An Act to establish a post-employment restriction for employees of the Governor's Office of Economic Development and create a penalty therefor.

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

Section 1. That a NEW SECTION be added to chapter 1-16G:

Notwithstanding the provisions of § 53-9-8, an individual employed by the Governor's Office of Economic Development may not, for a period of five years after termination of employment with the office, accept compensation or employment from, or enter into a contractual relationship with, any person that, during the individual's employment with the Governor's Office of Economic Development, received, directly or indirectly:

(1) Any grant, loan, moneys, or other financial assistance administered by the Governor's Office of Economic Development; or

(2) Moneys from the employer's investment in South Dakota's future fund established pursuant to § 61-5-29.1.

A violation of this section is a Class 1 misdemeanor.