(Columbia-AP) March 4, 2004 -- The Legislative Rural Caucus has introduced a bill that the group says will make sure money reaches rural areas for economic development and job creation.
The proposal would create the South Carolina Rural Infrastructure Bank. The bank would reorganize and prioritize where money is spent. The bank would set up a $48 million trust fund specifically for rural projects.
It also would bring in $25 million in federal match dollars. Rural towns can then compete for grant money to complete projects, such as setting up water and sewage lines needed to attract businesses.
Representative Jay Lucas says money for rural South Carolina currently is placed in a general fund, but often is used elsewhere. The Hartsville Republican says no new taxes or personnel will be need to create the bank.
Posted 8:53pm by Brett Witt
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