FOR AN ACT ENTITLED, An Act to  revise the authority of the South Dakota Student Loan Corporation regarding private activity bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 1-7-10 be amended to read as follows:
     1-7-10.   There is hereby established in the state treasury a private activity bond fees fund. Any receipts or revenues into this fund are to be expended only if recommended by the Governor and approved by majority vote of the special committee created in chapter 4-8A or appropriated by an act of the Legislature. Receipts or revenues into this fund from the South Dakota student loan corporation may only be expended on programs or projects that directly benefit students attending higher education institutions in South Dakota. Receipts or revenues into this fund from the South Dakota Housing Development Authority may only be expended on programs or projects that directly enhance the quality of residential housing in South Dakota. All money in the fund shall be expended in accordance with Title 4 on warrants drawn by the state auditor on vouchers approved by the Governor.

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350 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.027 per page.   .   Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.  

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