Title 1, STATE AFFAIRS AND GOVERNMENT

There is created a Board of Economic Development and the Governor may appoint up to thirteen members to consult with and advise the Governor and the commissioner of the Governor's Office of Economic Development in carrying out the functions of the office. The members shall be con…

The Board of Economic Development, in order to implement this chapter, may: (1) Make contracts and execute all instruments; (2) Establish interest rates within the bounds as otherwise statutorily provided; (3) Collect fees and charges, as are determined to be necessary, reasonabl…

The Board of Economic Development may take title by foreclosure to any property given as security if the acquisition is necessary to protect any loan made under this chapter, and may sell, transfer, or convey any such property to any responsible buyer. Any sale of property hereun…

In addition to the members of the Board of Economic Development appointed pursuant to § 1-16G-1 , four nonvoting members shall be appointed to the board by the Legislature as follows: (1) The majority leader of the Senate shall appoint one member of the Senate; (2) The minority l…

The Board of Economic Development shall prepare an annual report by the first day of November of each year detailing the activities of the board and the terms and conditions of any grants and loans made, including the current status of outstanding loans. Source: SL 1987, ch 98 , …

Any documentary material or data made or received by the Board of Economic Development or Governor's Office of Economic Development for the purpose of furnishing assistance to a business, to the extent that such material or data consists of trade secrets or commercial or financia…

The Board of Economic Development may use the revolving economic development and initiative fund for the purpose of paying taxes and liens and for the procuring of legal services and other services necessary to protect, recover, maintain, and liquidate the assets of the revolving…

Earnings on the revolving economic development and initiative fund may be used for the administrative costs of the Division of Finance of the Governor's Office of Economic Development. Such earnings shall be expended in accordance with the provisions of Title 4 on warrants drawn …

There is established in the state treasury a special revenue fund to be known as the revolving economic development and initiative fund for the purpose of making grants and loans for economic development. Source: SL 1987, ch 98 , § 1; SL 1988, ch 17 , § 6; SDCL § 1-42-24 ; SL 200…

The commissioner of the Governor's Office of Economic Development shall authorize money from the programs provided under §§ 1-16G-50 and 1-16G-51 for the following purposes: (1) An amount to pay for any contracts entered into by the Governor's Office of Economic Development with …

Each department administering the funds created by §§ 1-16G-50 , 1-16G-51 , 11-13-2 , and 13-13-88 shall report annually to the Government Operations and Audit Committee about the operations and results of the building South Dakota programs. The Governor's Office of Economic Deve…

Any repayment of loans made and any interest thereon shall be receipted into the revolving economic development and initiative fund and all money in the fund is hereby appropriated for the purposes of making grants and loans as provided in §§ 1-16G-3 to 1-16G-11 , inclusive. The …

There is hereby created in the state treasury the local infrastructure improvement grant fund. The Board of Economic Development may award grants to any political subdivision of this state, tribal government, or local development corporation from the fund to construct or reconstr…

There is hereby created in the state treasury the economic development partnership fund. The Board of Economic Development may award grants to any nonprofit development corporation, tribal government, municipality, county, or other political subdivision of this state from the fun…

The Board of Economic Development may award funds from the economic development partnership fund for the following purposes: (1) To support new staff, or elevate existing part-time staff and equipment and training needs for the purpose of developing or expanding local, community,…

Any funds awarded under the economic development partnership fund shall be provided on a matching basis. The funds awarded to a recipient for staffing may be distributed over a four year period with forty percent being distributed in the first year, thirty percent in the second y…

The Board of Economic Development shall promulgate rules pursuant to chapter 1-26 regarding the application process and timelines, the guidelines and criteria for approval of applications, and the distribution of funds from the local infrastructure improvement grant fund. Source:…

The Board of Economic Development shall promulgate rules pursuant to chapter 1-26 regarding the application process and timelines, the guidelines and criteria for approval of applications, and the distribution of funds from the economic development partnership fund. Source: SL 20…

Terms used in §§ 1-16G-56 to 1-16G-68 , inclusive, mean: (1) "Board," the Board of Economic Development; (2) "Commissioner," the commissioner of the Governor's Office of Economic Development; (3) "Completed the project" or "completion of the project," the first date when the proj…

If the projects costs for a new or expanded facility exceeds twenty million dollars or the projects costs for equipment upgrades exceeds two million dollars, a person may apply for a reinvestment payment pursuant to §§ 1-16G-56 to 1-16G-68 , inclusive. The person shall: (1) Timel…

Before any person receives any reinvestment payment as provided in §§ 1-16G-56 to 1-16G-68 , inclusive, the person shall file an application with GOED. The application may be filed no later than ninety days after the construction date. No person may receive any reinvestment payme…

The Board of Economic Development shall review an application and make a determination of whether the project is approved or disapproved. The board shall consider the likelihood that the project would have occurred without the reinvestment payment. The board may approve a reinves…

In no event may an applicant appeal from the board's action pursuant to chapter 1-26 . Source: SL 1988, ch 17 , § 2; SDCL 1-42-28.1 .

