A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 11-1-130 SO AS TO REQUIRE THE STATE TO ENSURE A BUSINESS WILL GIVE SOUTH CAROLINA RESIDENTS priority in employment before offering economic incentives to recruit the business to this state, and to require a business to certify certain staffing requirements before receiving an economic incentive.

 

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

 

SECTION 1.  Chapter 1, Title 11 of the S.C. Code is amended by adding:

 

    Section 11-1-130.  (A) Before attempting to entice a prospective business to this State by offering an economic incentive, the officials representing the State and its political subdivisions must ensure that the prospective business will give South Carolina residents priority in employment.

    (B) Before a business may accept an economic incentive to locate in this State, the business must sign a contract with state officials pledging that in the first year and a half of operation in this State that fifty-seven percent of its employees will be individuals who have been a South Carolina resident for at least one year.  Further, the business must pledge that fifty-seven percent of its employees at the location will be residents of South Carolina for twenty years after the initial economic incentive.  If a business makes such pledges and fails to meet the requirements thereof, then the business must pay back any incentive received plus interest.

    (C) For purposes of this section, "economic incentive" includes tax credits, deductions, exemptions, exclusions, information required by the Governmental Accounting Standards Board regarding economic incentives, fee in lieu of taxes, and other preferential tax benefits given to businesses for the purpose of recruitment in South Carolina.

 

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

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