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

SB 1 amends South Dakota's "Employer's Investment in South Dakota's Future Fund" to clarify how funds are distributed for economic development loans and grants. The bill requires the Governor's Office of Economic Development to establish specific rules for applicants, including how economic impact is assessed, selection criteria, interest rate limits (capped at 200 basis points above the federal funds rate), and repayment procedures. It directly affects businesses, researchers, and organizations seeking funding for projects that boost the state's economy. The changes streamline the process for awarding loans/grants while ensuring repayments replenish the fund. The bill updates existing rules under Section 61-5-29.1 without altering the fund's core purpose.