PIERRE -- A compromise limiting tax rebates to construction projects costing up to $500 million headed to the full Legislature after a conference committee on Thursday worked out the details between differing bills.

As an incentive to spur development, the state now gives back a varying percentage of sales taxes and contractor's excise taxes to builders depending on the cost of the project. Those costing more than $600 million get back 90 percent.

The compromise allows rebates of 45 percent on projects costing $10 million to $40 million, and 55 percent for those of $40 million to $500 million. It would mean more revenue for the state if adopted by the House and Senate.