State of South Dakota
LEGISLATIVE ASSEMBLY, 2015
||HOUSE BILL NO. 1086 |
Introduced by: Representatives Hickey, Bolin, DiSanto, Haggar (Don), Haugaard, Kaiser, Kirschman, Mickelson, Munsterman, Novstrup (Al), Qualm, Ring, Rounds, Schoenbeck, Stalzer, Verchio, Westra, Willadsen, Wink, and Zikmund and Senators Greenfield (Brock), Haggar (Jenna), Holien, Jensen (Phil), Lederman, Novstrup (David), Olson, Omdahl, and Vehle
FOR AN ACT ENTITLED, An Act to establish the Economic Contingencies Work Group to ascertain the effects of a significant and extended national economic crisis on South Dakota.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. There is hereby created the Economic Contingencies Work Group to ascertain the effects of a significant and extended national economic crisis on South Dakota and to make recommendations to the state and general population on how to best prepare for, and manage, an economic crisis. The Work Group shall consist of the following thirteen members:
(1) The Speaker of the House of Representatives shall appoint three members of the House of Representatives;
(2) The President Pro Tempore of the Senate shall appoint three members of the Senate;
(3) The Governor shall appoint one representative from the Bureau of Finance and Management, one representative from the Governor's office or a state agency, one representative from the Office of Emergency Management, one representative from
the South Dakota National Guard, one representative from the sheriff's association, and two members with experience in state and local government, economics, or financial management.
Section 2. The initial appointments shall be made no later that July 1, 2015, and the members shall serve until January 1, 2016, which shall be the end date for the work group. If there is a vacancy on the task force, the vacancy shall be filled in the same manner as the original appointment.
Section 3. The work group shall study potential effects as well as the potential ways to lessen the foreseen and unforeseen impact of a national economic crisis while fostering individual and community resiliency in South Dakota. The work group shall submit a report to the 2016 Legislature including recommendations and precautions for preparing for a national economic crisis and shall seek to answer the following questions:
(1) What might a significant reduction of twenty percent or more of federal funds mean for South Dakota on a state, local, and individual level?
(2) What might the collapse of the dollar mean to main street, South Dakota, and to the state's significant financial sector?
(3) Considering the level South Dakota is dependant on federal and other unstable revenue, does this level insulate the state, or make the state more prone to the effects of a national economic crisis? What are the possibilities for reducing the state's dependency on federal and other unstable revenue sources?
(4) Might current state statutes exacerbate difficulties in buying and selling or trade in the event of a national economic crisis? What measures, if any, can the state adopt to alleviate these potential difficulties?
(5) Might current state statutes interfere with the ability of citizens to take care of
themselves and their families or might the statutes prolong an economic recovery in South Dakota? What measures, if any can the state adopt to avoid those difficulties?
(6) What might a significant disruption in basic necessities such as food, fuel, government assistance, or power supplies mean for the state? What is the current state of readiness for any extended disruption in these necessities? What is the current state of readiness for any civil unrest stemming from an extended disruption in these necessities? What might an economic crisis mean for our state corrections system?
(7) Based on the current state of South Dakota, the current state of the United States, and the potential for a national economic crisis, what is an appropriate amount of reserve funds to maintain in the state?
(8) Any other related question the work group deems appropriate in addressing this issue.
Section 4. The Economic Contingencies Work Group shall be under the supervision of the Executive Board of the Legislative Research Council and staffed and funded as an interim legislative committee, not to exceed twenty-one thousand dollars.