The bill aims to promote economic development in South Dakota by introducing new provisions that focus on enhancing the state's economic growth. Specifically, Section 1 includes a new insertion that explicitly states the purpose of the section is to provide for the economic development of South Dakota.

This legislative effort reflects a commitment to fostering an environment conducive to economic progress, although the bill does not specify the mechanisms or strategies that will be employed to achieve this goal. Overall, the bill serves as a foundational step towards advancing the state's economic interests.