Filed as: 68:01 APEX Loan Program
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.
South Dakota is ending the APEX Loan Program for agricultural processing and export businesses and transferring those program funds to the REDI (Revolving Economic Development Initiative) fund, which will continue to support similar economic development projects under the Board of Economic Development's existing authority. All rules governing APEX loan eligibility, application procedures, loan amounts, equity requirements, permitted uses, approval processes, loan agreements, and borrower reporting are being repealed, effective with this rule change. Businesses that previously relied on APEX loans should contact the Board of Economic Development about alternative REDI fund financing options for their projects.
AI-generated from the proposed rule text — verify against the official documents.
The reason for proposed repeal of the rules is due to the sunset of the APEX loan program following the transfer of program funds to the Revolving Economic Development and Initiative (REDI) fund under the Board of Economic Development (BED). The BED will retain authority to support similar projects going forward under its existing authority.
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