State of South Dakota
LEGISLATIVE ASSEMBLY, 2011
This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor.
||HOUSE APPROPRIATIONS ENGROSSED NO. HB 1194 - 2/16/2011 |
Introduced by: Representatives Wick, Bolin, Dryden, Fargen, Kopp, Nelson (Stace), and Sly and Senators Rhoden, Garnos, Krebs, Rampelberg, and Rave
FOR AN ACT ENTITLED, An Act to require the state investment council to create an exempt nonprofit corporation to administer the South Dakota endowment fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. The state investment council shall create an exempt nonprofit corporation under 501(c)(3) of the United States Internal Revenue Code, as of January 1, 2011, for the purpose of administering and creating an endowment fund. The purpose of the endowment fund is to provide a fund for any person who wishes to contribute to the endowment fund to further the excellent quality of life which is unique to this state.
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Legislative Research Council at a cost of $.075 per page.
|Insertions into existing statutes are indicated by underscores.|
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