Senate Agriculture & Natural Resources Committee Amendment
H 5169 - Session 125 (2023-2024)
Farmer Protection Act

The Committee on Agriculture and Natural Resources proposes the following amendment (SR-5169.KM0008S):

Amend the bill, as and if amended, SECTION 1, by striking Section 46-1-310(1) and inserting:

 (1) "Agriculture producer" means a person or company authorized to do business in South Carolina and engaged in the production of goods derived from plants or animals including the growing of crops, animal husbandry, or production of livestock or dairy products.

Amend the bill further, SECTION 1, by striking Section 46-1-310(6) and inserting:

 (6) "ESG commitment" means any purpose for a financial institution's decision to join any initiative or organization that has a purpose for its signatories' or members' customers to be aligned with any environmental, social, or political goals to deny agriculture producers financial services based on these institutions' policies on greenhouse gas emissions, use of fossil fuel-derived fertilizers, or fossil fuel-powered machinery by these agriculture producers. Evidence of an ESG commitment includes, but is not limited to, any of the following:
  (a) advertising, statements, explanations, reports, or statements of principles; and
  (b) participation in, affiliation with, or status as a signatory to, any coalition, initiative, joint statement of principles, or agreement the purpose of which is to use business activity to further environmental, social, or political goals.

Amend the bill further, SECTION 1, by striking Section 46-1-320(C) and inserting:

 (C) A financial institution may overcome the inference in subsection (B) by demonstrating that its denial or restriction of a financial service was based solely on documented risk analysis and not on any ESG commitment.