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SD SB1
Bill
Status
1/13/2026
Primary Sponsor
Taffy Howard
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AI Summary
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Transfers administration of the Employer's Investment in South Dakota's Future Fund to the Governor's Office of Economic Development for making loans and grants for research or economic development
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Requires all loans and grants from the fund to be approved by a majority vote of the Board of Economic Development
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Mandates the Governor's Office of Economic Development promulgate rules establishing application processes, economic impact assessment methods, selection criteria, and disbursement procedures
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Caps interest rates on fund loans at no more than 200 basis points above the federal funds rate set by the Federal Reserve
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Requires all loan repayments (principal and interest) to be deposited back into the fund for making new loans
Legislative Description
Amend the process by which moneys are distributed from the employer's investment in South Dakota's future fund.
Reemployment Assistance
Last Action
State Affairs Deferred to the 41st legislative day, Passed, YEAS 5, NAYS 4. S.J. 7
1/26/2026