A proposal to overhaul how South Dakota distributes money from its primary economic development fund hit a roadblock Friday in the Senate State Affairs Committee.
Senators deadlocked 4–4 on Senate Bill 1, which seeks to change the way loans and grants are awarded through the Employer’s Investment in South Dakota’s Future Fund. The measure would also require the creation of new administrative rules governing applications, project selection, and economic‑impact evaluations.
Before the vote, the committee approved an amendment that removed a cap on loan interest rates previously tied to the federal funds rate.
With the tie, the committee chair deferred the bill, leaving its future uncertain.
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