South Carolina 2025-2026 Regular Session Status: In Committee

H 3421 — Public Employee Retirement Fund Investments

Last action — Referred to Committee on Ways and Means

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced December 05, 2024. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Stalled 22% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 5 sponsors

    5 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 9-16-57 SO AS TO PROVIDE THAT THE RETIREMENT INVESTMENT COMMISSION MAY NOT INVEST PUBLIC EMPLOYEE RETIREMENT FUNDS IN CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY.

Bill Text

What changed in the latest version

40 added · 18 removed

Plain-language change summary

The amended version of Bill H 3421 adds a new section to South Carolina law that prohibits the Retirement Investment Commission from investing public employee retirement funds in companies that are either owned by, controlled by, or located in the People’s Republic of China or affiliated with the Chinese Communist Party. This change is significant as it aims to safeguard the state's retirement funds from potential economic risks and ethical concerns by avoiding investment in entities that may conflict with national interests, especially in the context of rising tensions between the U.S. and China.

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2025-2026 Bill 3421 Text of Previous Version (Dec.
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06, 2024) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 3421Indicates Matter StrickenIndicates New Matter(Text matches printed bills.
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Document has been reformatted to meet World Wide Web specifications.)                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 9-16-57 SO AS TO PROVIDE THAT THE RETIREMENT INVESTMENT COMMISSION MAY NOT INVEST PUBLIC EMPLOYEE RETIREMENT FUNDS IN CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY.
  Be it enacted by the General Assembly of the State of South Carolina:
  SECTION 1.  Article 1, Chapter 16, Title 9 of the S.C.
Code is amended by adding:
      Section 9-16-57.
(A) The commission may not invest public employee retirement funds, in any manner, in the obligations of any company or development:
       (1) owned or controlled by a company that is owned, in whole or in part, by, or is a subsidiary of, a company that is owned by the People's Republic of China or the Chinese Communist Party;
or        (2) whose principal place of business is located within the People's Republic of China.
    (B) For purposes of this section:
       (1) "Chinese Communist Party" includes all agencies, institutions, and instrumentalities of the Chinese Communist Party.
       (2) "Company" or "development" means a sole proprietorship, organization, association, corporation, partnership, trust, venture, group, subgroup, or any other entity or organization, its subsidiary or affiliate that exists for profit making purposes or to otherwise secure economic advantage.
       (3) "Peoples' Republic of China" includes all agencies, institutions, instrumentalities, and political subdivisions of the People's Republic of China.
  SECTION 2.  This act takes effect upon approval by the Governor.
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Action History

  1. Referred to Committee on Ways and Means

  2. Introduced and read first time

  3. Referred to Committee on Ways and Means

  4. Prefiled

Sponsors

Sponsorship breakdown

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5 sponsors · 0 co-sponsors · 165 not signed on

Sponsors (5)

Co-sponsors (0)

None.

Not signed on (165)

165 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

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Frequently asked questions

What does H 3421 do?
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 9-16-57 SO AS TO PROVIDE THAT THE RETIREMENT INVESTMENT COMMISSION MAY NOT INVEST PUBLIC EMPLOYEE RETIREMENT FUNDS IN CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY.
Who sponsors H 3421?
H 3421 is sponsored by Representative Steven Wayne Long, Representative Josiah Magnuson, Representative Fawn M. Pedalino, Representative John R. McCravy III, and Representative William M. "Bill" Chumley.
What is the current status of H 3421?
This bill is in committee in the House. Introduced December 05, 2024. It must pass committee before a floor vote.
Where can I track H 3421?
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