This bill establishes the South Dakota Ellsworth Development Authority support fund, which will be created in the state treasury to collect contractor's excise tax revenues specifically related to projects at the Ellsworth Air Force Base. The fund will consist of all taxes collected under the provisions of the bill, and any interest accrued will remain within the fund. The authority responsible for administering the fund will have the ability to award grants as necessary to fulfill the fund's objectives, which include mitigating the impacts of the base's mission expansion and supporting the troops stationed there.

Additionally, the bill mandates that the authority report annually to a designated special committee, detailing each grant awarded from the fund, including the recipient's name, the grant amount, the purpose of the grant, and how it supports the Ellsworth Air Force Base. The excise tax collected from projects on the base will be directly deposited into this newly created fund, ensuring a dedicated financial resource for the development and support of the base and its operations.