COLUMBIA -- A senator from Orangeburg has placed a hold on legislation that would reward South Financial's planned headquarters expansion in Greenville with the same tax incentives granted other businesses.
Sen. Brad Hutto, an Orangeburg Democrat, placed his name on the bill last week, saying he had questions about it. The action is significant in the Senate, where a single member can hold up legislation, especially late in the legislative session.
Hutto has not voiced any complaints about the bill. He told The Greenville News that he would decide today whether to remove his hold on the bill "as soon as I find out what it does."
The bill would grant tax incentives to banks that increase jobs or move their corporate headquarters to South Carolina.
Advertisement |
![]() |
The legislation is on the Senate floor and has passed a House subcommittee without objections.
Hutto's hold could mean simply a delay.
Sen. David Thomas, a Greenville Republican and the bill's chief Senate sponsor, said if Hutto doesn't remove his objection, he will try to have it placed on special order, a designation usually reserved for weighty issues, such as property tax relief, to move the matter ahead.
The legislation would grant incentives for new jobs, new construction or the establishment of corporate headquarters for any bank that has its regional or national headquarters in South Carolina.
The South Financial Group, parent of Carolina First Bank in the Carolinas and Mercantile Bank in Florida, has announced it plans to expand its Greenville headquarters, a move officials said could bring 600 well-paying jobsand a $100 million investment.