An Act to transfer funds to the South Dakota postsecondary scholarship grant fund for the South Dakota need-based grant program and to declare an emergency.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. The state treasurer shall transfer the sum of $50,000,000 $1 from the general fund to the South Dakota postsecondary scholarship grant fund established in the education enhancement trust fund pursuant to § 13-55A-14, for the purpose of supporting the South Dakota need-based grant program.

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.