SOUTH CAROLINA REVENUE AND FISCAL AFFAIRS OFFICE
S
TATEMENT OF ESTIMATED FISCAL IMPACT
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This fiscal impact statement is produced in compliance with the South Carolina Code of Laws and House and Senate rules. The focus of
the analysis is on governmental expenditure and revenue impacts and may not provide a comprehensive summary of the legislation.
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S. 0051
Fiscal Impact Summary
This joint resolution encourages the Public Service Authority (PSA), also known as Santee
Cooper, to issue a request for proposal (RFP) in order to solicit proposals from entities that are
interested in utilizing assets associated with V.C. Summer Units 2 and 3. The resolution also
encourages PSA to share information needed to make a proposal with the entities involved in the
RFP process. The resolution further encourages PSA to make certain considerations when
reviewing submitted proposals. Finally, the resolution requires the Joint Bond Review
Committee (JBRC) to approve, reject, or modify any RFP that involves the transfer of interest in
real property by PSA before the agency pursues a proposal.
PSA indicates that there will be additional costs related to development and administration of the
RFP and final review of the proposal but is unable to quantify those costs at this time. However,
PSA anticipates being able to manage the costs within their existing budget.
Explanation of Fiscal Impact
Introduced on January 14, 2025
State Expenditure
This joint resolution encourages PSA to issue an RFP in order to solicit proposals from entities
that are interested in utilizing assets associated with V.C. Summer Units 2 and 3. The resolution
also encourages PSA to share information needed to make a proposal, including data vaults
related to the project as well as legal and equitable ownership interests in the associated real and
personal property, with the entities involved in the RFP process. The resolution further
encourages PSA to consider each bidder’s proposal related to the construction of Units 2 and 3 or
other assets associated with Units 2 and 3 as well as the economic impact each proposal will
have on South Carolinians, including potential relief for ratepayers. Finally, the resolution
requires JBRC to approve, reject, or modify any RFP that involves the transfer of interest in real
property by PSA before the agency pursues a proposal.
PSA indicates that there will be additional costs related to development and administration of the
RFP and final review of the proposal but is unable to quantify those costs at this time. However,
PSA anticipates being able to manage the costs within their existing budget.
Bill Number: S. 0051 Introduced on Januar
y 14, 2025
Subject: Public Service Authority RFP for V.C. Summer
Requestor: Senate Judiciary
RFA Analyst(s): Manic
Impact Date: January 28, 2025
__________________________________
Frank A. Rainwater, Executive Director
DISCLAIMER: THIS FISCAL IMPACT STATEMENT REPRESENTS THE OPINION AND INTERPRETATION OF THE
AGENCY OFFICIAL WHO APPROVED AND SIGNED THIS DOCUMENT. IT IS PROVIDED AS INFORMATION TO
THE GENERAL ASSEMBLY AND IS NOT TO BE CONSIDERED AS AN EXPRESSION OF LEGISLATIVE INTENT.
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S. 0051
State Revenue
N/A
Local Expenditure
N/A
Local Revenue
N/A