This bill amends South Carolina law to prohibit nonprofit corporations with annual gross revenues exceeding $1 billion from using noncompete covenants (legally binding agreements that restrict employees from working for competitors) with their current, former, and future employees. The bill’s preamble explains that while noncompete agreements are generally permitted under common law, the state legislature believes that nonprofit entities, which are often formed using public funds and do not pay income taxes, should be held to a higher standard. Specifically, the bill renders any existing noncompete agreements for such nonprofits automatically null and void, and prevents these organizations from creating new noncompete agreements with employees in the future. The law is intended to protect employees’ ability to work and move between jobs, particularly in sectors related to public health and safety, and takes effect upon the Governor’s approval.