Legislators agree on bond, economic development bill

COLUMBIA, S.C. - Legislators worked out a final compromise Thursday on a bill that will allow the state to borrow up to $500 million for college research and economic development projects.

But the deal ran into trouble on the Senate floor, where legislators questioned plans to spend $7 million on an international tourism conference center in Myrtle Beach. That and other concerns prompted two senators to keep the bill from getting final approval Thursday.

"Not one bit of discussion did we have about this economic development project," Sen. Greg Ryberg, R-Aiken, said.

The conference committee's agreement "is as good as it's been explained, it will be even better aged," Ryberg said as he argued against immediate approval for a sweeping bill that bill touches most of the state one way or another.

It calls for up to $250 million in borrowing. The state's three research universities: Clemson University, the Medical University of South Carolina and the University of South Carolina would get $220 million for research projects aimed at creating jobs. The state's other 30 colleges and technical schools would get $30 million for buildings and repairs.

Proponents said it was urgent to pass the bill now so that Greenville will have a better shot at winning a large investment from a pharmaceutical company.

The bill would allow that type of project to qualify for borrowing of $250 million for land, site preparation and worker training. The company would have to invest at least $100 million and create at least 200 jobs.

But the bill has several other aspects as well, including creation of a $50 million venture capital fund to spur investment in new companies; flexibility for colleges to condemn and buy land, avoid state procurement laws and hand out bonuses; expansion of the University of South Carolina's Sumter campus to a four-year program and the creation of four-year culinary arts program at Charleston's Trident Technical College.

House Ways and Means Chairman Bobby Harrell, R-Charleston, said it's "the kitchen sink bill we've all been talking about."

The House passed the compromise with a 96-15 vote. But members questioned the wisdom of giving colleges too much freedom. House Education and Public Works Chairman Ronny Townsend, R-Anderson, questioned letting colleges build regardless of cost.

Harrell said he would work on separate legislation to eliminate that.

But most of the dispute came in the Senate.

The bill is "another case of taking good legislation and adding and adding until the thing becomes a Christmas tree," said Sen. Greg Gregory, R-Lancaster, who opposed expanding college programs.

Ryberg questioned why Myrtle Beach should get help in a tourism project. Leatherman countered that tourism and its jobs are a driving force in the economy, but ultimately agreed to wait until next week to take up the bill.