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SC S0420
Bill
Status
Engrossed
2/25/2026
Primary Sponsor
Thomas Young
Click for details
AI Summary
- Allows qualified retiree post-employment benefit trusts maintained for political subdivision employees to invest in corporate debt instruments issued by United States corporations
- Investment-grade rating required from at least two nationally recognized credit rating organizations for eligible corporate notes, bonds, debentures, or other debt instruments
- Amends Section 6-5-10 of the South Carolina Code regarding authorized investments by political subdivisions
- Includes standard severability clause ensuring remaining provisions remain valid if any portion is found unconstitutional
- Takes effect upon approval by the Governor
Legislative Description
Investment of Funds by Political Subdivisions
Last Action
Referred to Committee on Ways and Means
2/26/2026
Committee Referrals
Ways and Means2/26/2026
Finance3/5/2025
Full Bill Text
No bill text available