Title 1, STATE AFFAIRS AND GOVERNMENT

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…

The Legislature finds and declares: (1) That the State of South Dakota and the northern plains region of the United States are underrepresented and underdeveloped in the areas of scientific and technological investigation, experimentation, and development; (2) That fostering and …

The board shall meet on the call of the chair, upon the written request of four members of the board, or upon the request of the executive director. Source: SL 2004, ch 15 , § 10.

A majority of the voting members of the board constitutes a quorum for the transaction of business. Any official act of the authority requires the affirmative vote of at least four voting members of the board at a meeting of the board at which the members casting those affirmativ…

Notwithstanding any other law to the contrary it is not a conflict of interest for a trustee, director, officer, or employee of any health institution, educational institution, financial institution, investment banking firm, brokerage firm, commercial bank or trust company, archi…

Each meeting of the authority for any purpose whatsoever shall be open to the public as required by chapter 1-25 . Notice of meetings shall be as provided in the bylaws of the authority. Resolutions need not be published or posted. Source: SL 2004, ch 15 , § 13.

The executive director or other person designated by the authority shall keep a record of the proceedings thereof and shall be custodian of all books, documents, and papers filed with the authority, the minute books or journal of the authority and its official seal. The executive…

The authority may: (1) Have perpetual succession as a body politic and corporate exercising essential public functions; (2) Sue and be sued in its own name; (3) Have an official seal and alter the seal at will; (4) Maintain an office at such places within the state as the authori…

The authority may, pursuant to chapter 1-26 , promulgate rules necessary to regulate the authority's affairs, to carry into effect the powers and purposes of the authority, and to conduct its business, including rules to: (1) Establish application procedures for grants and loans …

Loans and grants made by the authority pursuant to the terms of this chapter shall be upon such terms and conditions as the authority may deem necessary, and may be with or without interest and on a secured or unsecured basis. Source: SL 2004, ch 15 , § 17.

The authority may invest any funds not needed for immediate investment in the following: (1) Bonds, notes, certificates of indebtedness, treasury bills, or other securities constituting direct obligations of, or obligations the principal of and interest on which are fully guarant…

In addition to the investments authorized by § 1-16H-18 , the authority may invest any funds of the authority in an account with the State Investment Council pursuant to chapter 4-5 . Source: SL 2005, ch 11 , § 1.

The authority may issue revenue bonds, notes, or other evidences of indebtedness to pay the cost incurred in connection with developing, constructing, acquiring, improving, maintaining, operating, and decommissioning projects. For the purpose of evidencing the obligations of the …

The purpose of the authority created by this chapter is to foster and facilitate scientific and technological investigation, experimentation, and development by creating a mechanism through which laboratory, experimental, and development facilities may be acquired, developed, con…

Any holder of any revenue bonds, notes, or other instruments issued by the authority may bring suits at law or proceedings in equity to compel the performance and observance by any corporation or person or by the authority or any of its agents or employees of any contract or cove…

If the authority fails to pay the principal of or interest on any of the revenue bonds or premium, if any, as the principal or interest becomes due, a civil action to compel payment may be instituted in the appropriate circuit court by the holder or holders of the revenue bonds o…

Notwithstanding the form and tenor of any such revenue bonds, notes, or other instruments and in the absence of any express recital on the face of any such revenue bond, note, or other instruments that it is non-negotiable, all such revenue bonds, notes, and other instruments are…

To secure the payment of any or all of such revenue bonds, notes, or other instruments, the revenues to be received by the authority from a lease agreement or loan agreement shall be pledged, and, for the purpose of setting forth the covenants and undertakings of the authority in…

The revenue bonds or notes shall be secured as provided in the authorizing resolution which may, notwithstanding any other provision of this chapter, include in addition to any other security a specific pledge or assignment of and lien on or security interest in any or all revenu…

The State of South Dakota pledges to and agrees with the holders of the revenue bonds and notes of the authority issued pursuant to this chapter that the state will not limit or decrease the rights and powers vested in the authority by this chapter so as to impair the terms of an…

Nothing in this chapter may be construed to authorize the authority to create a debt of the state within the meaning of the Constitution or statutes of South Dakota and all revenue bonds, notes, other instruments and obligations issued by the authority pursuant to the provisions …

The state and all counties, municipalities, political subdivisions, public bodies, public officers, banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, personal representatives, conservators, trustees, an…

Any documentary material or data made or received by the authority for purposes under this chapter, to the extent that such material or data consists of trade secrets, scientific or technical secrets, matters involving national security, or commercial or financial information reg…

The authority may acquire title to any project with respect to which it exercises its authority. Source: SL 2004, ch 15 , § 29.

Terms used in this chapter mean: (1) "Authority," the South Dakota Science and Technology Authority created by this chapter; (2) "Board," the board of directors of the authority; (3) "Project," any undertaking that includes surface and underground real and personal property, incl…

The authority may acquire by purchase, lease, gift, or otherwise any property or rights to any property from any person or any governmental agency, whether improved for the purposes of any prospective project or unimproved. The authority may also accept any donation of funds for …

The authority may acquire, develop, construct, improve, maintain, operate, and decommission any project, either under its own direction or through collaboration with any approved applicant, or acquire any project through purchase or otherwise, using for that purpose the proceeds …

For the purpose of §§ 1-16H-31.1 to 1-16H-31.10 , inclusive, the term, subsurface property, means complete fee title to real property located one hundred feet or more below the surface, including the right to use such real property to construct, operate, support and maintain unde…

The provisions of chapters 45-4 and 45-5A do not apply to subsurface property rights taken by the authority pursuant to §§ 1-16H-31.1 to 1-16H-31.10 , inclusive. Source: SL 2005, ch 12 , § 10.

The authority may condemn private and public subsurface property for public use for the purposes of acquiring, developing, constructing, maintaining, or operating projects. The authority may only condemn subsurface property upon or through which it already owns or controls some, …