HB 1286 — amend the process by which moneys are distributed from the employer's investment in South Dakota's future fund.

26.882.3026.882.31 101st Legislative Session 1286 South Dakota Legislature House Bill 1286 HOUSEENROLLED STATEAN AFFAIRSA ENGROSSEDCT IntroducedENTITLED by:An Act to amend the process by which moneys are distributed from the employer's investment in South Dakota's future fund.

RepresentativeB OverwegE AnIT ActENACTED toBY amendTHE theL processEGISLATURE byOF whichTHE moneysS areTATE distributedOF fromS theOUTH employer'sD investmentAKOTA in: South Dakota's future fund.

B E IT ENACTED BY THE L EGISLATURE OF THE STATE OF SOUTH D AKOTA :

There is hereby created in the state treasury athe specialemployer's revenueinvestment fundin South Dakota's future fund, to be knownadministered asby the employer'sGovernor's investmentOffice inof SouthEconomic Dakota'sDevelopment, futurefor fund.the purpose of making grants or awards for research or economic development projects in this state.

Moneys in the fund must be used for purposes related to, to be administered by the Governor's Office of Economic Development, for the purpose of making grants or awards for research and or economic development for the projects in this state.

Overstrikes26.882.31 indicate2 deleted1286 language.(d) A public institution of higher education under the jurisdiction of the Board of Regents or the South Dakota Board of Technical Education;

26.882.30 2 1286 (d) A public institution of higher education under the jurisdiction of the Board of Regents or the South Dakota Board of Technical Education;

The Governor's Office of Economic Development shall provide a written report to either the Joint Committee on Appropriations or the Interim Committee on Appropriations, the House Committee on State Affairs, the House Committee on Commerce and Energy, the Senate Committee on State Affairs, Senate Committee on Commerce and Energy, and the Government Operations and Audit Committee on a biannual an annual basis the following for each award or grant made from the fund:

and (5) The number of jobs created or retained, if any;

Upon the request of the chair of a committee receiving the report, pursuant to this section, the commissioner of the Governor's Office of Economic Development shall appear Overstrikesbefore indicatethe deletedcommittee, language.to answer questions that the members of the committee may have on the report.

26.882.30HB1286 ENROLLED 26.882.31 3 1286 beforeSection the3. committee, to answer questions that the members of the committee may have on the report.

Section 3.

Upon receiving Overstrikesapproval indicatefor deletedthe language.award from the Governor, the commissioner of the Governor's Office of Economic Development and the applicant must sign the agreement required pursuant to section 4 of this Act.

26.882.30HB1286 ENROLLED 26.882.31 4 1286 approvalEach agreement for thean award fromprovided thepursuant Governor,to thethis commissionersection ofis theopen Governor'sto Officepublic ofinspection Economic Development and themust applicantbe mustposted signon the agreementstate's requiredwebsite. pursuant to section 4 of this Act.

Each agreement for an award provided pursuant to this section is open to public inspection and must be posted on the state's website.

and Overstrikes(9) indicateThe deletedprocess language.by which any moneys awarded from the fund are returned to the fund in the event of a change in the project's circumstances, the applicant's failure to HB1286 ENROLLED 26.882.31 5 1286 meet the established performance expectations, or the projects failure or relocation outside of the state.

26.882.30HB1286 5ENROLLED 26.882.31 6 1286 (9)An TheAct to amend the process by which any moneys awarded from the fund are returneddistributed tofrom the fundemployer's ininvestment the event of a change in theSouth project'sDakota's circumstances,future thefund. applicant's failure to meet the established performance expectations, or the projects failure or relocation outside of the state.

UnderscoresReceived indicateat newthis language.Executive Office I certify that the attached Act originated in this _____ day of _____________, the:

Overstrikesat indicate____________M. deleted language.

House as Bill No.

1286 By Chief Clerk of the House for the Governor The attached Act is hereby approved this ________ day of Speaker of the House ______________, A.D., 2026 Attest:

Governor Chief Clerk of the House STATE OF SOUTH DAKOTA, ss.

Office of the Secretary of State President of the Senate Filed ____________, 2026 Attest:

at _________ o'clock __M.

Secretary of the Senate Secretary of State House Bill No.

1286 By File No.

____ Asst.

Secretary of State Chapter No.

______ HB1286 ENROLLED