What Happened: Weekly Legislative Review February 1st to February 5th

Highlights:

• SCPC President Ashley Landess gave testimony Tuesday at the Senate Finance Sales and Income Taxation Subcommittee meeting on S. 1054, a bill on tax incentives and credits for the Okatie Crossing retail shopping mall in Jasper County.
• Tuesday, after the Sales and Income Taxation Subcommittee passed S. 1054, the Senate Finance Committee submitted a favorable report on the bill. Sen. Greg Ryberg, however, filed a minority report when the committee failed to pass the bill out unanimously, which significantly increases the procedural hurdles it faces before final passage. To read more, see this article on The Nerve.
• On the House floor, Rep. Rex Rice moved to adjourn debate on H. 4033, a bill that would allow SCDOT to enter into public-private partnerships. This was a good move given that it was unclear to House members if the state would be on the hook for debt if the private entity failed financially. Representatives have a few weeks to research the impact this bill will have on the state. H. 4033 will be taken up again on February 23^rd.
• Sen. Tom Davis was the lone vote against S. 717, Thursday that would provide additional tax credits to special interests. Again, the state government is picking winners and losers in the marketplace with your tax dollars.

Worst of the Week:

• The Economic Development Competitiveness Act, H. 4478, was introduced last week. The bill proposes amendments to the tax code, in particular regarding job tax credits; as well as changes to the Enterprise Zone Act (EZA) of 1995 and the Economic Impact Zone Community Development Act of 1995. H. 4478 would make the entire state an economic development zone. To read more about this bill, visit The Palmetto Insider.
• Reps. Herbkersman, Clemmons, Hosey, V.S. Moss and Willis introduced H. 4523, yet another bill creating more targeted tax breaks.

House

• H. 4147 – Study Committee on regulating flammable furniture
  • Status: Third reading, sent to the Senate
• H. 3280 – Superintendent of Education appointed by the Governor
  • Status: Debate adjourned

Senate

• H. 3272 – Point of Sale Legislation
  • Status: Debate interrupted by adjournment
• S. 901 – Powers of the Lt. Governor
  • Status: Third reading, sent to the House
• S. 1066 – Tax credit for contributions to the Manufacturers Retention and Growth Fund
  • Status: Second reading
• S. 717  – Sales and use tax exemptions for Chester County economic development project
  • Status: Second reading