---
type: "Bill"
title: "Investment of Funds by Political Subdivisions"
description: "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. - RATIFIED TITLE"
jurisdiction: "us/states/sc"
legislature: "South Carolina General Assembly"
session: "2025-2026"
identifier: "S 420"
citation: "South Carolina S 420 (2025-2026)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Young"]
version_count: 7
action_count: 21
vote_count: 2
first_action: "2025-03-05"
last_action: "2026-06-05"
source: "openstates"
source_identifier: "ocd-bill/2ed3ff0e-cd5e-4475-bfc2-ebd83ac10256"
source_url: "https://www.scstatehouse.gov/billsearch.php?billnumbers=420&session=126&summary=B"
source_hash: "13802098ad9bede90879e4bb48dcb895df8c195732c68226752b01eeac13e91e"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-sc"]
---

# South Carolina S 420 (2025-2026) — Investment of Funds by Political Subdivisions

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. - RATIFIED TITLE

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Filed** (filed) — [source](https://www.scstatehouse.gov/sess126_2025-2026/bills/420.htm)
2. **02/18/2026** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20260218.htm)
3. **02/23/2026** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20260223.htm)
4. **02/24/2026** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20260224.htm)
5. **03/05/2025** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20250305.htm)
6. **05/06/2026** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20260506.htm)
7. **05/13/2026** (committee substitute) — [source](https://www.scstatehouse.gov/sess126_2025-2026/prever/420_20260513.htm)

## Votes

- Passage of Bill — **104–3** (pass) · lower
- 2nd Reading — **44–0** (pass) · upper

## Sponsors

- Young — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2025-03-05** Introduced and read first time `introduction, reading-1`
- **2025-03-05** Referred to Committee on Finance `referral-committee`
- **2026-02-18** Committee report: Favorable with amendment Finance `committee-passage-favorable`
- **2026-02-23** Scrivener's error corrected
- **2026-02-24** Committee Amendment Adopted `amendment-passage`
- **2026-02-24** Read second time `reading-2`
- **2026-02-24** Roll call Ayes-44 Nays-0
- **2026-02-25** Read third time and sent to House `passage, reading-3`
- **2026-02-26** Introduced and read first time `introduction, reading-1`
- **2026-02-26** Referred to Committee on Ways and Means `referral-committee`
- **2026-05-06** Committee report: Favorable with amendment Ways and Means `committee-passage-favorable`
- **2026-05-12** Debate adjourned
- **2026-05-13** Amended `amendment-passage`
- **2026-05-13** Read second time `reading-2`
- **2026-05-13** Roll call Yeas-104 Nays-3
- **2026-05-14** Read third time and returned to Senate with amendments `passage, reading-3`
- **2026-05-14** Concurred in House amendment and enrolled
- **2026-05-15** Ratified R 226
- **2026-05-19** Signed By Governor `executive-signature`
- **2026-06-05** Effective date 05/19/26
- **2026-06-03** Act No. 223

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/2ed3ff0e-cd5e-4475-bfc2-ebd83ac10256`. Confidence: reported (aggregated from official South Carolina legislature records).