Latest local news, weather and high school sports from the Midlands

COLUMBIA, S.C. (AP) -- South Carolina's treasurer and House speaker are opposing the Senate's version of a bill restructuring state government, saying they worry that the way it handles the state retirement system and long-term debt could erode the state's credit rating.

Senate Majority Leader Harvey Peeler shot back saying the Senate's version is more conservative than what the House passed last year. He accused the two of supporting the status quo.

The bill creating the Department of Administration and dispersing functions of the Budget and Control Board is a signature issue for Gov. Nikki Haley. She campaigned on eliminating the agency and the powerful five-member board that oversees it.

The board consists of the governor, treasurer, comptroller general, and the chairmen of the House and Senate budget-writing committees.

(Copyright 2012 by The Associated Press. All Rights Reserved.)