South Dakota is ending the APEX (Agriculture Processing and Export) loan program by repealing all related rules. The program's funds have been transferred to the REDI (Revolving Economic Development Initiative) fund, which the Board of Economic Development will manage going forward using its existing authority to support similar economic development projects. Businesses that previously could have applied for APEX loans—such as agricultural processing companies in small towns—will no longer have access to this specific program, though they may be eligible for assistance through the REDI fund instead.
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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