establish a post-employment restriction for employees of the Governor's Office of Economic Development and create a penalty therefor.

HB 1221 prohibits employees of South Dakota's Governor's Office of Economic Development from working for, or accepting compensation from, any entity that received financial assistance from the office during their employment. Specifically, former employees cannot work for 5 years with any recipient of grants, loans, or funds administered by the office, or with entities that received money from the "Investment in South Dakota's Future Fund." Violating this restriction is punishable as a Class 1 misdemeanor. The bill directly affects current and former employees of the Governor's Office of Economic Development and the organizations that received state financial support through that office.