State Transportation Commission Earmarks Interstate Roads For Funding

Improvements on some 90 miles of interstate highways in South Carolina could move closer to fruition if the Transportation Infrastructure Bank accepts the recommendation of the S.C. Department of Transportation Commission.
The commission designated seven major interstate improvement projects to be funded with bond proceeds approved by the General Assembly in the 2013 session. The commission approved a resolution July 18th urging the Transportation Infrastructure Bank board to “fully utilize and adhere to the South Carolina Department of Transportation Commission’s recommendations” for projects to be financed.

Governor Haley signs law providing employer’s with relief on unemployment insurance

Gov. Nikki Haley has signed into law enabling legislation to give employers some relief on the new and much higher taxes levied on employers since Jan. 30.

The law does the following:

  • Directs that the appropriations go toward state unemployment tax relief for businesses in tiers 2 through 20, which results in reductions up to 25% for 2011.
  • State unemployment tax reductions are retroactive to January.
  • Seasonal employees may be ineligible for unemployment benefits, resulting in a 3% reduction in state unemployment tax costs to businesses.
  • New companies come in at tier 12 for the first 12 months, which is a savings of approximately $200 per employee per year for new companies.
  • For 2011, companies on a payment plan will pay 0.25% penalty per month (previously set at 1% per month).
  • Companies that have a positive state unemployment tax balance will be in no class higher than class 12 for 2011 only.
  • Reduction of benefits for the newly unemployed to 20 weeks from 26 weeks, resulting in an 8% reduction in overall state unemployment tax costs to businesses.

Read the complete story at Columbia Regional Business Report by clicking here.