This bill updates the rules for how money is distributed from South Dakota's employer investment fund, which supports research and economic development projects. The Governor's Office of Economic Development must now create specific procedures covering how businesses and individuals apply for loans and grants, how economic impact is measured, what criteria determine who gets funded, how interest rates are set, and how the money is actually paid out. All loans and grants still require approval from the Board of Economic Development.
AI-generated summary
State Affairs Deferred to the 41st legislative day Passed, YEAS 5, NAYS 4. S.J. 7
State Affairs Scheduled for hearing S.J. 1
State Affairs Do Pass Amended Failed, YEAS 4, NAYS 4. S.J. 1
State Affairs Motion to amend S.J. 1
State Affairs Scheduled for hearing S.J. 1
First read in Senate and referred to Senate State Affairs S.J. 15
Prime sponsor · Rep
R
Dist. HD-016
Prime sponsor · Rep
R
Dist. SD-034
cosponsor · Sen
R
Dist. SD-011
cosponsor · Rep
D
Dist. HD-026
cosponsor · Rep
R
Dist. HD-018
cosponsor · Rep
R
Dist. HD-021
Red Foster
cosponsor · Sen
D
Dist. SD-027
cosponsor · Rep
R
Dist. HD-023
Deferred to the 41st legislative day
Do Pass Amended
Do Pass Amended