This bill amends existing provisions related to the reinvestment payment program in South Dakota, specifically addressing the purchasing of goods and services for projects approved under this program. Key changes include the introduction of definitions for "cryptocurrency" and "data center," as well as modifications to the criteria for project eligibility and the application process for reinvestment payment permits. Notably, the bill allows for a reinvestment payment permit to also function as a direct payment permit for project applicants, streamlining the process for those involved in new or expanded facilities.

Additionally, the bill extends the eligibility period for project costs from three to four years for initial project costs and establishes a separate eligibility period for future equipment upgrades. It also mandates that the Board of Economic Development adopt a policy to set the minimum project cost required for qualification, with restrictions on how frequently this policy can be changed. The bill emphasizes the importance of reviewing the likelihood of project occurrence without the reinvestment payment and outlines various factors the board must consider in its approval process.

Statutes affected:
Introduced, 02/04/2026: 1-16G-61, 1-16G-62, 1-16G-64, 1-16G-63
Senate State Affairs Engrossed, 02/19/2026: 1-16G-56, 1-16G-59