All Roll Calls
Yes: 148 • No: 3
South CarolinaS 0420126th General Assembly (2025-2026)Senate
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 6-5-10, RELATING TO AUTHORIZED INVESTMENTS OF FUNDS BY POLITICAL SUBDIVISIONS, SO AS TO AUTHORIZE CERTAIN INVESTMENT-GRADE CORPORATE DEBT INVESTMENTS BY QUALIFIED RETIREE POST-EMPLOYMENT BENEFITS TRUSTS AND TO PROVIDE REQUIREMENTS AND LIMITATIONS FOR SUCH INVESTMENTS.
Sponsored By: Tom Young, Jr. (Republican)
Signed by Governor
Summary
Investment of Funds by Political Subdivisions
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Local retiree trusts can buy corporate bonds
Local retiree benefit trusts can invest in notes, bonds, and other debt from U.S. companies. The debt must be investment grade from at least two of S&P Global Ratings, Moody’s, and Fitch Ratings. The lowest rating controls eligibility. If a holding falls below investment grade, the governing body must act prudently within a reasonable time. These trust assets must be tracked separately and not mixed with other local funds. This rule only applies to trusts set up to pay employer costs for retiree benefits for local government workers. It takes effect May 19, 2026.
Sponsors & Cosponsors
Sponsor
Tom Young, Jr.
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 5/13/2026
(Investment of Funds by Political Subdivisions)Passage of Bill
Yes: 104 • No: 3
Senate vote • 2/24/2026
(Investment of Funds by Political Subdivisions)2nd Reading
Yes: 44 • No: 0
Actions Timeline
Effective date 05/19/26
6/5/2026legislatureAct No. 223
6/3/2026legislatureSigned By Governor
5/19/2026GovernorRatified R 226
5/15/2026legislatureConcurred in House amendment and enrolled
5/14/2026SenateRead third time and returned to Senate with amendments
5/14/2026HouseRoll call Yeas-104 Nays-3
5/13/2026HouseRead second time
5/13/2026HouseAmended
5/13/2026HouseDebate adjourned
5/12/2026HouseCommittee report: Favorable with amendment Ways and Means
5/6/2026HouseReferred to Committee on Ways and Means
2/26/2026HouseIntroduced and read first time
2/26/2026HouseRead third time and sent to House
2/25/2026SenateRoll call Ayes-44 Nays-0
2/24/2026SenateRead second time
2/24/2026SenateCommittee Amendment Adopted
2/24/2026SenateScrivener's error corrected
2/23/2026legislatureCommittee report: Favorable with amendment Finance
2/18/2026SenateReferred to Committee on Finance
3/5/2025SenateIntroduced and read first time
3/5/2025Senate
Bill Text
Introduced
Related Bills
S 0623, AN ACT TO EXEMPT GEORGETOWN COUNTY FROM CERTAIN BUILDING REQUIREMENTS AND TO ALLOW THE COUNTY TO INSTEAD ENFORCE AE STANDARDS IN GEORGETOWN COUNTY'S FLOOD DAMAGE PREVENTION ORDINANCE.
Georgetown County Building Requirements
S 0586, AN ACT TO AMEND ACT 172 OF 1995, RELATING TO THE KERSHAW COUNTY TRANSPORTATION COMMITTEE, SO AS TO PROVIDE THAT EACH MEMBER OF THE KERSHAW COUNTY TRANSPORTATION COMMITTEE SHALL RECEIVE NINETY DOLLARS FOR EACH MEETING AT WHICH HE IS IN ATTENDANCE AND THAT THE CHAIRMAN SHALL RECEIVE ONE HUNDRED SEVENTY-FIVE DOLLARS, AND TO PROVIDE THAT SUCH PAYMENTS SHALL NOT OCCUR MORE THAN EIGHTEEN TIMES EACH FISCAL YEAR.
Kershaw County Transportation Committee
H 5653, AN ACT TO AMEND ACT 843 OF 1952, AS AMENDED, RELATING TO THE LEE COUNTY BOARD OF EDUCATION, SO AS TO CLARIFY THE METHOD BY WHICH PERSONS FILE TO BECOME A CANDIDATE FOR ELECTION TO THE BOARD, THE MANNER IN WHICH BOARD ELECTIONS ARE CONDUCTED, AND THE MANNER IN WHICH VACANCIES ON THE BOARD ARE FILLED; AND TO PROVIDE FOR THE ANNUAL COMPENSATION OF MEMBERS OF THE BOARD.
Lee County School District Board of Trustees
S 1062, A JOINT RESOLUTION TO APPROVE REGULATIONS OF THE STATE COMMISSION ON HIGHER EDUCATION, RELATING TO DETERMINATION OF RATES OF TUITION AND FEES, DESIGNATED AS REGULATION DOCUMENT NUMBER 5443, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
JR to Approve Reg. Doc. No. 5443
S 0779, A JOINT RESOLUTION TO PROVIDE THAT EACH MEMBER OF THE GENERAL ASSEMBLY SHALL RECEIVE A MONTHLY LEGISLATIVE EXPENSE ALLOWANCE OF ONE THOUSAND DOLLARS; TO PROVIDE FOR THE ALLOCATION OF LEGISLATIVE EXPENSE ALLOWANCE PAYMENTS BETWEEN MEMBERS WHOSE SEATS WERE VACATED DURING FISCAL YEAR 2025-2026 AND THE MEMBERS ELECTED TO FILL THE VACANCY; AND TO PROVIDE THAT MEMBERS OF THE GENERAL ASSEMBLY WHOSE SEATS WERE VACATED DUE TO THE MEMBER BEING CONVICTED OF OR PLEADING GUILTY OR NOLO CONTENDERE TO A FELONY ARE NOT ENTITLED TO A LEGISLATIVE EXPENSE ALLOWANCE PAYMENT PURSUANT TO THIS JOINT RESOLUTION.
Legislative Expense Allowance
H 5261, A JOINT RESOLUTION TO EXTEND THE DEADLINE FOR RECEIVING ALCOHOL SERVER TRAINING AS PROVIDED FOR IN CHAPTER 3, TITLE 61 TO MAY 1, 2026.
Alcohol Server Training