Bill > H4601

This bill establishes the I-95 Corridor Authority, a public body focused on improving economic conditions in 17 South Carolina counties along the I-95 corridor (including Allendale, Bamberg, Barnwell, and others). The authority will be governed by a 15-member board composed of five members appointed by state senators, five by state representatives, and five by the Governor, with specific requirements that members have expertise in education, economic development, healthcare, or business management and cannot be legislators or their family members. The board will carry out economic development, health, and educational improvement activities in member counties or adjacent qualified census tracts, with a mandate to report annually to the General Assembly on their progress. The authority will have broad powers, including the ability to adopt bylaws, enter into contracts, acquire and manage property, appoint staff, and cooperate with state and federal agencies. Funding will come from state appropriations, private and public donations, grants, and federal funds, which will be managed in a separate "I-95 Corridor Authority Fund" overseen by the State Treasurer. The authority will distribute funds as loans or grants according to guidelines they will create, and will be subject to annual audits by the State Auditor. Board members will serve three-year terms, limited to two terms, and will not receive compensation for their service.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=4601&session=126&summary=B