AMENDMENT FOR SENATE STATE AFFAIRS COMMITTEE ENGROSSED BILL
237oc
___________________ moved that SB 237 be amended as follows:
On page 5, line 15, of the Senate State Affairs Committee engrossed bill, overstrike "in the
Board of Regents".
On page 5, delete line 16, and insert "grants through the Board of Regents pursuant to this
chapter to qualified students. All moneys in distributions from the South Dakota need-based".
On page 5, line 17, after "to" insert "transfer to the general fund and".
On page 5, line 18, delete everything after "programs" and insert "consistent with the provision
of S.D. Const., Art. XII, 6, and section 13 of this Act. Any interest earned shall".
On page 5, line 19, overstrike "be credited to the fund.".
On page 6, line 10, delete everything after "." and insert "
Beginning in fiscal year 2015, the
portion of the transfer to the general fund for the need-based matching program, shall be calculated
by the state investment officer based on the relative share of the contributions made to the need-based grant fund to the most recently calculated total fair value of the education enhancement fund
including the contribution. The calculation shall be updated monthly to reflect any additional
contributions to the education enhancement trust fund and the portion of the transfer to the general
fund for the need-based matching program shall be based on the average of the monthly calculation.
Section 14. For fiscal year 2014, two hundred thousand dollars ($200,000) of the education
enhancement trust fund distribution shall be transferred to the need-based matching program.".
On page 6, delete lines 11 to 14, inclusive.