SC H4697

Prohibits all South Carolina state agencies, institutions (including the State Treasurer and Retirement System Investment Commission), and political subdivisions (including school districts) from investing public funds in Chinese companies

Bans state agencies, institutions, and political subdivisions from contracting with or expending public funds with Chinese companies

Prohibits the Department of Commerce from offering or awarding any incentives or development grants to Chinese companies, and requires companies receiving state incentives to agree not to contract with prohibited Chinese companies

Defines "Chinese company" as any company owned or controlled by the People's Republic of China or the Chinese Communist Party, or any company whose principal place of business is in China

Defines "incentive" broadly to include tax credits, deductions, exemptions, fees in lieu of taxes, subsidies, rebates, Governor's Closing Fund awards, and other preferential tax benefits for business recruitment