Bill to reform South Carolina infrastructure finance advances

The South Carolina House of Representatives recently approved the “South Carolina Infrastructure Finance Reform and Tax Relief Act” that will enable the South Carolina Senate to modify a $400 million infrastructure bill.


Infrastructure program progresses   Courtesy of worldatlas.com

The South Carolina House of Representatives recently approved the “South Carolina Infrastructure Finance Reform and Tax Relief Act” that will enable the South Carolina Senate to modify a $400 million infrastructure bill.

The bill, which passed the House in an 87-20 vote, was created by the Ad-Hoc Committee under Rep. Gary Simrill seven months ago. The plan seeks to reduce the state’s gas fee from 16.75 to 10.75 cents and would reinstate the 6 percent South Carolina state sales tax, which can be indexed for inflation purposes. The bill also would eliminate wholesale level tax exemptions and raises South Carolina’s sales tax cap that impacts car buyers by $300 to $500.

In addition, the bill would offer finances to counties that decide to take roads from the system under the control of the South Carolina Department of Transportation.

Representatives who voted in favor of the bill include House Speaker Jay Lucas.

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