South Dakota Codified Laws 1-16G-53. Matching basis of awards from economic development partnership fund
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Any funds awarded under the economic development partnership fund shall be provided on a matching basis. The funds awarded to a recipient for staffing may be distributed over a four year period with forty percent being distributed in the first year, thirty percent in the second year, twenty percent in the third year, and ten percent in the fourth year. Over the four year period, the recipient shall match the total funds received from the economic development partnership fund.
Terms Used In South Dakota Codified Laws 1-16G-53
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Source: SL 2013, ch 7, § 7, eff. Mar. 20, 2013.