The bill S. 665 proposes the establishment of the "South Carolina-Bahamas Trade Commission" by adding Chapter 80 to Title 39 of the South Carolina Code of Laws. The commission aims to enhance bilateral trade and investment between South Carolina and The Bahamas and will consist of fifteen members appointed by various state leaders, including the Speaker of the House, the President of the Senate, and the Governor. The appointments will include representatives from state government, higher education institutions, and the Bahamian-American community, with specific terms for each group of appointees. The commission will operate without compensation for its members, who may be reimbursed for expenses, and will be responsible for reporting its findings and recommendations to the Governor and the General Assembly annually.

Additionally, the commission is authorized to raise funds through solicitation and fundraising events, and it can accept gifts and grants to support its activities. The bill outlines the commission's purposes, which include promoting business exchanges, encouraging mutual economic support, and addressing policy issues of mutual interest. The commission is also granted the ability to operate with some exemptions from existing financial regulations to facilitate its administrative functions. The act will take effect upon the Governor's approval.