An Act to modify provisions of a report required by the Governor's Office of Economic Development on certain awards and grants.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 61-5-29.3 be AMENDED:

61-5-29.3. The On of before March first of each year, the Governor's Office of Economic Development shall provide a written report to either the Joint Committee on Appropriations or the Interim Committee on Appropriations on a biannual basis the Government Operations and Audit Committee, the State Affairs Committees in the Senate and the House of Representatives, and the Commerce and Energy Committees in the Senate and in the House of Representatives, the following information for each award or grant made from the employer's investment in South Dakota's future fund, established in § 61-5-29.1, during the previous twenty years:

(1) The name of the recipient and the amount of the award or grant;

(2) The location of the recipient;

(3) The research or economic development purpose that is or was being funded;

(4) The measures that are or were being used to determine the economic impact of the award or grant; and

(5) The number of jobs created or retained, if any;

(6) The balance of the fund at the time of reporting;

(7) The status of the research or economic development purpose; and

(8) For awards or grants made more than two years prior to the report, any projection of jobs created or retained in this state by the recipient of the award or grant resulting from the research or economic development purpose since the award or grant was made.

Twice each year, the Governor's Office of Economic Development shall also provide the report required in this section to either the Joint Committee on Appropriations or the special interim committee established in § 4-8A-2.