Act 98 Projects
With the passage of Act 98 in 2013, the General Assembly approved the allocation of $50 million dollars per year from the South Carolina Department of Transportation to the Bank to finance bridge replacements, and rehabilitation projects, and expansion and improvement projects for existing mainline interstates. The Bank Board reviewed lists of interstate widening and improvement projects formulated by SCDOT. In December of 2013, the Joint Bond Review Committee approved implementation of financial assistance approved by the Bank Board under Act 98 not to exceed $549,402,000 and the issuance of up to $500 million in Act 98 revenue bonds for the following projects:
Greenville County – I-85/385 Interchange
Lexington County – I-20 Widening
Spartanburg & Cherokee Counties – I-85 Widening
Richland County – I-77 Widening
Richland & Lexington Counties – I-26/I-20 Interchange Preliminary Engineering
Cherokee County – Phase III of I-85 Widening Preliminary Engineering
The Bank and SCDOT are working together to invest Act 98 funds in improvements for our State's interstate highways in the most effective way possible.
SCDOT has updates on all active projects including Act 98 projects on their website-http://www.scdot.org/inside/inside.aspx.