modify the administration of the South Dakota-Ireland trade fund.

New funding rules for South Dakota–Ireland trade

The law places the South Dakota–Ireland trade fund in the state treasury to support the trade commission’s operations and work. The Legislative Research Council’s Executive Board manages the fund and provides administrative services to the commission. The fund holds money raised by or for the commission, gifts, grants, and donations, and keeps its interest. This money is available to the commission without a separate yearly appropriation; the law sets no dollar amount or household payment. Senate and House leaders appoint lawmakers and private industry representatives, while the governor appoints an executive branch officer. The Executive Board appoints a representative of a South Dakota-based association focused on international trade. Member terms begin upon appointment in odd-numbered years and end December 31 of the following even-numbered year. Vacancies are filled through the original appointment process for the rest of the term. The commission must choose a legislator as chair and meet at least once each year.