Filed as: 68:01 APEX Loan Program
This package has had no recorded movement since September 10, 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, which provided loans of up to $250,000 to agriculture-processing businesses that exported products or replaced imports and created jobs in rural communities. The program's functions and funding are being transferred to the Board of Economic Development's Revolving Economic Development Initiative (REDI) fund, which will continue to support similar economic development projects under its existing authority. All rules governing APEX loan eligibility, application procedures, loan terms, and borrower requirements are being repealed.
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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