1-16G-16.1. Procurement of certain services for revolving economic development and initiative fund.
The Board of Economic Development may use the revolving economic development and initiative fund for the purpose of paying taxes and liens and for the procuring of legal services and other services necessary to protect, recover, maintain, and liquidate the assets of the revolving economic development and initiative fund. Such costs may be incurred and paid up to ten percent of the loan balance with a majority vote of the board of economic development. Costs in excess of ten percent shall be approved by a two-thirds vote of the board. Such services are not subject to state bid laws so long as such services are procured in a commercially acceptable manner.
Source: SL 1993, ch 14, §1; SL 2009, ch 1, §18.
Structure South Dakota Codified Laws
Title 1 - State Affairs and Government
Chapter 16G - Economic Development
Section 1-16G-1 - Board of Economic Development created--Appointment--Terms.
Section 1-16G-1.1 - Authority of Board of Economic Development.
Section 1-16G-1.3 - Nonvoting members of Board of Economic Development.
Section 1-16G-3 - Revolving economic development and initiative fund--Purpose.
Section 1-16G-6 - No appeal by applicant from board's action.
Section 1-16G-7 - Acceptance and expenditure of other funds by Board of Economic Development.
Section 1-16G-8 - Promulgation of rules.
Section 1-16G-10 - Annual report by Board of Economic Development.
Section 1-16G-49 - Annual report to Government Operations and Audit Committee.
Section 1-16G-50 - Local infrastructure improvement grant fund.
Section 1-16G-51 - Economic development partnership fund created.
Section 1-16G-52 - Awards from economic development partnership fund.
Section 1-16G-53 - Matching basis of awards from economic development partnership fund.
Section 1-16G-54 - Promulgation of rules regarding local infrastructure improvement grant fund.
Section 1-16G-55 - Promulgation of rules regarding economic development partnership fund.
Section 1-16G-56 - Definitions relating to reinvestment payment program.
Section 1-16G-57 - Reinvestment payment procedure.
Section 1-16G-58 - Application for reinvestment payment.
Section 1-16G-59 - Factors for board review of application.
Section 1-16G-60 - Permit to submit an affidavit for reinvestment payment.
Section 1-16G-61 - Affidavit for reinvestment payment--Form and contents.
Section 1-16G-63 - Time and manner of reinvestment payment.
Section 1-16G-64 - Reinvestment payment fund created.
Section 1-16G-65 - Effect of tax collection agreement with Indian tribe.
Section 1-16G-66 - Public records-Information on the GOED website.
Section 1-16G-67 - Promulgation of rules on reinvestment payments.
Section 1-16G-68 - Prohibited commissions.
Section 1-16G-73 - Definitions relating to new frontiers program.
Section 1-16G-74 - Requirements for new frontiers program applicants.
Section 1-16G-75 - Time for filing application--Contents.
Section 1-16G-76 - Board review of application--Factors for consideration.
Section 1-16G-78 - Affidavit for new frontiers payment--Contents.
Section 1-16G-80 - Time for new frontiers payment--Additional information.
Section 1-16G-81 - Repayment upon relocation outside of state--Repayment waiver.
Section 1-16G-82 - Limitations on reinvestment payments.
Section 1-16G-83 - Public information.
Section 1-16G-84 - Promulgation of rules regarding new frontiers program.
Section 1-16G-85 - [Effective until July 1, 2025] Definitions.
Section 1-16G-87 - [Effective until July 1, 2025] Disaster relief subfund--Loans.
Section 1-16G-88 - [Effective until July 1, 2025] Disaster relief subfund--Reporting.
Section 1-16G-89 - [Effective until July 1, 2025] Disaster relief subfund loans--Confidentiality.