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Bill > H3509


SC H3509

SC H3509
Investments, authorized for political subdivision


summary

Introduced
01/10/2023
In Committee
01/10/2023
Crossed Over
Passed
Dead
05/09/2024

Introduced Session

125th General Assembly

Bill Summary

A bill to amend the South Carolina Code of Laws by amending Section 6-5-10, RELATING TO AUTHORIZED INVESTMENTS OF A POLITICAL SUBDIVISION, so as to PROHIBIT EACH POLITICAL SUBDIVISION FROM INVESTING IN CERTAIN COMPANIES OWNED OR CONTROLLED BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY OR WHOSE PRINCIPAL PLACE OF BUSINESS IS LOCATED WITHIN THE PEOPLE'S REPUBLIC OF CHINA.

AI Summary

This bill amends the South Carolina Code of Laws to prohibit each political subdivision, such as municipalities, counties, and school districts, from investing in companies that are owned or controlled by the People's Republic of China or the Chinese Communist Party, or whose principal place of business is located within the People's Republic of China. The bill defines key terms like "Chinese Communist Party" and "People's Republic of China" to clarify the scope of the prohibition.

Committee Categories

Budget and Finance

Sponsors (26)

Last Action

Member(s) request name added as sponsor: Yow, Mitchell (on 03/01/2023)

Bill Topics

International Affairs and Foreign Aid
  • ‐ Specific Country and Regional Issues
Local Government
  • ‐ General Local Government

bill text


bill summary

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