What Happened: Weekly Legislative Review- March 29th to April 1st

What Happened: Weekly Legislative Review- March 29^th to April 1^st

Highlights:

·         The House was in furlough this week.

·         The Senate and House will be furloughed the week of April 6^th, and will reconvene April 13^th.

·         The Senate Finance Subcommittee on Sales and Income Tax met again to discuss a comprehensive strike and insert amendment to H. 4478. The amendment was not adopted. The subcommittee is expected to meet again April 12^th.

The Best of the Week

·         The Senate adopted an amendment to S. 1054 – a bill authorizing tax incentives and credits for the retail shopping mall in Jasper County. The amendment deleted the provision that allowed the retail mall to receive tax credits through the General Fund, as well as provides that the new capital investment be private not public.    

The Worst of the Week

• S. 1323 – I-95 Corridor Authority Act
  • A bill creating the I-95 Corridor Authority – an agency that would have the power to enter into contracts, and carry out economic development and educational improvement activities in counties within 30 miles of I-95.
• S. 1339 – I-85 Cherokee-Spartanburg Corridor Authority Act
  • A bill creating the I-85 Cherokee-Spartanburg Corridor Authority – an entity that would have the power to enter into contracts, solicit donations, and receive state funds as appropriated by the General Assembly.
• H. 3584 – Cigarette Tax
  • Senators amended and gave second reading to a 50-cent tax increase on Wednesday. The Senate version directs $3.5M of the revenue created through the cigarette tax to fund the I-95 Corridor Authority’s infrastructure improvements. Revenue will also go to cancer research, the Smoking Prevention and Cessation Trust Fund, agricultural marketing and a Medicaid Reserve Fund.