COLUMBIA -- The Senate on Tuesday passed an economic development bill meant to reward South Financial's planned headquarters expansion in Greenville with the same tax incentives granted other businesses.

The South Financial Group, parent of Carolina First Bank in the Carolinas and Mercantile Bank in Florida, announced this year that it had decided to expand its Greenville headquarters, a move officials said could bring 600 well-paying jobs and a $100 million investment.

The bill passed Tuesday is the House version of the legislation. The Senate added some technical amendments, which now must go before the House.

The legislation would grant incentives for new jobs, new construction or the establishment of corporate headquarters for any bank with 40 or more eomployees that create a regional or national headquarters in South Carolina, lawmakers have said.

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In the last five years, no bank has established its corporate headquarters in the state, according to the legislation. The tax incentives have already been granted other types of business, the legislators said.

The Legislature is scheduled to adjourn June 1.