South Carolina’s Senate Finance Committee decided Tuesday to fine-tune a proposal that would establish an agribusiness and rural business tax credit program, rather than vote it to the full Senate.
Committee member State Sen. Paul Campbell, R-Berkeley, said he wants to make sure the credit is done right. “I want to be sure it goes in rural South Carolina,” he said during Tuesday’s meeting. “I want to make sure it goes to the farmers and to the rural business. And if we need to tighten it up we can certainly do that.”
Supporters hope an agribusiness and rural business tax credit program can attract capital to stimulate business development in rural areas, as well as sustain the current industry.
State Sen. John Scott, D-Richland, said the benefits would bring assets to areas which need it. “It is a bill that really has gained my attention as it relates to the rural community and making those rural kind of investments.”
Campbell said rural parts of the state are not feeling an economic recovery. “It looks at an area that’s been neglected for the biggest of this economic growth.”