April 28, 2009
Highlights of the 14th week (April 12) and 15th week (April 19) of the S.C. General Assembly session include legislative action and activities on the state budget and tax credits for employers. Also, an update on the federal economic stimulus bill is provided:
Economic Stimulus Bill
The state battle on spending the federal economic stimulus money continues. S. C. agencies and programs should see $2.8 billion during the next two years as part of the $787 billion bill. Gov. Mark Sanford has said he won’t request $700 million, or $350 million each year, unless it can be used to reduce debt. The White House rejected the idea. The state Supreme Court refused to hear the case that could have cleared the way for the legislature to seek the cash despite Sanford’s opposition, saying it was too early to argue the case.
Nonetheless, the Senate Finance Committee’s version of the budget has included the stimulus funds: $185 million for public schools to help prevent teacher layoffs, nearly $100 million for two- and four-year colleges and the rest mainly for police and prison agencies.
State Budget (Fiscal Year 2009-2010)
The Senate Finance Committee continues to work on its version of a contentious $5.7 billion budget that could leave state workers jobless and force prison closures. Last week, Senators gave key approval to a bill that removes $50 million from a fund that helps municipal and county governments fund police, fire and emergency media services.
The $1 million designated for interstate 73/74 planning has been removed from the budget the Senate will debate this week. The I-73/74 money has been in the budget about six years and is the only ongoing funding for the road. It’s also the only money South Carolina has allocated for planning. The Senate has $115 million less to work with than the House because revenue projections were lowered after the House passed its version of the budget.
The good news is that the Senate replaced $2 million of the 2-1 matching money for tourism promotion. The House had struck all 2-1 funds.
Tax Credits for Employers
The Senate Finance Committee has approved a bill that would give employers tax credits of up to $2,400 for hiring and keeping South Carolina’s jobless on their payrolls. The bill would credit employers $100 for each month the worker in on the payroll, up to two years. Employers would be required to hire those who have drawn at least four weeks of unemployment benefits.
Sources: Information has been compiled from reports in The Sun News (Myrtle Beach), The State (Columbia) and Associated Press.
For legislative tracking on specific bills, visit the chamber's Government Relations page.
On the Net
MyrtleBeachAreaChamber.com
SCStateHouse.net
House.gov
Senate.gov
USA.gov
SCChamber.net
USChamber.com
I-73.com
