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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 27-1-80 SO AS TO PROVIDE THAT CERTAIN COMPANIES OWNED, IN WHOLE OR IN PART, BY THE PEOPLE'S REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY MAY NOT OWN, LEASE, POSSESS, OR EXERCISE ANY CONTROL OVER MORE THAN ONE HUNDRED ACRES OF REAL ESTATE IN THIS STATE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 1, Title 27 of the 1976 Code is amended by adding:
"Section 27-1-80. (A) Any company or development 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 whose principal place of business is located within the People's Republic of China may not own, lease, possess, or exercise any control over more than one hundred acres of real estate in this State.
(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) 'People's 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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