70:05:03:06Factors for board action.

Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗

Rulemaking activity

• 70:05:01:01 – Terms • 70:05:01:02 – Meetings and quorum • 70:05:01:03 – Declaratory rulings • 70:05:01:04 – Approval of division action. • 70:05:01:05 – Adoption of guidelines for property management – Notice required. • 70:05:02:16 – Record of income • 70:05:03:01 – Definitions • 70:05:03:03 – Application requirements • 70:05:03:04 – Equity contribution • 70:05:03:05 – Permissible uses of loan proceeds • 70:05:03:06 – Factors for board action • 70:05:03:07 – Acceptance and time restrictions of applicant • 70:05:03:08 – Loan agreement • 70:05:03:09 – Borrower reporting requirements • 70:05:03:10 – Inspection of the borrower by the board and retention of records • 70:05:03:11 – Additional notification requirements • 70:05:03:12 – Maturity and interest rate • 70:05:03:13 – Review of financial status • 70:05:03:15 – Delegation of administrative functions • 70:05:04:01 – Deadline for submission of information for railroad tax credit – Application form – Information required.Effective

When making a decision on an application, the board shall consider the following: (1) Number of primary jobs created; (2) Amount of the loan requested; (3) Net economic effect on the area and state; (4) Transportation needs of the area served by the project; (5) Support of the public entities of the community and area; (6) The amount of the financial contribution by the applicant or others to the project; (7) The effect of the project on the environment, health, and safety of the people in the area and state; (8) Compatibility with the economic development plans of the area and state; (9) The potential success of the project; (10) The character, experience, management record, and financial capacity of the rail operator and any other benefitted entity; (11) The capacity of the applicant to repay the loan. In determining the capacity of the applicant, the board may consider the following: (a) The amount of the loan; (b) The economic feasibility of the project; (c) The ability of the applicant to service the debt; (d) The financial status of the project, applicant, and rail operator; and (e) The satisfaction of engineering, legal, and environmental regulations; (12) The total capitalization of the project, including any capitalization subordinated to the trust fund loan; and (13) The terms and conditions of the loan.

Source: 19 SDR 107, effective January 24, 1993; 49 SDR 47, effective November 21, 2022.

General Authority

SDCL 49-16C-3 ↗

Law Implemented

SDCL 49-16C-3 ↗

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