COLUMBIA, S.C. (AP) - A Senate subcommittee said Thursday that Santee Cooper should not be able to sell some of its property and give the money to other state agencies.
Gov. Mark Sanford's budget proposal calls for $13 million generated from selling the state-owned utility's surplus property to be used for a variety of state programs, including the marketing and promotions for the Parks, Recreation and Tourism Department.
"It's a horrible precedent," said Sen. Luke Rankin, D-Myrtle Beach.
Santee Cooper shouldn't become a cash cow for funding state operations. If the utility sells property, the money generated should be used to reduce debt or rates for customers, Rankin said.
