COLUMBIA - A bill that would allow the state to borrow up to $500 million for college research and economic development projects is on its way to the governor's desk.
The Senate on Tuesday approved the final compromise of the bill that was worked out last week by a conference committee. The House already has approved the compromise.
Under the bill, tourism projects would qualify for more economic development money and a venture capital fund would be created to spur growth in new companies. It gives colleges more flexibility to condemn and buy land, give bonuses and do other things to reduce reliance on state funding.
The bill also expands the University of South Carolina's Sumter campus to a four-year program and creates a four-year culinary arts program at Charleston's Trident Technical College.
The USC Sumter provision could be a sticking point. Gov. Mark Sanford opposes that plan and could veto it.
Sen. Dick Elliott said the bill will help the state's economy.
"To help any of these industries -- tourism, manufacturing -- is to help all of us in South Carolina," said Elliott, D-Horry.
There still were some objections to the bill. Sen. Greg Ryberg, R-Aiken, said so many items had been added to the original bill that they were adding "Christmas tree bulbs to this Christmas tree."
Ryberg said it was wrong "to have no discussion on so many critical items" in the committee process.
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