An Act to provide a transfer of funds for the postsecondary scholarship grant fund and to declare an emergency.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. The state treasurer shall transfer from the general fund the sum of one million one hundred twenty-five thousand dollars ($1,125,000) to the education enhancement trust fund. The earnings attributable to the amount transferred must be used to increase funds available for the issuance of the postsecondary scholarship grant fund, in accordance with chapter 13-55.
Section 2. 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.