Filed as: 68:02 Board of Economic Development
This package has had no recorded movement since August 13, 2025 and was never filed with the Secretary of State. State law sets no deadline for finishing a noticed rule, so it remains legally pending — but is inactive in practice.
The Governor's Office of Economic Development is reorganizing and streamlining its loan and grant programs by consolidating outdated program chapters, clarifying staff authority to handle loan administration, and updating statutory cross-references. Businesses seeking REDI loans can now borrow up to $3 million instead of $1 million (subject to board waiver), and the state has updated the rules governing its South Dakota Jobs grant program to remove obsolete references and better reflect current law. These changes make it easier for GOED staff to process applications and close loans without repeated board approvals on routine administrative matters, while ensuring the board retains final decision-making power over all loan and grant awards.
AI-generated from the proposed rule text — verify against the official documents.
The effect of the rules will be to streamline the administration of, and to clarify the Governor’s Office of Economic Development staff’s authority with respect to, loans from the Revolving Economic Development and Initiative (REDI) fund, and to make technical corrections to statutory references relating to the South Dakota Jobs grant program.
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