South Carolina H 3354: Nonprofits

Bill Text

2025-2026 Bill 3354 Text of Previous Version (Dec. 06, 2024) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 3354

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 
2-1-260 SO AS TO REQUIRE A NONPROFIT CORPORATION THAT HAS AN ANNUAL GROSS 
REVENUE EXCEEDING ONE BILLION DOLLARS THAT IMPOSES A REDUCTION IN FORCE OF MORE 
THAN ONE HUNDRED EMPLOYEES TO PREPARE AND PRESENT A REPORT TO CERTAIN 
COMMITTEES AND ENTITIES DETAILING ALL ECONOMIC AND PROCEDURAL BENEFITS MADE 
AVAILABLE TO IT AND WHY IT WAS NECESSARY TO IMPOSE THE REDUCTION IN FORCE.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Chapter 1, Title 2 of the S.C. Code is amended by 
adding:

 Section 
2-1-260. (A) If a nonprofit 
corporation located in this State has an annual gross revenue exceeding one 
billion dollars and in the same year imposes a reduction in force of more than 
one hundred employees, then the nonprofit corporation must prepare a report 
detailing all of the economic and procedural benefits set forth in the S. C. 
Code that the nonprofit corporation is eligible to avail itself of due to its 
status as a nonprofit corporation. The report also must set forth the monetary 
value of such benefits, the reasons why each benefit is necessary to its 
operation, and why it was necessary to impose the reduction in force. The 
report must be delivered to the Senate Finance Committee, the House Ways and 
Means Committee, and to the local governing body of each county in which the 
nonprofit corporation is located no more than thirty days after the reduction 
in force is imposed. Each committee or local governing body must place the 
report on its meeting agenda within sixty days of receipt. If the General 
Assembly is not in session when the report is received, then the report must be 
placed on each committee's agenda within sixty days of session being convened. 
The nonprofit corporation must make its representatives available to testify at 
each meeting.

 (B) For 
purposes of this section:

 (1) economic 
and procedural benefits include tax credits, deductions, exemptions, 
exclusions, other preferential tax benefits, and the elimination of 
administrative requirements;

 (2) a 
reduction in force occurs when a position is eliminated without the intention 
of replacing the position.

SECTION 2. This act takes effect upon approval 
by the Governor.

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This web page was last updated on December 06, 2024 at 11:47 AM