<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001 { color: black; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002 { color: black; background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    </span><a href="https://sdlegislature.gov/Rules?Rule=70:05:03:01"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000000">70:05:03:01</span></a><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001">.  Definitions.</span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0"> Words used in this chapter </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">mean</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">:</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (1)  "Applicant" a regional railroad authority created pursuant to the provisions of SDCL chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=49-17A"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003">49-17A</span></a><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (2)  "B</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">enefitted entity</span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">" </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">an individual, corporation, partnership, limited liability company, or other business entity that will directly benefit from a railroad trust fund loan</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (3)  "Borrower" an applicant who has been awarded a loan from the railroad trust fund;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (4)  "Railroad trust fund" a special fund within the state treasury created pursuant to SDCL chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003">49-16C</span></a><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">5</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">)  "Primary jobs" jobs that provide goods and services which are primarily exported from the state, that gain market share from imports to the state, or that meet an unmet need in the area and result in the creation of new wealth. Primary jobs are derived from businesses that bring new income into an area, stimulate other local businesses, or assist a community to diversify and stabilize its economy;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (6)  "Railroad infrastructure" components of railroad track or other railroad structures, including bridges and drainage facilities;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (7)  "Total project costs" the direct costs associated with the purchase of materials and services, necessary site development and improvements, construction or rehabilitation, and works necessary to the operation and protection of the project;</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    (8)  "Rail operator" the railroad company that will provide rail service.</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001">Source:</span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0"> 19 SDR 107, effective January 24, 1993</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">; 49 SDR 47, effective November 21, 2022</span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">.</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001">General Authority:</span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003">49-16C-3</span></a><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">.</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001">Law Implemented:</span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0"> SDCL </span><a href="https://sdlegislature.gov/Statutes?Statute=1-44-20"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003">1-44-20</span></a><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">, </span><a href="https://sdlegislature.gov/Statutes?Statute=49-16C-3"><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000003">49-16C-3</span></a><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">.</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">    </span><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0-000001">Example: </span><span class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bC0">(2) "Benefitted entity": a grain elevator that will ship grain on a railroad siding constructed with a railroad trust fund loan.</span></p><p dir="ltr" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3bP0"><span xml:space="preserve" class="s8b719f60-f1eb-4029-819f-41b0f2cdac3b000002"> </span></p></div></body></html>