the development, operation, and maintenance of these units, including planning, financing, and acquiring necessary facilities. The ownership percentage of the Public Service Authority in these units will correspond to the financial contributions or property value it provides for their acquisition and construction.

Additionally, the bill stipulates that the Public Service Authority will be severally liable for its share of the combined cycle natural gas units and related facilities, meaning its liability will be proportional to its ownership stake. However, it clarifies that the Public Service Authority will not be jointly or severally liable for the actions or obligations of other owners or operators of the units, ensuring that its financial resources are protected from being applied to the debts or obligations of others involved in the project. The act will take effect upon approval by the Governor.

Statutes affected:
02/13/2025: 58-31-205
Latest Version: 58-31-205