COLUMBIA, S.C. — According to Richland County, the Penny Tax program is going better than expected, bringing in more money than the county had initially projected.
There was a crowded room inside the Richland County administrative building on Thursday for the State of the Penny update. Members of the Richland County Transportation Advisory Committee and representatives from SCDOT and the COMET Bus System presented updates to the decade-old penny program.
"Like Richland County, SCDOT realized back in the early 2010s that current transportation funding levels were inadequate to meet the demands of a growing state with aging infrastructure and the fourth largest state-maintained roadway system in the country," SCDOT representative John Boylston said.
According to the county, over the last 10.6 years, the Penny Tax total revenue collected topped $710 million, 66% of the anticipated goal amount. The county also said all projects, including road widening, greenway expansion, and road renovations scheduled for the penny tax, are on schedule to be completed on time.
"We have forecasted our projects going forward. We've added 20% inflation to the approved project estimates. and then we ran that down against the available fund and we found that there's $70 million available that we're not planning to use. So, that's very helpful," Richland County Director of Public Works Michael Maloney said.
In 2016, The South Carolina Department of Revenue withheld payment of Penny Tax money to Richland County over continued concerns about how the county was spending the funds.
County Council Chair Overture Walker said no wrongdoing was found in an investigation.
"I can tell you unequivocally that the matter was resolved in a manner in which the Department of Revenue and the county were pleased with," Walker said. "I think it's also important for residents to know there was no finding of waste, no finding of fraud, no finding of corruption, or abuse of funds."
The COMET bus system uses a third of the Penny Tax funds. Public Information Officer Pamela Bynoe-Reed said in the past 10 years, that money has been used to expand services.
"[Total bus milage] has increased 41% from about 1.6 million miles in 2012 and as we've gone through the past ten years, we've reached over 2.3 million miles in 2021," Bynoe-Reed said.
The meeting came just a month after the county council approved a measure that would begin work to put a penny tax renewal question on the November 2024 ballot.
Walker said he hopes people see the last 10 years as successful when voting.
"Without a penny sales tax, these buses will most likely stop after 2028, and, of course, the county, we want to improve the quality of life for our residents and continue to improve infrastructure in the county," Walker said.
Eric Cue, a resident in attendance, says he plans to vote in favor of the renewal.
"A third of that penny tax goes towards the COMET, which is how I get around," Cue said. "So yes, I will vote for that particular tax."