SC H3354

Nonprofit corporations with annual gross revenue exceeding $1 billion that lay off more than 100 employees in the same year must prepare a report for state legislators and local governments

The report must detail all economic and procedural benefits the nonprofit receives under state law (including tax credits, deductions, exemptions, and reduced administrative requirements), their monetary value, and justification for the layoffs

Reports must be delivered within 30 days of the reduction in force to the Senate Finance Committee, House Ways and Means Committee, and county governing bodies where the nonprofit operates

Each committee and local governing body must place the report on their meeting agenda within 60 days of receipt, and nonprofit representatives must be available to testify

A "reduction in force" is defined as eliminating positions without intention of replacing them