South Carolina General Assembly
125th Session, 2023-2024

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Indicates New Matter

H. 3510

STATUS INFORMATION

General Bill
Sponsors: Reps. Long, Beach, Burns, Chumley, B.J. Cox, Cromer, Haddon, Harris, S. Jones, Kilmartin, Magnuson, May, McCabe, A.M. Morgan, T.A. Morgan, O'Neal, Oremus, Pace, Trantham, White, McCravy, Leber, Landing, Yow and Mitchell
Companion/Similar bill(s): 163, 3118, 3509, 3567
Document Path: LC-0025DG23.docx

Introduced in the House on January 10, 2023
Currently residing in the House

Summary: Prohibition of incentives

HISTORY OF LEGISLATIVE ACTIONS

Date Body Action Description with journal page number
12/15/2022 House Prefiled
12/15/2022 House Referred to Committee on Ways and Means
1/10/2023 House Introduced and read first time (House Journal-page 193)
1/10/2023 House Referred to Committee on Ways and Means (House Journal-page 193)
2/1/2023 House Member(s) request name added as sponsor: Landing
3/1/2023 House Member(s) request name added as sponsor: Yow, Mitchell

View the latest legislative information at the website

VERSIONS OF THIS BILL



A bill

to amend the South Carolina Code of Laws by adding Section 13-1-55 SO AS TO PROHIBIT THE DEPARTMENT OF COMMERCE FROM OFFERING OR AWARDING INCENTIVES TO CERTAIN COMPANIES OWNED OR CONTROLLED BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY, AND TO PROHIBIT ANY COMPANY RECEIVING AN INCENTIVE FROM CONTRACTING WITH SUCH PROHIBITED COMPANIES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1.   Article 1, Chapter 1, Title 13 of the S.C. Code is amended by adding:

   Section 13-1-55.   (A)   The Department of Commerce, including any division thereof, may not offer or award any incentive or development grant to any company or development that is at least fifty percent owned or controlled by a company that is owned, in whole or in part, by, or is a subsidiary of, a company that is owned by the People's Republic of China or the Chinese Communist Party.

   (B)   Any company who is offered or awarded incentives from the department must sign a statement agreeing that the company will not contract with any company prohibited from receiving an incentive or grant pursuant to subsection (A).

   (C)   For purposes of this section:

      (1)   "Company" or "development" means a sole proprietorship, organization, association, corporation, partnership, venture, or other entity, its subsidiary or affiliate that exists for profit making purposes or to otherwise secure economic advantage.

      (2)   "Incentive" or "development grant" means tax credits, deductions, exemptions, exclusions, fees in lieu of taxes, monetary benefits, subsidies, rebates, information required by the Governmental Accounting Standards Board regarding economic incentives, awards from the Governor's Closing Fund, assistance from the State provided on a discretionary basis to attract or retain business operations, and other preferential tax benefits given to businesses for the purpose of recruitment.

SECTION 2.   This act takes effect upon approval by the Governor.

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This web page was last updated on May 28, 2024 at 12:53 PM