Bill Text: SC H4420 | 2017-2018 | 122nd General Assembly | Introduced

South Carolina House Bill 4420 (Prior Session Legislation)

Introduced

Bill Title: Base Load Review Act

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2018-01-09 - Referred to Committee on Judiciary [H4420 Detail]

Download: South_Carolina-2017-H4420-Introduced.html

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 58-33-282 SO AS TO PROHIBIT A UTILITY THAT EMPLOYS THE BASE LOAD REVIEW ACT'S ABANDONMENT PROCEDURES FROM GIVING OR AWARDING TO AN OFFICER OR A "C-SUITE" OR "C-LEVEL" EXECUTIVE A SEVERANCE PACKAGE WITH A VALUE OR WORTH THAT EXCEEDS THE LARGEST SEVERANCE PACKAGE GIVEN OR AWARDED TO AN EMPLOYEE OR INDEPENDENT CONTRACTOR TERMINATED AS A RESULT OF THE UTILITY'S ABANDONMENT.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Article 4, Chapter 33, Title 58 of the 1976 Code is amended by adding:

"Section 58-33-282. Notwithstanding another provision of law, a utility that employs the abandonment procedures pursuant to this article may not give or award to an officer or a 'C-suite' or 'C-level' executive a severance package with a value or worth that exceeds the largest severance package given or awarded to an employee or independent contractor terminated as a result of the utility's abandonment."

SECTION 2. This act takes effect upon approval by the Governor.