State of South Dakota
LEGISLATIVE ASSEMBLY, 2017
This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor.
||SENATE ENGROSSED NO. HB 1157 - 3/7/2017 |
Introduced by: Representatives Qualm and Haggar and Senator Greenfield (Brock)
FOR AN ACT ENTITLED, An Act to create the agriculture future development fund and to provide funding for certain programs and projects.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 1-16G be amended by adding a NEW SECTION to read:
There is hereby created in the state treasury the agriculture future development fund. Interest earned on money in the fund shall be deposited in the fund. Any money in the fund is continuously appropriated to the Governor's Office of Economic Development. Any money deposited into and distributed from the fund shall be set forth in an informational budget as described in § 4-7-7.2.
Section 2. That chapter 1-16G be amended by adding a NEW SECTION to read:
In fiscal year 2018, the state treasurer shall transfer from the agriculture future development fund the amount available in the fund, not to exceed three million three hundred fifty thousand dollars, to the state animal disease research and diagnostic laboratory bond redemption and operations fund. Each year thereafter, the state treasurer shall annually transfer from the agriculture future development fund the sum of three million three hundred fifty thousand
dollars to the state animal disease research and diagnostic laboratory bond redemption and operations fund for the construction, reconstruction, renovation, demolition, and modernization of facilities and related infrastructure at the State Animal Disease Research and Diagnostic Laboratory on the campus of South Dakota State University.
Section 3. Section 2 of this Act is repealed on the first day of the month following a determination by the Animal Industry Board that bonds issued for the State Animal Disease Research and Diagnostic Laboratory are satisfied and paid in full.