On Wednesday, the South Carolina House finished their work on next year’s $10.7 billion budget. The House and Senate will now go to conference to hammer out their differences. The conference committee will meet over the next couple of weeks, before both chambers return on June 21, to vote on the conference report sending the budget to the Governor’s desk before the new fiscal year begins July 1. Here are some of the highlights of the House’s budget:

• $1,000 increase in teachers pay
• Increase the minimum pay for first-year teachers from $35,000 to $36,000
• A 3% pay increase for state employees
• $19 million for pay increases for police officers
• $200 million for the State Ports Authority Navy Base Intermodal Facility (NBIF) and Barge operation
• A Nurse and Resource Officer in each school
• $250 million set aside for rainy day fund in case of economic downturn
• $440 million for college and universities for deferred maintenance to buildings and not raise tuition

After nearly four years, we finally have a resolution on the fate of Santee Cooper. On Tuesday, both the House and Senate agreed to a conference report that would reform and not sell Santee Cooper, the state’s largest asset. The bill that heads to the Governor’s desk will keep the utility state-owned and will give its two million ratepayers more influence in major decisions and rate increases. It gives the Office of Regulatory Staff more oversight over Santee Cooper where before they had none. The entire board of directors will be removed by the end of 2024 and replaced by more qualified individuals. The reform package also gives the General Assembly more control over Santee Cooper’s debt service and compensation plans for top executives.

The bill now goes to the Governor’s desk where we await his decision to veto or sign the reform bill into law. Even if Governor McMaster vetoes the bill, the reform package passed by unanimous votes in both the House and Senate.

Once the budget work is done at the end of the month for the new fiscal year, the House and Senate will return later this fall to spend the nearly $2.5 billion dollars from the American Rescue Plan passed earlier this year in Congress.