summary
Introduced
01/10/2023
01/10/2023
In Committee
01/10/2023
01/10/2023
Crossed Over
Passed
Dead
05/09/2024
05/09/2024
Introduced Session
125th General Assembly
Bill Summary
A bill to amend the South Carolina Code of Laws by adding Section 9-16-57 so as to PROVIDE THAT THE RETIREMENT INVESTMENT COMMISSION MAY NOT INVEST PUBLIC EMPLOYEE RETIREMENT FUNDS IN CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY.
AI Summary
This bill amends the South Carolina Code of Laws to prohibit the Retirement Investment Commission from investing public employee retirement funds in any company or development that is 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 such as "Chinese Communist Party" and "company or development" to provide clarity on the scope of the restrictions. The bill takes effect upon approval by the Governor.
Committee Categories
Budget and Finance
Sponsors (24)
Steven Long (R)*,
Thomas Beach (R),
Mike Burns (R),
Bill Chumley (R),
Bobby Cox (R),
April Cromer (R),
Patrick Haddon (R),
Robert Harris (R),
Stewart Jones (R),
Jay Kilmartin (R),
Kathy Landing (R),
Matthew Leber (R),
Josiah Magnuson (R),
R.J. May (R),
Ryan McCabe (R),
Cody Mitchell (R),
Adam Morgan (R),
Timothy Morgan (R),
David O'Neal (R),
Melissa Oremus (R),
Jordan Pace (R),
Ashley Trantham (R),
Joe White (R),
Richie Yow (R),
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
Labor and Employment
- ‐ Employee Benefits
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=3567&session=125&summary=B | 12/15/2022 |
| BillText | https://www.scstatehouse.gov/sess125_2023-2024/prever/3567_20221215.htm | 12/15/2022 |
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