SD SB185

Requires business applicants to submit a business plan detailing goods/services, job types, educational requirements, compensation packages, accounting practices, and other funding sources before receiving awards from the employer's investment in South Dakota's future fund

Limits fund awards to reimbursement of actual project costs and requires applicants to sign an agreement, provide itemized invoices with proof of payment, and demonstrate matching commitments or in-kind contributions from local entities

Mandates biannual reporting to the Joint Committee on Appropriations and Government Operations and Audit Committee on all awards, including recipient names, amounts, locations, purposes, economic impact measures, and jobs created or retained

Requires all award agreements and recommendations to be posted publicly on the state website, with exceptions for trade secrets and sensitive information

Directs the Governor's Office of Economic Development to promulgate rules establishing application processes, economic impact assessment methods, contractual requirements, disbursement procedures, and clawback provisions for failed or relocated projects