The bill amends Section 6-5-10 of the South Carolina Code of Laws, allowing qualified retiree post-employment benefits trusts to invest in investment-grade debt instruments issued by U.S. corporations. These investments must be rated investment grade by at least two nationally recognized statistical rating organizations, and if downgraded below investment grade, the political subdivision must address the downgrade. Investments made pursuant to this item must be separately accounted for and are exclusively for retiree post-employment benefits trusts. The bill includes a severability clause, and it will take effect upon the Governor's approval.