amend the process by which moneys are distributed from the employer's investment in South Dakota's future fund.

Summary

The bill sets up a special revenue fund in the state treasury using money that employers invest, and tasks the Governor’s Office of Economic Development with issuing loans and grants for research and economic projects. Loans and grants must be approved by a majority of the Board of Economic Development, and interest rates are limited to no more than 2% above the federal funds rate. All repayments go back into the fund to support new loans.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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