amend the process by which moneys are distributed from the employer's investment in South Dakota's future fund.
What changed between versions
Added new categories of eligible projects including infrastructure development, business retention or expansion, and recruiting out-of-state projects or workers to South Dakota.
Requires business applicants to submit detailed business plans including goods/services offered, job requirements, educational requirements, compensation packages, accounting practices, and other funding received.
Added requirement that fund awards may only reimburse actual project costs, with agreements posted on the state website and itemized invoices required for awards exceeding one million dollars.
Added requirement that the Governor's Office of Economic Development must provide detailed recommendations to the Governor before approving fund awards.
Enhanced reporting requirements to include economic impact measures, job creation/retention data, fund balance, and projections for awards made more than two years prior.
