Senate committee approves issuance of bonds for port deepening if needed
COLUMBIA — The Senate Finance Committee this afternoon approved a measure that would allow the state to issue $120 million in bonds to deepen the Charleston port if federal funding for the work falls through.
Sen. Kevin Bryant, R-Anderson, was the only committee member to vote against the bill, and he said he will issue a minority report noting his opposition.
Bryant said he doesn’t want the state to take on the additional debt.
The full Senate will be unable to vote on the bill unless Bryant lifts his report or two-thirds of the senators vote to override it.
Finance Committee Chairman Hugh Leatherman, R-Florence, introduced the measure.
He wants the state to have the option of issuing the bonds if the federal government can’t pay its portion of the $300 million it will take to deepen the port.
The House included $180 million for the project in the budget it passed earlier this session.
Read more in tomorrow’s editions of The Post and Courier