South Carolina H 3426: Pardons

Bill Text

2025-2026 Bill 3426 Text of Previous Version (Dec. 06, 2024) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 3426

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING 
SECTION 31-13-20, RELATING TO THE SOUTH CAROLINA STATE HOUSING FINANCE AND 
DEVELOPMENT AUTHORITY, SO AS TO PROVIDE THAT THE AUTHORITY IS A STATE AGENCY; 
BY AMENDING SECTIONS 31-13-30, RELATING TO COMMISSIONERS; 31-13-40, RELATING TO 
THE EXECUTIVE DIRECTOR; 31-13-50, RELATING TO POWERS AND DUTIES; 31-13-200, 
RELATING TO NOTES AND BONDS; 31-13-210, RELATING TO MAXIMUM INTEREST RATE; 
31-13-340, RELATING TO STATE HOUSING FINANCE AND DEVELOPMENT AUTHORITY PROGRAM 
FUND; 31-13-410, RELATING TO DEFINITIONS; 31-13-420, RELATING TO ESTABLISHMENT 
OF FUND; 31-13-430, RELATING TO ADVISORY COMMITTEE; 31-13-440, RELATING TO 
DUTIES OF EXECUTIVE DIRECTOR; 31-13-445, RELATING TO FUND MONEY; AND 31-13-450, 
RELATING TO USE OF MONIES IN FUND, ALL SO AS TO MAKE CONFORMING CHANGES.

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

SECTION 1. Sections 31-13-20 through 31-13-50 of the S.C. Code are 
amended to read:

 Section 
31-13-20. There is hereby created a public body corporate 
and politic state agency to be known as the 
South Carolina State Housing Finance and Development Authority.

 Section 
31-13-30. The Governor shall appoint, with the 
advice and consent of the Senate, seven persons to be 
commissioners an executive director of the 
South Carolina State Housing Finance and Development Authority. The seven persons executive director 
so appointed shall have experience in the fields of mortgage finance, banking, 
real estate, and home building. The Governor shall appoint 
a chairman from among the seven commissioners.

 The commissioners must be 
appointed for terms of four years, except that all vacancies must be filled for 
the unexpired term. A commissioner shall hold office until his successor has 
been appointed and qualifies. A certificate of the appointment or reappointment 
of any commissioner must be filed in the office of the Secretary of State and 
in the office of the Authority, and the certificate is conclusive evidence of 
the due and proper appointment of the commissioner. The Governor or his 
designee and the State Commissioner of Health and Environmental Control or his 
designee from his administrative staff shall serve ex officio as commissioners 
of the Authority with the same powers as the other commissioners. The 
executive director shall serve at the pleasure of the Governor.

 Section 
31-13-40. As soon as possible after their appointment, 
the commissioners shall organize for the transaction of business by choosing a 
vice-chairman and by adopting bylaws and rules and regulations suitable to the 
purpose of organizing the Authority and conducting the business thereof. The commissioners shall appoint an executive director, who shall serve at the pleasure of the Authority, and shall hire such other officers and employees as they he may require for the 
performance of their his duties 
and shall prescribe the duties and compensation of each 
officer and employee.

 Section 
31-13-50. Except as otherwise provided in this 
article, the Authority and its commissioners have has the same functions, rights, powers, duties, 
privileges, immunities, and limitations as those provided for housing 
authorities created for cities, counties or groups of counties, and the 
commissioners of the housing authorities. The Authority also may make home 
equity conversion mortgages to any person who is a member of a beneficiary 
class of the Authority as provided in Section 31-13-170(b), (o), and (p) and 
who is over sixty-five years of age. The Authority may prepare and administer a 
program for the home equity conversion mortgages and may coordinate any 
available funding for the program with the federal government and the private 
sector. Money received as a result of obtaining a home equity conversion 
mortgage must not be counted as income in a determination of entitlement to any 
public assistance. The term "home conversion mortgage" means a first mortgage 
which provides for future payments to the homeowner based on accumulated 
equity.

 The provisions of 
this chapter and Chapter 11 apply to the Authority in the same manner and to 
the same extent as the provisions are applicable to a housing authority created 
for a city or a county, and the term "Authority" or "Housing Authority" as used 
in the provisions includes the South Carolina State Housing Finance and 
Development Authority unless a different meaning clearly appears from the 
context.

SECTION 2. Section 31-13-200(5) and (9) of the S.C. Code is 
amended to read:

 (5) Neither the 
commissioners executive director of the 
Authority nor any other pers