The bill H. 5813 proposes the establishment of the South Carolina Community Investment Fund by adding Article 7 to Chapter 11, Title 11 of the South Carolina Code of Laws. This fund aims to support capital improvements, infrastructure projects, and equipment or real property investments by eligible entities, which include political subdivisions like school districts but exclude state agencies and private organizations. The bill outlines the conditions for appropriating funds, including a per-district allocation formula, and mandates that the fund be administered by the Executive Budget Office in consultation with the Revenue and Fiscal Affairs Office. It also specifies that appropriations to the fund can only occur if projected general fund revenue exceeds certain financial obligations, with a maximum annual appropriation set at $24.8 million.

Additionally, the bill includes provisions for transparency and accountability, requiring that community investments be certified by the respective members of the House or Senate and publicly posted before disbursement. It prohibits the redirection of funds to private entities, ensures that members of the General Assembly cannot have a financial interest in the entities receiving funds, and mandates that any unspent funds be returned to the state treasury after three years. The Executive Budget Office is tasked with maintaining a public record of all certified investments, and the Legislative Audit Council may conduct audits to ensure compliance with the bill's requirements. The act will take effect upon the Governor's approval and will first apply to appropriations for the Fiscal Year 2027-2028.