An Act to make an appropriation to the Board of Regents for a cost-of-living increase and to declare an emergency.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. There is hereby appropriated from the general fund the sum of $10,000,000 to the Board of Regents, for the purpose of funding the fiscal year 2023 cost-of-living increase for employees at postsecondary educational institutions under control of the Board who are wholly or partially funded with tuition and fees.
Section 2. The Board of Regents shall determine and allocate an amount for each postsecondary educational institution under its control from the appropriation in section 1 of this Act. Any postsecondary educational institution that increases tuition or fees for the fall 2022 and spring 2023 academic semesters is not eligible to receive moneys appropriated in section 1 of this Act. If a postsecondary educational institution becomes ineligible to receive the money appropriated in section 1 of this Act, the Board of Regents must immediately revert the money allocated for the postsecondary educational institution back to the general fund.
Section 3. The executive director of the Board of Regents shall approve vouchers and the state auditor shall draw warrants to pay expenditures authorized by this Act.
Section 4. Any amounts appropriated in this Act not lawfully expended, reverted, or obligated by June 30, 2026, shall revert in accordance with the procedures prescribed in chapter 4-8.
Section 5. Whereas, this Act is necessary for the support of the state government and its existing public institutions, an emergency is hereby declared to exist, and this Act shall be in full force and effect from and after its passage and approval.