Upon approval of the application by the Board of Economic Development, GOED shall issue a permit entitling the person to submit an affidavit for reinvestment payment as provided by § 1-16G-61 . The permit and reinvestment payment is assignable and transferable and may be used as …

Any person that has timely filed the application and is holding a permit issued by GOED, and has completed the project, shall file an affidavit for reinvestment payment with GOED. The affidavit for reinvestment payment shall contain the following information: (1) The project owne…

The affidavit for reinvestment payment as required by § 1-16G-61 shall be filed no later than six months after the completion of the project. If the affidavit for reinvestment payment is not timely filed, the person is ineligible for any reinvestment payment provided by §§ 1-16G-…

After the timely receipt of a completed affidavit for reinvestment payment, within ninety days GOED shall make payment from the reinvestment fund to the project owner based upon the amount and terms approved by the board as a reinvestment payment. If GOED requests additional docu…

There is hereby created the reinvestment payment fund for the purpose of making reinvestment payments pursuant to the provisions of §§ 1-16G-56 to 1-16G-68 , inclusive, and new frontiers payments pursuant to the provisions of §§ 1-16G-73 to 1-16G-84 , inclusive. If the board appr…

If the project is located on land that is included within the agreement area of a sales and use tax collection agreement entered into by the state and an Indian tribe pursuant to chapter 10-12A , the board may only approve a reinvestment payment that is equal to or less than the …

The name of any person that receives a reinvestment payment as provided by §§ 1-16G-56 to § 1-16G-68 , inclusive, and the amount of the reinvestment payment is public information and shall be available and open to public inspection as provided in § 1-27-1 . The following informat…

The board may promulgate rules, pursuant to chapter 1-26 , concerning the procedures and forms for applying for and receiving the reinvestment payment, the requirements necessary to qualify for the reinvestment payment, and the criteria to evaluate projects submitting application…

No person who works for a project may be employed for a commission dependent in any manner upon the approval of any government grants, loans, or reinvestment payments that the person obtains for the project. Source: SL 2013, ch 7 , § 36, eff. Mar. 20, 2013.

The Board of Economic Development may accept and expend for the purpose of §§ 1-16G-3 to 1-16G-11 , inclusive, in addition to the amounts deposited in the revolving economic development and initiative fund, any funds obtained from federal sources, gifts, contributions, or any oth…

Terms used in §§ 1-16G-73 to 1-16G-84 , inclusive, mean: (1) "Board," the Board of Economic Development; (2) "Commissioner," the commissioner of the Governor's Office of Economic Development; (3) "Completed the program" or "completion of the program," the first date when the prog…

A person may apply for a new frontiers payment pursuant to §§ 1-16G-73 to 1-16G-84 , inclusive. The person shall: (1) Timely file an application as required by § 1-16G-75 ; (2) Receive a permit from GOED pursuant to § 1-16G-77 ; (3) Timely file an affidavit for new frontiers paym…

Before any person receives any new frontiers payment as provided in §§ 1-16G-73 to 1-16G-84 , inclusive, the person shall file an application with GOED. The application may be filed no later than thirty days after the commencement date. No person may receive a new frontiers payme…

The board shall review the application and make a determination of whether the program shall be approved or disapproved. The board may approve a new frontiers payment that is equal to or less than South Dakota sales and use tax paid on the program costs. The board shall consider …

Upon approval of the application by the board, GOED shall issue a permit entitling the person to submit an affidavit for new frontiers payment as provided by § 1-16G-80 . The permit and new frontiers payment is assignable and transferable and may be used as collateral or security…

Any person holding a new frontiers permit issued by GOED and completing its program shall file an affidavit for new frontiers payment with GOED. The affidavit for new frontiers payment shall contain the following information: (1) The program owners' name and contact information; …

The affidavit for new frontiers payment as required by § 1-16G-78 shall be filed no later than six months after the completion of the program. If the affidavit for new frontiers payment is not timely filed, the person is ineligible for a new frontiers payment. If the person filin…

The Board of Economic Development shall promulgate rules pursuant to chapter 1-26 concerning the following: (1) The existing barriers to economic growth and development in the state; (2) Developing investment in research and development in high technology industries; (3) The subm…

After the timely receipt of a completed affidavit for new frontiers payment, within ninety days GOED shall make payment from the reinvestment fund established in § 1-16G-64 to the program owner based upon the amount and terms approved by the board. If GOED requests additional doc…

If a person receives a new frontiers payment under § 1-16G-80 for a program, but subsequently locates the manufacture or processing of the product resulting from the program outside of South Dakota, the person shall repay all new frontiers payments to the State of South Dakota. U…

The limitations on reinvestment payments imposed by § 1-16G-65 also apply to any new frontiers payment approved by the board. Source: SL 2016, ch 5 , § 10.

The name of any person that receives a new frontiers payment or waiver as provided by §§ 1-16G-73 to 1-16G-84 , inclusive, and the amount of the new frontiers payment or waiver, is public information and shall be available and open to public inspection as provided in § 1-27-1 . S…

The board may promulgate rules, pursuant to chapter 1-26 , concerning the procedures and forms for applying for and receiving the new frontiers payment, the requirements necessary to qualify for the new frontiers payment, and the criteria to evaluate programs submitting applicati…