South Dakota Administrative Rules Title 31 - Governor's Office of Economic Development
Overview of Title 31
Title 31 governs the activities, programs, and policies administered by the Governor's Office of Economic Development (GOED) in South Dakota. Its purpose is to promote economic growth, support business development, and administer state programs such as loans, grants, and incentives.
The title is structured into several articles, each covering a specific program or administrative process. Key focus areas include energy programs, infrastructure incentives, and oversight of funds distributed to businesses or organizations.
Key Articles and Provisions
1. Article 31:01 – Energy Conservation Loans
This article outlines the rules for loans related to energy conservation programs:
Eligibility:
Individuals, businesses, or organizations that undertake energy conservation projects may qualify. The rules specify which types of projects are eligible (e.g., renewable energy installations, energy-efficient upgrades).
Application Process:
Applicants must submit a detailed plan, including project scope, estimated energy savings, and financial documentation.
Loan Terms:
Maximum and minimum loan amounts are defined.
Interest rates and repayment terms are regulated.
Priority may be given to projects demonstrating high energy savings or community benefit.
Monitoring and Compliance:
GOED conducts reviews and audits to ensure funds are used as intended. This may include on-site inspections and reporting requirements.
2. Article 31:02 – Ethanol Infrastructure Incentive Program
This article covers incentives for developing ethanol infrastructure in the state:
Eligibility:
Businesses or entities investing in ethanol storage, distribution, or production infrastructure.
The program encourages expansion of renewable fuel availability.
Grant Application:
Applicants must provide detailed plans, cost estimates, and timelines.
Projects are reviewed and prioritized based on potential impact and alignment with state economic goals.
Fund Allocation:
Funds are allocated based on project classes, such as retail, production, or transportation infrastructure.
Allocation is competitive, and GOED may set limits on grant amounts per project.
Monitoring and Compliance:
Recipients must submit reports on fund usage and project progress.
GOED may conduct inspections or audits to ensure compliance with program requirements.
3. Administrative and General Rules
In addition to program-specific rules, Title 31 also includes general administrative procedures, such as:
How applications are processed and reviewed.
Requirements for reporting and documentation.
Procedures for appeals or disputes related to funding decisions.
Recordkeeping and public disclosure requirements.
Purpose and Goals
The overarching goal of Title 31 is to ensure efficient, transparent, and accountable administration of economic development programs. It aims to:
Promote business growth and investment in South Dakota.
Support renewable energy and infrastructure development.
Ensure that state funds are used responsibly and effectively.
Provide clear guidance to applicants and program administrators.
RELATED Blog
0 comments