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Compromise could provide $800M for SC roads

By SEANNA ADCOXAssociated Press

COLUMBIA, S.C. (AP) - Legislators say a tentative agreement could provide up to $800 million for road and bridge work across South Carolina.

A three-part compromise approved Monday by a panel of House and Senate members would put up to $141 million in state taxes toward infrastructure in the next fiscal year.

The legislation specifies that $50 million would go the State Infrastructure Bank to fund major projects through borrowing, and $41 million from the state sales tax on vehicles would repair secondary roads. It would use up to $50 million in surplus money for bridge repair.

Borrowing and federal highway matches could push the total to more than $798 million.

The Senate's Republican and Democratic leaders agree the infrastructure compromise was critical for reaching an agreement on the overall budget for 2012-13.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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